You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Reply #74: Venezuela Has Jailed Its Fraudster Bankers, U.S. Bails Them Out. [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
justinaforjustice Donating Member (519 posts) Send PM | Profile | Ignore Tue Jul-13-10 06:50 PM
Response to Original message
74. Venezuela Has Jailed Its Fraudster Bankers, U.S. Bails Them Out.
President Chavez shut down the banks and financial institutions here in Venezuela that were using their depositors' money to speculate for their own personal gain. The Bush and Obama administrations bailed out the U.S. banks and even funneled money to Goldman Sachs for doing the same thing, to the tune of billions, if not trillions, of dollars.

Meanwhile, in the U.S. the administration claims there won't be enough money to pay full Social Security benefits without raising the age to receive payments. Of course, we can't increase the payments into SS from the very rich, we can only take benefits from the "little people". The U.S. does have plenty of money for two wars and 800 military installations in 75 foreign countries around the world, including seven new ones in Venezuela's neighbor, Colombia.

Venezuela nationalized or shut down the corrupt banks here -- and paid back all their depositors every cent they were owed.

When a government agency here (PDVAL) allowed foodstuffs, intended for the government subsidized markets, to rot in warehouses. Venezuela put the agency top officials in jail and are charging them for their malfeasance.

Americans can worry about Venezuelan bank laws after the U.S. government puts Summers, Geithner and the heads of the SEC who failed to regulate the big banks in jail. Don't hold your breath for that to happen.

If Chavez were in charge in the U.S., the heads of BP who cut corners on safety in order to increase their corporate profits would already be in jail, as would the government mining regulators who allowed BP to carry out its corrupt practices.

In Venezuela, policies are now designed to protect "the little people" not the rich corporations. The same cannot be said for the U.S., where citizens are suffering massive unemployment and now being deprived of even minimal unemployment benefits for the "sin" of being unemployed too long.

Printer Friendly | Permalink |  | Top

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC