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Montevideo, November 27th 2022 - 19:39 UTC
Center-left populist presidential candidate Ciro Gomes vowed on Wednesday to reduce concentration in Brazil's banking sector if elected in October, warning that he would open the sector up to more foreign competition if necessary. Read full article
Ciro Gomes....another deluded, populist, leftist fool....spouting his lies for the ignorant to lap up...
REF: Ciro Gomes pledges to de-concentrate Brazil's banks:
Looks like the banks refused to support his campaign!
Funny, nobody thought of THIS:
Hmmm, I don't think the UK banking sector has much variety either; I wonder if Americans get a better deal than we do, due to their thousands of banks? I heard you have to pay every month to keep a bank account there, but on the plus side you can get a free gun when you open one. ;)
At least Ciro isn't planning to use public money for the debt relief, but discounted credit to presumably high risk individuals, plus lower reserve requirements, sounds risky. What if Brasil has a crisis like the US did with the subprime mortgages?
At least Ciro isn't planning to use public money for the debt relief...think again.
The bank of Brazil, federal bank, will re-finance the millions in debt...that (most of) will very likely not be paid...eventually, as in several similar situations, the bad payers are let off the hook....the bank will simply subsidize the debt while the bad payers rack up more debt...and the subsidy will be indirectly passed on to society ...or, the 'idiots' who pay their bills on time....If you had the slightest clue as to how this sh*t works here, with very little transparency in public finances, you wouldn't be so confident....The several cases I mention above, are those where bad payers are amnestied (unpaid taxes), while the good payers (share the cost and) are made to look like fools...
REF: 63 million listed as delinquent debtors
and REF: ”bad payers are amnestied (unpaid taxes), while the good payers (share the cost and) are made to look like fools”:
Where Ciro stands/falls:
Ciro is inconsistent, as his his chopping and changing parties shows.....his propsals are absurd, but unfortunately they are what the ignorant masses love to hear...
Ciro is lucky - the masses [no matter how ignorant] at least are willing to lend him an ear:
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