Evo Morales, Rafael Correa

Chaos and the Left

There’s a certain tendency among conservatives to see the macroeconomic chaos Venezuela is experiencing as the inevitable result of radical leftist government. But this must be one of the easier fallacies to refute: Latin America is peppered with radical leftist governments that are chipping away at democracy in a context of macroeconomic order and growing prosperity. Prof.…

39 stories up on One Liberty Plaza (foreground on the right)

Moron Risk

It’s hard to pick out which is the more munificent of the money quotes in Katia Porzecanski’s Bloomberg piece about Wall Street investment banker types mobbing the Manhattan law offices of Cleary Gottlieb Steen & Hamilton LLP to grill the lawyers with “what ifs” about the Venezuela default they all expect. Is the most surprising detail that such…

AREVENCA 1

The “pet cock” gave them away

Five weeks ago, our pal Setty published a terrific article for the Columbia Journalism Review on scams and the media. Using Arevenca, the scam Venezuelan company whose president, Francisco Javier González, has allegedly been involved in several shady deals, Setty goes on to explore the role of the media in (sometimes) publicizing scams. The money quote: “The website looked fine—dozens…

Trojan-Horse

The Castillian horse

This article by Spain’s El País is a bombshell. In a secret report, Venezuelan ambassador to Spain Mario Isea talks about the opportunity chavismo has in Podemos, the upstart party that is leading in the polls in Spain. That Podemos is Spain’s version of chavismo is no news. That the memo, part of a presentation…