(snip)
Caracas also is described by U.S. officials as a gathering place for European leftists, retired East European intelligence officers and activists from countries on the U.S. list of state sponsors of terrorism. (Posted Washington Post article)
I wonder how they describe Caracas of only 11 or 12 years ago, when the U.S. fully supported mega-corrupto President Carlos Andres Perez was running things in their favor!
Things seemed to be going just fine as Carlos Andres Perez served at our Republicans' pleasure, and his people suffered mightily. I don't think our media even stirred to cover the massacre of hundreds of Venezuelans by Perez' orders when they dared to riot during some hard, hard times.
(snip)
Ex-President
Carlos Andres Perez
Reports from Dominican Republic say that authorities in Santo Domingo say they don't have a clue of the whereabouts of former Venezuelan President Carlos Andres Perez (CAP), wanted on an extradition warrant to face charges of corruption in Venezuela additional to his conviction a decade ago of multi-$ million corruption related to a secret government slush fund.
The news comes in the wake of the Venezuelan government's decision to suspend vital oil supplies to the Dominican Republic over its refusal to deal with ex-President Perez who has been using his luxury residence there as a base for further conspiracies against the government of his arch-enemy President Hugo Chavez Frias. It was a coup attempt by Chavez Frias in February 1992 that was the beginning of the end for CAP, who was impeached and kicked out of office the following year. He was convicted and served out a sentence under house arrest at his mansion in a southern suburb of Caracas.
CAP's decidedly anti-democratic activities in the Dominican Republic had already become an acute embarrassment for that country's President Hipolito Mejia who was faced with political problems from a pro-CAP "brotherhood" of shady Dominican politicians who had promised the Venezuelan ex-President a safe haven. Last week, President Chavez Frias recalled his Ambassador to Santo Domingo, and suspended further supplies of oil to the island until the problem is resolved.
Meanwhile, CAP has made good his escape and is reportedly enjoying the high-life in Manhattan where he maintains a luxury apartment close to New York's Central Park. Moves have already been made to have US authorities respect Venezuela's international extradition warrant but Washington appears to be dragging its heels (again!) in favor of Carlos Andres Perez to the point that Venezuela may be forced to apply "diplomatic restrictions" on oil supplies to the United States if the US Justice Department decides to "go slow" on this matter as well. (snip/...)
http://www.vheadline.com/readnews.asp?id=11131(If anyone's at odds with vheadline, feel free to do a simple search for "Carlos Andres Perez" to uncover THE SAME INFORMATION.)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~(snip) 1989 - Carlos Andres Perez (AD) elected president against the background of economic depression, which necessitates an austerity programme and an IMF loan. Social and political upheaval includes riots, in which between 300 and 2,000 people are killed, martial law and a general strike. (snip)
http://news.bbc.co.uk/2/hi/americas/1229348.stm~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~(snip) Case Study: The Venezuelan Banking Crisis
By Nick Rosen
The implosion of the Venezuelan sector had been coming for years. President Carlos Andres Perez, a free-market reformer who took power in 1989, had created an ostensible paradise for banking executives in Venezuela. He shielded the industry from foreign competition, while allowing banks nearly unlimited freedom from regulation. Consequently, bank directors engaged in high-risk lending—often to their own tenuous business ventures. These directors were also suspected of providing low-interest loans to the public sector enterprises in return for kickbacks. Allegations of corruption in the banking sector were rampant. In 1994, political and economic instability forced these problems to the surface, resulting in a “domino effect” of collapsing banks that eventually cost the government $11 billion and inflicted trauma on the Venezuelan economy that would last for years.
Prelude to the crisis
Corruption and fragile financial institutions were not new concepts in Venezuela, a nation with a history of banking problems. Despite numerous costly bailouts, the country never seemed to learn from its mistakes, and remained without solid regulation or an effective template for restructuring failed banks.
While times were high for the oil-rich Venezuelan economy, the dangerous flaws in the banking system remained latent, as asset values remained inflated by booming stock and real estate values. But, in an effort to stay competitive amidst booming profits, the worst-performing banks made increasingly riskier investments—including shadowy off-shore deals, lending to bank affiliates at favorable interest rates, and allegedly fraudulent and illegal activities. President Perez abolished limits on the interest rates banks could offer on deposits, giving banks the tools to raise fast cash despite the precarious state of their balance sheets. Predictably, these investments eventually began to fail, though problems did not immediately come to light as bankers shifted money between businesses in a shell game to conceal their losses.
When oil prices fell and the boom economy began to decline in the early 1990s, cracks in the edifice became visible. Severe political unrest set in, marked by successive coup attempts that rattled investors and caused ongoing capital flight.
President Perez was impeached on corruption charges in 1993, and the following election year ushered in bloating deficits and a new cycle of inflation. This compelled the central bank—whose warnings of an impending crisis seemed to fall on deaf ears— to ratchet up interest rates. The interest rate hike effectively cut off private borrowing—the banks’ main source of income— while banks were paying up to 65% to depositors. (snip)
http://www-1.gsb.columbia.edu/ipd/j_bankingVEN.html~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Apparently, all the really scary "European leftists," etc., etc. designated by
Bush brainiacs all raced in as soon as the right-wing slimeball, Carlos Andres Perez got in over his head, and fled the country, like Batista, too soon to serve his complete sentence for IMPEACHMENT.
They had probably been hiding behind trees on the Colombian border, ready to streak out and start sitting around in coffee houses, smoking, and showing off, in Caracas, the very moment Perez skeedaddled. The
Bushies really have their number, don't they?