Recent Blog Posts
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The Era of the Renminbi Is at Hand
Nov 20 20092:55 pm EDT -
Computer Glitch Snarls Air Traffic
Nov 19 200910:29 am EDT -
Dollar Doldrums? What Dollar Doldrums?
Nov 19 20098:48 am EDT -
American Express Makes a Revolutionary Deal
Nov 18 200912:05 pm EDT -
Calpers Puts Pressure on Private Equity Funding and Fees
Nov 18 200910:27 am EDT -
Madoff Makes Millions (for Others)
Nov 18 20096:04 am EDT -
Lazard Looks Within Its Ranks for New Chief
Nov 17 20091:44 pm EDT -
A Brutal Morning for Geithner
Nov 17 20098:02 am EDT -
GM to Start Payback
Nov 16 20095:57 am EDT -
She Rules
Nov 13 200910:48 pm EDT
Brazilian President's Comment Is a Lulu
Well. What to make of Brazilian President Luiz Inacio Lula de Silva's assertion today that the current economic slump is solely the fault of "white, blue-eyed" people? That "no black man or woman, no indigenous person, no poor person" had any role in the crisis, except as victim?
It's so obviously inaccurate (for a start: President Lula, meet E. Stanley O'Neal); fatuous (yes, indeed, successful bankers -- like, er, successful politicians -- generally are not poor people); and racist that it's perhaps best to ignore it as a brain fart.
The good news, for the most powerful Brazilian bankers anyway, is that Lulu couldn't have been referring to them. A quick check confirms that while every top official of the Brazilian Central Bank appears to be white, not one of them has blue eyes.
From top to bottom:
Henrique de Campos Meirelles, governor.Alvir Alberto Hoffmann, deputy governor for supervision.
Antonio Gustavo Matos do Vale, deputy governor for bank liquidation and privatization.
Alexandre Antonio Tombini, deputy governor for financial system regulation and organization.
Mario Magalhães Carvalho Mesquita, deputy governor for economic policy.
Mario Torós, deputy governor for monetary policy.
Anthero de Moraes Meirelles, deputy governor for administrative affairs.
Maria Celina Berardinelli Arraes, deputy governor for international affairs.
