Being from Venezuela I welcome the actions done by the venezuelan goverment. Chavez is finally tackling corruption in their closed circle. That is a excellent news for Venezuelan institutions. I wonder why some venezuelan opposition run in defence of the allegedly corrupt people, unless we are in front of another "political persecution" portrait again by the Venezuelan opposition.
First, the banks in Venezuela are not normal banks like any other in a capitalist system. The intermediation between savers and lenders are minimal in Venezuela private banks. Our oil economy has created a huge distortion in the structural financial system were the normal creation of wealth is overwhelm by the oil rent. The bankers are used to play on casino banking. The distortion is such that is the main caused of our structural endemic inflation, not associated to the real productivity or lack of productivity of our country. Chavez is right when he says that a strong public sector have to play their part into the resetting of the financial parameters. Regaining order and morality into a business usually disloyal to the people what is suppose to serve.
I read in the news in English: "after intervening four of the most important banks of the country" ?!!!
BanPro, Canarias, Confederado and Bolívar Banco are not the most important banks in Venezuela, not even in a middle rank, they hold 10% of the money's mass of the Venezuelan bank system.
I wonder if all jokes starting with a lie instead of a fact, are they better jokes?
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