Posted on 02/04/2015 8:22:33 AM PST by NormsRevenge
The head of Brazil's state-run oil giant Petrobras and five senior executives have resigned in the wake of a huge corruption scandal.
Maria das Graças Foster's departure follows the arrest and testimony of some three dozen executives at Petrobras and many of its suppliers.
The board of Petrobras is due to meet on Friday to elect new executives.
The scandal involves alleged price-fixing, bribes and kickbacks, which implicates Brazil's ruling party.
Prosecutors have uncovered around $800m in bribes and other illegal funds. More than 200 businesses are being investigated and more than 80 people, including three former executives from Petrobras, are facing possible charges.
How much did he stick in that stinkhole of a company?
The same one Obama lent billions of dollars to.
Big Oil? looted by lefties.. so what else is new?
Well it’s a good sign for Brazil that this was uncovered and arrests are being made I guess.
Hey Fernando, choo gut enough? ... Me too ... le’s quit, si?
Last November ..
—
Petrobras scandal will ‘change Brazil’ says president
http://www.bbc.com/news/world-latin-america-30077104
Brazil’s President Dilma Rousseff has said investigations into corruption at the state-owned oil company, Petrobras, could change the country forever.
She was speaking for the first time since the arrest on Friday of 23 people suspected of corruption and money-laundering.
They include top executives of companies which had contracts with Petrobras.
President Rousseff chaired the board of Petrobras from 2003 to 2010.
“It is a symbolic case for Brazil,” she said.
—snip—
They sound like they’re qualified to hand out solar power subsidies for the DOE.
A few big hogs slop luxuriously while the masses live day to day in ghettos and bikinis.
can’t wait til the Olympics.
Get ready to count the bodies that mysteriously appear.
South America is almost as bad as Africa for self-inflicted damage.
There’s Venezuela and Bolivia dying from elected totalitarianism, Argentina killing their own prosecutor, and what’s that country that had over 100 coups in the last 50 years - Paraguay? Uruguay? Now more Brazilian BS. It never stops down there.
What a continent.
Stated-run corporations have elements of corruption? But-but-but I thought when the STATE ran things, corruption was impossible. Isn’t it against the law, or something?
(Jeez, people can’t you see sarcasm when it DRIPS?)
Most of the George Soros financed enterprises have some element of corruption, and the cash flow DEPENDS on the corruption being so deep and pervasive it cannot be rooted out easily.
I’m shocked, SHOCKED I tell you! to learn there is corruption in Brasil...
/sarc
Having lived in Brasil, I learned long ago the only way anything gets done in government there is through bribery - it’s the way they do things.
And that’s a direct result of an intrusive government that tries to insert itself into every aspect of life.
But, but, the CEO of Petrobras was a woman. I thought with women in charge of big corporations, there would be less of this, and more nuanced and ethical governance?
A man MUST be behind her setting fire to Petrobras like this. No woman would do this of her own volition.
Clearly, Dilma needs to nationalize this company for the good of the people.
Remember all the McKinseyites and Andersonites and Cap Geminites who were bleating all this effluvia about how the BRIC countries were going to transform the world and eclipse the US (much as they said Japan would in the 1990s)?
The only one with a SHOT at living up to that vision right now is India, and ONLY since they came to their senses and elected Modi.
It’s a three step test:
1. Is there the right to own property?
2. Can you enforce contracts in fair courts of law?
3. Do people have the right to assemble, and to freedom of speech?
If any market fails these tests, then they are unsuitable for investment. You can’t make a free market there.
Brazil, Africa, Chicago - any place where it takes massive bribery to establish a business - you know its ultimately going to fail there. Competition can’t happen there. Prices become artificially high, the product becomes intentionally deficient, demand is enforced by force of regulation.
Are there no corrupt international clowns to whom Obama will not give OUR tax dollars?
only difference is they’ve been caught.
Here? not yet.
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