The Devil's Excrement

Now that one has to apply self-censorship, it is good to quote an article that says essentially whta I would have said, Petkoff on Nobrega’s departurre and good riddance to Nobrega!

Did he leave, did they make him leave, or was it the other way around? by Teodoro Petkoff

Without pain and without much glory, almost as a side story, in a speech that had a different purpose, Tobias Nobrega was kicked out of the Ministry of Finance.

But, was he really kicked out or he forced his way out?

Because it is difficult to imagine how Nobrega could commit the ingenuity of announcing the date of the next devaluation. You never do that and least of all on the part of the Minister that manages the money. Did he do it on purpose? It is not harebrained to think so. He knew he was condemned and that is why his closest collaborators had already left. It is said that Giordani, who had been after him since a while back, had proof of the manipulations made from the Finance Ministry. A number of foreign banks complained of the assignation by finger pointing (nobreguiano) of the last bond issue, the assignment of which was anything but an auction. Of the previous bond issues, there were many tales floating around. In Tal Cual we occupied our rime with some of them. Nobody paid us any attention, of course. The purchase of buildings by the ministry left a long tail of treachery that was punctually noted by this evening paper. Nobody paid attention to us. On top of that, it is obvious that for the foreign exchange speculators; Nobrega’s infidelity from New York made it possible for them to milk a beautiful profit. Retirement fund? But Chávez can not complain: He had the Minister of Finance that he deserved.

This entry was posted on December 6, 2004 at 9:56 pm and is filed under Venezuela.

Now that one has to apply self-censorship, it is good to quote an article that says essentially whta I would have said, Petkoff on Nobrega’s departurre and good riddance to Nobrega!

Did he leave, did they make him leave, or was it the other way around? by Teodoro Petkoff

Without pain and without much glory, almost as a side story, in a speech that had a different purpose, Tobias Nobrega was kicked out of the Ministry of Finance.

But, was he really kicked out or he forced his way out?

Because it is difficult to imagine how Nobrega could commit the ingenuity of announcing the date of the next devaluation. You never do that and least of all on the part of the Minister that manages the money. Did he do it on purpose? It is not harebrained to think so. He knew he was condemned and that is why his closest collaborators had already left. It is said that Giordani, who had been after him since a while back, had proof of the manipulations made from the Finance Ministry. A number of foreign banks complained of the assignation by finger pointing (nobreguiano) of the last bond issue, the assignment of which was anything but an auction. Of the previous bond issues, there were many tales floating around. In Tal Cual we occupied our rime with some of them. Nobody paid us any attention, of course. The purchase of buildings by the ministry left a long tail of treachery that was punctually noted by this evening paper. Nobody paid attention to us. On top of that, it is obvious that for the foreign exchange speculators; Nobrega’s infidelity from New York made it possible for them to milk a beautiful profit. Retirement fund? But Chávez can not complain: He had the Minister of Finance that he deserved.

This entry was posted on December 6, 2004 at 9:56 pm and is filed under Venezuela.