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Judi Lynn Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-17-08 05:37 PM
Original message
Colombia declares state of emergency
Source: The Star (Canada)

Colombia declares state of emergency
Nov 17, 2008 05:19 PM

LIBARDO CARDONA
THE ASSOCIATED PRESS

BOGOTA, Colombia–Colombia has declared a state of emergency to crack down on illegal investment schemes that lured millions of people with promises of improbably high payouts, only to collapse amid rioting.

Government officials vowed to repay the poorest investors and sent police to shut down other alleged pyramid scheme operations today, even though some loyal clients marched through the streets to defend companies that had offered interest rates as high as 150 per cent a month.

"Citizens should understand that the government is protecting them," Interior Minister Fabio Valencia said as he announced the emergency measures. They include boosting prison terms for those who illegally collected money to 20 years from six, and giving mayors and governors police powers to shut down such businesses.

~snip~
Furious clients stormed and looted local branches in rioting that left 13 towns under police curfew and two men dead last week. Officials seized 92.4 billion pesos ($42 million) from 68 of the company's offices and arrested 52 employees, police said.


Read more: http://www.thestar.com/News/World/article/538463
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safeinOhio Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-17-08 05:52 PM
Response to Original message
1. Amway?
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JJ Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-17-08 05:56 PM
Response to Reply #1
2. No, AIG
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Hulk Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-17-08 06:29 PM
Response to Original message
3. Is this "our stable democracy in Latin America" that we hear so many good things about?
Besides the humongous cocaine business, Colombia has more than their share of problems to deal with.

Perhaps we should focus on keeping their drug flow OUT of Mexico, and then we could do something more about the drug cartels in Mexico?

Awww...it's all just one crazy mixed up world, isn't it?
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judasdisney Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-18-08 05:02 AM
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4. Colombia: The Heart of Neocon Fascism on Planet Earth
Alvaro Uribe: the Neocon Trump Card
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Peace Patriot Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-18-08 09:46 AM
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5. I presume the people who are rioting are people with money to invest.
I don't know much about this latest scandal in Colombia--just that it rather dwarfs the scandal of high government figures (including Uribe) and their ties to rightwing death squads (murder of thousands of union leaders, small peasant farmers, political leftists, human rights workers, journalists and others), drug trafficking and other crimes.

But if I'm right, we are talking about "the rich" in Colombia--people with extra money that they got lured into investing in pyramid schemes. These would likely be the same folks who have been suckered by Uribe & co. into believing that brutality against the poor creates security, that an economy artificially propped up by $6 BILLION in U.S. military aid is stable, and that the Bushwhacks have Colombians' best interests at heart, for instance, in deregulating business ("free trade"--including a U.S./Bush handslap for Chiquita International execs who paid $1.7 million to death squads to murder some 4,000 union leaders and workers, over a seven year period--friggin intense deregulation!).

Most of Colombia is dirt poor. They don't have any money to invest. And they don't want fabulous riches--just decent wages and working conditions, or a little plot of ground to grow food for their families and a little extra for their local community. It is the delusional rich, the mostly urban dwelling privileged--the Uribe supporters--who dream of yet more riches--fabulous riches--to make them powerful like the corrupt SOBs who run their country (and this one). They see crime pay, big time--among their U.S. overlords and local, drug-running, peasant-killing lackeys. Why not them? Why can't they be that rich, too-- rich beyond the pale of the law?

As I said, I'm not yet sure of the demographics of the pyramid scheme victims, but this is my guess. They are imitating those whose lies they have believed, about what government is for--for the rich to get richer.

Uribe has a 60% to 70% approval rating among those who dare to speak their views in Colombia. The polls, and the votes, are likely heavily influenced by people getting chainsawed and their body parts thrown into mass graves, for expressing leftist opinions. So we really can't know what most Colombians think. But we do know that Uribe & pals seem to be popular in the few areas of Colombia where pollsters would dare to venture, and where people have the right views (the views that don't get you whacked). And it is these very folks--it seems--that now feel so betrayed that their ponzi scheme didn't work out, and their government didn't protect them. It's kind of like speculators on Wall Street who lost their shirts demanding that the government (i.e., yet to be born taxpayers) bail them out. Depending on the bracket of 'rich' of the Colombian victims, they probably will get bailed out--and the richer they are, they more bailout they will get.

But if the money from Amerika dries up in the near future--which it is likely to do (as the shit from the vast Bushwhack pyramid scheme hits the fan)--and the dreams of fabulous wealth among the privileged in Colombia go bye-bye, so may Uribe. Colombia is surrounded by healthy leftist democracies now--Venezuela, Brazil, Ecuador and throughout the continent. It will be difficult, but maybe Colombia could become an honest country with a good, democratic government. It's not impossible. It has happened in virtually all the countries with former U.S.-backed rightwing regimes or dictatorships--the above, plus Argentina, Bolivia, Chile, Uruguay, and most recently, Paraguay--of all places. If Paraguay can do it, so can Colombia.

That's what I hope--that the collapse of this pyramid scheme will be the beginning of reform in Colombia, at long last.
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