Refco and the Venezuelan Financial System

October 18, 2005

Will the Refco downfall have a strong impact in Venezuela’s financial system?

Rumors say it will be bigger than anyone thinks! Refco would leverage
Venezuelan Government bonds as if they were Treasuries to local banks
and brokers. Moreover, Refco was quite “creative” in selling products
locally to banks and brokers.

Stay tuned… you heard it here first, even if Descifrado has suggested a link here, here, here or here.

This entry was posted on October 18, 2005 at 11:55 pm and is filed under Venezuela.

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