Again, the Banco de Venezuela is a source of news. And, for very personal reasons, I have always felt akin to the Bank, I will tell a story. Because I think a few talkative office will say that "this government is leading us to communism, nationalizing private companies and public services, as in any good dictatorship."
Many of you remember what happened back around 1990. The president of Banco de Venezuela was Carlos Bernardez. For reasons I can not specify, the Bank of Venezuela in the street had a number of actions, for small investors, who pledged to the Bank, when they got out of hand that country's banking institutions acquired those shares. WRONG.
I remember that Mr. Orlando Castro, president of Progressive Financial Group, made bids to acquire the shares were held by these small investors. Carlos Bernardez wanted to prevent this, but the offer of Mr Castro was very generous and gained so many actions which became a major shareholder of Banco de Venezuela. When Mr. Castro wanted to assert his right as a shareholder of the bank in question, the people of Banco de Venezuela would not allow it, which led to Mr Castro to sue, in the appropriate courts, the board of directors of that bank. The decision of the competent court was in favor of Mr Castro, but also Carlos Bernandez not allowed entry to Mr Castro on the board of the Bank above the law, ignoring the court ruling. Ruled on these days Mr. Carlos Andres Perez.
On April 27, 1993, as a result of the conflict share, nearly three years of litigation, the control of Banco de Venezuela is taken by a financial alliance led by Mr Castro, the Consolidated Bank and Union Bank. (Orlando Castro, Alvarez and Ignacio Salvatierra Steling).
But this is where comes the best ever. After more 15 months of financial alliance management mentioned above, the Venezuelan state (Rafael Caldera) ruled on August 9, 1994, nationalize , read it, nationalize , and acquire the majority shareholding of Banco de Venezuela.
What was the reason for this action by the government of Caldera?
But guess one question: Do you know who he was, at that time, the director of the Superintendency of Banks? This easy. Did not you imagine? Well they are going to say, nothing more and nothing less than BERNANDEZ CARLOS. How about?
Now I wonder, how can a man who came to preside over one of the largest financial institutions the country, became a public employee. But even he was minister of a "pod" and forgive me the word. No, Why would he be a minister? That man I wanted was to pass bill to Orlando Castro. How Orlando Castro pretended to want to sit beside him on the board of Banco de Venezuela? That foot in the ground, that Cuba, which who knows how to made money in our country.
And the other question: Why Rafael Caldera as possible?
Do you remember what came next? The Great Escape of bankers, who took, who knows how many millions of savers Venezuelan Bolivares. Or Carlos Bernandez advantage of this situation to break Orlando Castro financially?
In December 1996, was auctioned by the Bank of Venezuela, and Fogade awarded the bank Grupo Santander. The stake bought by the Santander Group is 93.38%, which meant in U.S. dollars U.S. $ 351.5 MM. Venezuelan state remaining 6.62% of these shares.
Do not go now, shit talkers to criticize and demonize the current government, now if there is reason to nationalize the bank. Caldera
not had, and did, as was typical of him: Authoritarian. And nobody said anything at that time, despite the despicable act that was done to Orlando Castro, no one defended. Make
memory and draw account.
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