View Poll Results: What Should Hugo do with Confederado and Bolivar
Re-open them as separate state banks
0
0%
Multiple Choice Poll. Voters: 4. You may not vote on this poll
Hugo Chavez!!
Thread Starter
|
Postmaster
Joined: Mar 2002
Posts: 2,680
Likes: 1
From: Montreal Canada
Hugo Chavez!!
We haven't had a Hugo Chavez thread in a while. Remember the evil communist dictator from Venezuela who sells his people gasoline at 1962 prices and hires Cuban dentists to clean their teeth. Apparently things are getting out of control down there.
The nerve of this guy.
Chavez: 2 closed banks to join state bank sector
By FABIOLA SANCHEZ
CARACAS, Venezuela -- Venezuelan President Hugo Chavez said Thursday that two banks shut down by authorities due to irregularities will be relaunched as the latest additions to the country's growing list of state-run banks.
The government aims to rehabilitate Confederado and Bolivar banks by Dec. 24 in order to reopen them as state-run institutions, Chavez told state television. He said authorities are considering whether to merge the two or open them as two separate state banks.
Venezuela already has five government-owned banks - including the recently nationalized Banco de Venezuela - that control 21.5 percent of the banking sector. The rest remain under private ownership.
The government took over management of four small banks Nov. 20, alleging widespread violations of regulations. This week, authorities closed the banks and said two, Canarias and ProVivienda (BanPro), will be permanently shut and their assets sold off.
Chavez called the bankers who had run them "criminals" and said the banks' financial problems were caused by their greed.
Two have been arrested in the scandal, including majority owner Ricardo Fernandez and his lawyer Jose Camacho. They are charged with misappropriating deposits and providing loans to other businesses in which they were investors.
By FABIOLA SANCHEZ
CARACAS, Venezuela -- Venezuelan President Hugo Chavez said Thursday that two banks shut down by authorities due to irregularities will be relaunched as the latest additions to the country's growing list of state-run banks.
The government aims to rehabilitate Confederado and Bolivar banks by Dec. 24 in order to reopen them as state-run institutions, Chavez told state television. He said authorities are considering whether to merge the two or open them as two separate state banks.
Venezuela already has five government-owned banks - including the recently nationalized Banco de Venezuela - that control 21.5 percent of the banking sector. The rest remain under private ownership.
The government took over management of four small banks Nov. 20, alleging widespread violations of regulations. This week, authorities closed the banks and said two, Canarias and ProVivienda (BanPro), will be permanently shut and their assets sold off.
Chavez called the bankers who had run them "criminals" and said the banks' financial problems were caused by their greed.
Two have been arrested in the scandal, including majority owner Ricardo Fernandez and his lawyer Jose Camacho. They are charged with misappropriating deposits and providing loans to other businesses in which they were investors.
Thread Starter
|
Postmaster
Joined: Mar 2002
Posts: 2,680
Likes: 1
From: Montreal Canada
Thread
Thread Starter
Forum
Replies
Last Post
BuiltToughF250
General NON-Automotive Conversation
4
Jun 12, 2004 09:29 AM
