On Monday, August 4, President Donald Trump dismissed five of the seven members of the Puerto Rico Financial Oversight and Management Board (FOMB), the entity that, for all intents and purposes, governs Puerto Rico. The move likely signals the start of a Trumpian takeover of the island that will only intensify austerity, poverty, and the multifaceted crises afflicting the oldest colony in the world.

No one should shed a tear for members of the board — or La Junta, as Puerto Ricans not-so-lovingly call it. The FOMB was created by federal law (PROMESA, signed by President Barack Obama in 2016) to address Puerto Rico’s financial crisis and oversee its debt restructuring process. It was given near-unlimited power by Congress to set Puerto Rico’s budget, veto local laws, and overrule the elected governor.

For the past decade, the board has used that authority to implement a draconian austerity regime in Puerto Rico. It has slashed pensions, cut funding for public education, and pushed for privatization of the island’s electrical grid to companies that charge Puerto Ricans more money for a poorer service.