MercoPress. South Atlantic News Agency

Pte. Lula blames US for turning “economy into casino”

Brazilian President Lula da Silva blamed the United States for the global financial crisis and said its financial bailout plan was unfair to poor people.

"They want to help the banks and not help the poor" Lula da Silva said on Saturday in Sao Paulo during a campaign rally ahead of the October 5 municipal elections. "Why give 700 billion US dollars to the banks and no money to the poor guys who lost their houses?" Lula da Silva asked, according to local media. He was referring to the US housing market and massive foreclosures. The former factory worker and union leader, who obtained record approval ratings this month, said the United States had the primary responsibility to fix a crisis with global repercussions that it had caused. "I'm not at fault if they turned their economy into a casino," Lula da Silva said in reference to accusations that lax US financial regulations worsened the crisis. He underlined that Brazil was in a better position to withstand the crisis than it was years ago, he added