Bankers traditionally face firing squads in times of revolution. But in Venezuela, they are having a party.
Dirán Sarkissián, president of the local subsidiary of Stanford Bank, a US bank with offshore operations based on the Caribbean island of Antigua, is proud of his rapidly lengthening list of high-net-worth customers who are enjoying President Hugo Chávez's self-styled "Bolivarian Revolution".
"As far as growth is concerned we're very happy," says Mr Sarkissián. That might be an understatement. Deposits have increased by 600 per cent to $106m (£57m, €84m) in the year since the boutique bank opened for business in Caracas …
He has Bankers too. David Osler linking a story in the Financial Times.
ReplyDeleteBankers traditionally face firing squads in times of revolution. But in Venezuela, they are having a party.
Dirán Sarkissián, president of the local subsidiary of Stanford Bank, a US bank with offshore operations based on the Caribbean island of Antigua, is proud of his rapidly lengthening list of high-net-worth customers who are enjoying President Hugo Chávez's self-styled "Bolivarian Revolution".
"As far as growth is concerned we're very happy," says Mr Sarkissián. That might be an understatement. Deposits have increased by 600 per cent to $106m (£57m, €84m) in the year since the boutique bank opened for business in Caracas …
Chavez is a fraud.
(Almost) everyone is entitled to their opinion, except those from outside the borders.
ReplyDeleteGood article:
http://www.informationclearinghouse.info/article15049.htm
Chavez might not be the optimal replacement for the sufurous one, but his message is needed on the airwaves.