Hugo Chavez Isn’t Done Yet
Fresh off of Tuesday’s nationalization of Venezuela’s oilfields, Hugo Chavez is now threatening to nationalize the nation’s banks and steel industry if they fail to comply with his wishes:
CARACAS — President Hugo Chavez renewed his nationalization threats and this time threatened steel company Sidor and Venezuela’s banks with a possible state takeover.
If Sidor fails to prioritize steel for local production “they will force me to nationalize it,” Mr. Chavez said in televised remarks. “I would rather not do it … Sidor takes raw material overseas to produce stainless steel pipes. We cannot allow that.”
The leftist leader also noted that the banking system must help finance companies under the new Socialist system he promotes.
“Privately owned banks must prioritize low-cost financing for Venezuela’s industry. If they don’t want to do this they can leave, they can give us the banks, we can nationalize them.”
Never mind Francisco D’Anconia. Where the heck is Midas Mulligan ?
