Venezuela seizes private banks, plans new state bank

Venezuela seizes private banks, plans new state bank

rawstory.com

Venezuela's government will create a new state-run financial institution out of four private banks that were shut down this week for alleged accounting irregularities, President Hugo Chavez said Sunday.

"We will create another large bank... as a result of a merger" between the closed institutions, Chavez announced on his weekly television and radio program "Alo Presidente."

The new bank, to be called Banco Bicentenario -- in honor of Venezuela's 200th anniversary of independence next year -- will be created from the remains of Confederado, Central, Bolivar and Banco Real, all shutt

(visit the link for the full news article)

Got to wonder if this news will make the Fed a we bit nervous ?

One has to wonder just how many world bankers Venezuela will pi$$ off over this one ? They might even receive a bombing over this one some where down the road .

The story goes on to say that Venezuela's government may take control over more privet banks in the future , there government currently controls about 70% of the banks in Venezuela .









rawstory.com
(visit the link for the full news article)

reply to post by Max_TO


Well we know how Obama and Company loves Hugo Chavez. I bet the Obama administration was taking notes about their hero's latest actions. Watch your back CitiBank and Friends.

Originally posted by Max_TO
One has to wonder just how many world bankers Venezuela will pi$$ off over this one ? They might even receive a bombing over this one some where down the road .

They will receive their bombing, but it's not over this. Nicholas Rockefeller has stated they wanted to go into Venezuela in early 2001.

Originally posted by NuclearPaul

Nicholas Rockefeller has stated they wanted to go into Venezuela in early 2001.

Not exactly.

Aaron Russo stated that Nicholas Rockefeller stated they wanted to go into Venezuela in early 2001.