Venezuela Assembly Gives Chávez Decree Powers

[Richard]

Surprise!

And so it goes with the 'Great Latino Community Organizer' in the land of $.10/gal gasoline and circuses.

Richard

Venezuela Assembly Gives Chávez Decree Powers
Buenos Aires Herald, 18 Dec 2010

Venezuela's parliament gave President Hugo Chávez decree powers for 18 months, outraging opposition parties that accuse him of turning South America's biggest oil producer into a dictatorship.

The firebrand socialist leader says the special fast-track powers are essential for him to deal with an emergency caused by floods that have killed about 40 people and driven nearly 140,000 more from their homes.

Chávez had asked for decree powers for one year, but the Assembly -- which is dominated by loyalists from his Socialist Party -- decided to increase that to 18 months.

The vote was part of a legislative onslaught to entrench his self-styled "21st century socialism" in the country. Earlier, parliament passed a law making it easier for his government to nationalize banks and trim their profits.

The "Enabling Law," which means the president can issue decrees across a wide range of areas including housing, land, finances and security, has been denounced as autocratic by his political rivals as well as by the US State Department.

Private banks, businesses and property owners are bracing themselves for another wave of nationalizations by the charismatic former soldier, who has taken Venezuela down a steadily more radical route during his 11 years in power.

The new banking law passed earlier creates stringent operating rules that include forcing banks to give 5 percent of their profits every six months to community groups.

It also allows Chávez to order the takeover of institutions that he deems problematic, a move previously made by the banking watchdog. Chávez has increased the state's role in the sector this year, but a total takeover of banking is unlikely.

http://www.buenosairesherald.com/Bre...ews/View/54248

[CombatMuffin]

The new banking law passed earlier creates stringent operating rules that include forcing banks to give 5 percent of their profits every six months to community groups.

So politically he is "taking away from the financial institutions to help the people," which sounds good in theory... until we find out those community groups are his personal coffers.

[greenberetTFS]

Originally Posted by Richard

Surprise!

And so it goes with the 'Great Latino Community Organizer' in the land of $.10/gal gasoline and circuses.

Richard

Venezuela Assembly Gives Chávez Decree Powers
Buenos Aires Herald, 18 Dec 2010

Venezuela's parliament gave President Hugo Chávez decree powers for 18 months, outraging opposition parties that accuse him of turning South America's biggest oil producer into a dictatorship.

The firebrand socialist leader says the special fast-track powers are essential for him to deal with an emergency caused by floods that have killed about 40 people and driven nearly 140,000 more from their homes.

Chávez had asked for decree powers for one year, but the Assembly -- which is dominated by loyalists from his Socialist Party -- decided to increase that to 18 months.

The vote was part of a legislative onslaught to entrench his self-styled "21st century socialism" in the country. Earlier, parliament passed a law making it easier for his government to nationalize banks and trim their profits.

The "Enabling Law," which means the president can issue decrees across a wide range of areas including housing, land, finances and security, has been denounced as autocratic by his political rivals as well as by the US State Department.

Private banks, businesses and property owners are bracing themselves for another wave of nationalizations by the charismatic former soldier, who has taken Venezuela down a steadily more radical route during his 11 years in power.

The new banking law passed earlier creates stringent operating rules that include forcing banks to give 5 percent of their profits every six months to community groups.

It also allows Chávez to order the takeover of institutions that he deems problematic, a move previously made by the banking watchdog. Chávez has increased the state's role in the sector this year, but a total takeover of banking is unlikely.

http://www.buenosairesherald.com/Bre...ews/View/54248

OMG,another Castro in the making.............. Who would have thought?....

Big Teddy