Sunday, September 21, 2008

HA HA HA HA HA..... oops!

Chavez was happy to hear that Lehman Brother's has gone kaput. He said they should have been looking out for themselves instead of putting out negative reports about Venezuela.

Maybe Chavez should have checked with his personal wealth manager to find out if the Lehman demise would affect his portfolio. According to the Wall Street Journal, Venezuela stands to lose about $300 million in debt instruments that Lehman had agreed to cash. Oops.

Sure, it's not billions, but it's not chump change either.

It's just funny that Chavez ridicules Lehman, but forgets he has business dealings with them.

1 comment:

Anonymous said...

Funny ting is that Lehman has always recommended buying Venezuela's debt recently. from a recent report:

"There is almost no risk," said Lehman Brothers economist Gianfranco Bertozzi, referring to the likelihood of a default. "It's all good."
After all, with oil at current prices, crude-rich Venezuela can raise the money it needs to service all of its 2008 external debt in less than two weeks, Bertozzi said.