Decades of corruption, mismanagement, and neglect have left the people of Puerto Rico with an ailing electrical grid which failed spectacularly yesterday afternoon.
The island's electrical utility is a monopoly. It is also insolvent as a result of excessive borrowing in the municipal bond markets.
Local business owners tell me that billions upon billions in debt have done little except to expand payrolls through cronyism while intrastructure has been left aside resulting in frequent blackouts.
Meanwhile the utility blames migration to the mainland as the cause of its pinched cash flow.
Perhaps the Puerto Rican people have simply had enough.