He always shows us why Communism/Socialism is always detrimental and leads to totalitarianism!
Chavez to PRIVATE Venezuelan banks: "Make horrible loans to desperate people in an industry that is hurting, giving them bottom-level rates, where you- the banks- make NOTHING (that is if the borrowers actually pay), and bound to lose so much money you will need a bailout (which will lead to nationalization anyways) otherwise like an old-school gangster I will take-over your private business, steal your bank's money and assets, raid your private personal bank accounts, cease your property, put you in prison, run your name through the mud, attack your family and leave you penniless and broken!"
Yep Comrade Chavez you don't disappoint!
Chavez to PRIVATE Venezuelan banks: "Make horrible loans to desperate people in an industry that is hurting, giving them bottom-level rates, where you- the banks- make NOTHING (that is if the borrowers actually pay), and bound to lose so much money you will need a bailout (which will lead to nationalization anyways) otherwise like an old-school gangster I will take-over your private business, steal your bank's money and assets, raid your private personal bank accounts, cease your property, put you in prison, run your name through the mud, attack your family and leave you penniless and broken!"
Yep Comrade Chavez you don't disappoint!
Hugo Chavez warns he could nationalize some banks - DailyHerald.com
Venezuelan President Hugo Chavez warned private banks on Sunday that he will consider nationalizing any that refuse to finance agricultural projects promoted by his government.
Banks are required by law in Venezuela to provide at least 10 percent of their lending to finance government development projects.
The private banks that do not comply with the constitution and their duty, well, I do not have any problem nationalizing them, Chavez said during his weekly radio and television program. We must ensure the constitution and laws are complied with!
Chavez charged that the rules arent being followed by some of Venezuelas biggest private banks Banesco, Banco Mercantil and Banco Provincial, which is controlled by Spains Banco Bilbao Vizcaya Argentaria.
Chavez singled out the president of Banesco, Juan Carlos Escotet, ordering him to lend more to Venezuelas cash-strapped farmers.