The names of the seven members of the federal control board, which President Obama will announce this afternoon, have leaked and many of them will be no surprise to those who followed Control Board Watch. I profiled three appointees including Ana Matosantos (yellow flag), Arthur Gonzalez (yellow-red flag), and Jose Ramon Gonzalez (yellow-green flag).
The nominees who I have not yet profiled are Andrew Biggs, David Skeel, Carlos Garcia, and Jose Carrion, though I heard rumors about each.
Biggs is a resident scholar at the American Enterprise Institute, a right-of-center think tank in Washington, D.C. In truth, I do not know much about him with regard to his positions on Puerto Rico, but it is notable that his area of expertise at AEI includes state and local public pension reform – a sure sign that Congress sees this as a must-do for the Commonwealth.
Skeel is a law professor at the University of Pennsylvania who has been outspoken on public finance issues in the past, including Puerto Rico. He has been a supporter of bankruptcy access for Puerto Rico, having written a column for the Wall Street Journal in favor of doing so in January.
Garcia is a former GDB president under Governor Luis Fortuno. As such, he has intimate familiarity with the Commonwealth’s financial operations and the management of our public debt, and no doubt he offers a valuable and unique perspective to the board. His recent tenure at GDB, however, caused controversy during the nomination process. He presided over the GDB at a time when our public debt skyrocketed, and was likely involved with debt issuances that are still outstanding today.
Carrion leads an insurance brokerage firm on the island called Carrión, Laffitte & Casellas, and is deeply respected in the Puerto Rican business community. He has nearly two decades of experience in the insurance industry on the island, and was at one point contacted regarding his interest in the board’s executive director position (which he denied interest in earlier this month). Carrion also happens to be the chief financial officer of the Republican Party in Puerto Rico.
The appointment of the board represents the first major milestone in the implementation of PROMESA, but the crucial work in reinvigorating the Puerto Rican economy is only just beginning. More on the board, as well as its potential staffers and advisers, to come.
His public sector experience, familiarity with the inner working of the Puerto Rican Government, and long history as a champion for economic development on the island make him a logical candidate, and his name has gained traction in the rumor mill over the last several weeks.
Yellow Flag – Carlos Vivoni is experienced in public sector work aimed at promoting economic development on the island, which makes him a logical fit. However, he has no apparent experience in dealing with large-scale debt crises, and his involvement in a 2011 scandal will undoubtedly call his credibility into question. 
Foran is a municipal finance veteran, having worked closely with MTA since the 1980s, while he was a banker at Bear Stearns. He has long been viewed as a candidate for the control board, in large part thanks to his role in spearheading MTA’s $15 billion debt restructuring, which began while Foran was at Bear Stearns in 2002.
Green Flag – Foran is a municipal finance veteran whose work in spearheading the Metropolitan Transit Authority’s debt restructuring is highly relevant. 
Gregory Kaufman and Alejandro Ballester are names that have not been circulated widely by the media as candidates for the control board, but nonetheless sources tell me that they are garnering significant consideration for the control board.
Red Flag – Kaufman’s status as a high-level Banco Popular employee and Ballester’s membership on Popular’s board of directors clearly makes them unfit to serve on the control board, given the myriad conflicts that arise out of the bank’s relationship with the Puerto Rican government and its public debt. 
Most pertinent to potential control board work, however, is likely Swagel’s public sector experience. He was the Assistant Secretary for Economic Policy at the Treasury Department from December 2006 to January 2009, during the second term of President George W. Bush, where he advised on TARP policy. He was also chief of staff to the White House Nation Council of Economic Advisors, as well as an IMF economist and an economist at the Federal Reserve. Swagel’s experience at Treasury could be particularly helpful, because it would give the board someone experienced with the inner workings of the department without compromising the board’s integrity by presenting a conflict with the current administration.
Mark Page is the former director of the New York City Office of Management and Budget (OMB), where he has served in various capacities as far back 1978 and as director under Mayor Michael Bloomberg from 2002 until 2014.