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Posts Tagged with "JP Morgan Chase"

10 things you should know about slavery and won’t learn at ‘Django’

February 4, 2013

Much hullabaloo has been made recently about slavery as entertainment in movies like “Django Unchained.” But lost in the discussion is slavery as history. Though sadistic and macabre, the plain truth is that slavery was an unprecedented economic juggernaut whose impact is still lived by each of us daily. Here’s my top-10 list of things everyone should know about the economic roots of slavery.

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The nationalization of Banco de Venezuela

August 2, 2008

Banco de Venezuela is one of the most important banks in Venezuela, with a 12 percent share of the market in loans and obtained profits of US$170 million in the first half of 2008, a 29 percent increase on 2007, when its profits had already increased by 20 percent. It has 285 offices and 3 million customers. Banco de Venezuela was nationalized in 1994 after a massive banking crisis which bankrupted 60 percent of the banking sector, only to be privatized in 1996 and bought by the Spanish multinational banking group Grupo Santander for only US$300 million. In only nine months Grupo Santander recovered its original investment.

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