Chavez poised to take control of banks

Financial Times (UK) ^ | 9/1/2005 | Andy Webb-Vidal

[Santiago de la Vega]

Caracas - Venezuela is preparing to take political control of private banks as part of a drive to spread “revolutionary” government control over the economy of the world's fifth largest oil exporter. Trino Alcides Diaz, Venezuela's banking superintendent, has privately told the heads of several of the country's banks that President Hugo Chavez wants to place two government representatives on the institutions' governing boards.

[Desron13]

"Private companies across Venezuela are being asked to introduce “co-management” as the preferred model of corporate governance. Approval of new loans from state banks requires companies to formalize a minimum of 20 per cent worker representation on boards."

Ayn Rand, please call your office.

[Flint]

This is also in the same article: "The Chávez government is also implementing a programme to redistribute land from large estates to the rural poor."

Kind of has a familiar sound to it.

[bert]

.....and a supreme court willing to understand and enforce the rights of the people......

You imply such a state existed before Chavez. The people had only those rights allowed by the ruling oligarchy that controlled the wealth and didn't allow much to trickle down. The rebellion was against an Aristo ruling class that stifled their rights and abilities to grow and prosper.

Chavez is the other end of the sinusoidal cycle.