Hugo Chavez: Over There Imploding Banks and Busting Up Capitalism... I Think
You know, if I didn't know where Bernanke's been lately, I might suspect he's been hanging out with our homie Hugo Chavez.
Worries grew Thursday that Venezuela is on the verge of a banking crisis, causing a run on smaller lenders, sinking the country's currency and bond prices, and stoking fears that president Hugo Chávez could nationalize the banking system.
Venezuelans and investors are concerned about small banks' solvency following this week's seizure of four banks run by a billionaire close to the government of President Chávez. The populist leader may have fanned the fire when he assured Venezuelans twice this week that he stood ready to stem any crisis -- not with credit lines to troubled banks, but with a promise to take over more lenders if necessary.
Mr. Chávez said Thursday his government was "putting out the fire" set by "greedy capitalism."
Yeah, dude, it's totally the greedy capitalism that's the problem. Why don't you set up a meeting with your friend OMGObama and discuss this matter with him? He can tell you all about how greedy capitalism works using your very own Socialist model, it'll be an awesome meeting.