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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
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 .