Venezuela assumes control of Spanish-owned bank

[Councilman]

My Way News - Venezuela assumes control of Spanish-owned bank

CARACAS, Venezuela (AP) - President Hugo Chavez's government assumed control of Venezuela's third-largest bank on Friday - making the state the largest player in the nation's banking system.

The purchase of the Spanish-owned Banco de Venezuela gives Chavez's socialist government control over more than one-fifth of bank deposits as he tightens his grip over the economy.

The acquisition will "strengthen the public banking system," which favors sectors including agriculture, energy, housing and tourism, Finance Minister Ali Rodriguez said in a statement.

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Wow deja vu all over again. As you read this story substitute Hugo Chavez's name with Barack Hussein Obama and your talking about Socialist America instead of Chavez's Socialist Venezuela. The "strengthen the banking system" claim and even more sounds very much like what we've heard right here about the bail outs, of the banks, AIG, and the car companies GM and Chrysler and there take over. The power to do which by the way is not, I repeat NOT one of the enumerated powers listed in the Constitution. Are they?

 

[Red_Dave]

My Way News - Venezuela assumes control of Spanish-owned bank

CARACAS, Venezuela (AP) - President Hugo Chavez's government assumed control of Venezuela's third-largest bank on Friday - making the state the largest player in the nation's banking system.

The purchase of the Spanish-owned Banco de Venezuela gives Chavez's socialist government control over more than one-fifth of bank deposits as he tightens his grip over the economy.

The acquisition will "strengthen the public banking system," which favors sectors including agriculture, energy, housing and tourism, Finance Minister Ali Rodriguez said in a statement.

========================================================

Wow deja vu all over again. As you read this story substitute Hugo Chavez's name with Barack Hussein Obama and your talking about Socialist America instead of Chavez's Socialist Venezuela. The "strengthen the banking system" claim and even more sounds very much like what we've heard right here about the bail outs, of the banks, AIG, and the car companies GM and Chrysler and there take over. The power to do which by the way is not, I repeat NOT one of the enumerated powers listed in the Constitution. Are they?

I gave up hope of any rational disscussion of Hugo Chavez on this forum when I was told that Chavez was clearly a dictator because people were "protesting on the streets". But looking at Obamas banking bail out for a second I fail to see how this makes him some sort of leftist when pretty much every country in the developed world has done this. What do you think would happen to your savings if the banking sector collapsed?

 

[Agent Ferris]

I gave up hope of any rational disscussion of Hugo Chavez on this forum when I was told that Chavez was clearly a dictator because people were "protesting on the streets". But looking at Obamas banking bail out for a second I fail to see how this makes him some sort of leftist when pretty much every country in the developed world has done this. What do you think would happen to your savings if the banking sector collapsed?

That's not why he's a dictator, he's a dictator in the making "El Presidente for Life" because upon taking power he changed the democratic system that brought him to power in the first place. He then packed the courts in violation of his own rewritten Constitution. Then he expanded the desacato laws banning "derogatory" speech against government employees. Then he started confiscating private media outlets for the state. And then ofcourse there's Chavez's million man armed militia answerable only to him. ****ing Chavizistas.

In a Democratic-Republic system of governance (which Venezuela was before Chavez) the citizenry gets the government which they deserve.