Puerto Rico is broke and in debt to the tune of $73 billion. It needs to be able to declare bankruptcy which can’t do unless the US Congress lets them. There is a bill (pdf) in the works that will do that and provide financial assistance but there are a group of people who don’t …
Tag: Vulture Capitalists
Apr 25 2016
Jul 23 2012
The likely Republican presidential candidate and quintessential vulture capitalist, Mitt Romney, chided President Obama for not being sufficiently fearful of Venezuela’s socialist president, Hugo Chávez Friás last week. In the conservative Daily Telegraph Mitt is quoted as saying:
“The idea that this nation, this president, doesn’t pose a national security threat is simply naive and an extraordinary admission on the part of this president to be completely out of touch with what is happening in Latin America,” Romney said of Chavez in an interview Wednesday with Fox News.
Yes, socialist Venezuela, the country which was recently ranked the 5th happiest in the world, following four social democratic countries, presents a threat to Mitt’s vulture business model and his support base, who largely come from the 92,000 wealthy individuals who sequester their wealth in “tax havens” such as Switzerland the Cayman Islands. (See rt. com for its report on “The Price of Off Shore Revisited”.
After President Chavez was elected to office in 1998, Venezuela has had currency controls in place to prevent its national wealth from being looted and sent to extra-territorial banks, a model which defeats the efforts of would-be off shore tax evaders in Venezuela. Other countries have allowed themselves to be systematically raped of their needed tax revenues.
Venezuela also jailed its criminal banksters for speculating with their depositors money. Here, Mitt, you would likely be in jail for creating tax-evading investment vehicles in the Cayman Islands. No, socialist Venezuela, under President Chavez, is definitely not a vulture-capitalist friendly country. That is why it is now thriving.