The Daily Caller

The Daily Caller

JP Morgan’s Venezuelan cronyism reaches a boiling point

Photo of
Alek Boyd
Founder, Infodio.com
FILE - In this May 11, 2012 file photo, people stand in the lobby of JPMorgan Chase headquarters in New York. JPMorgan says it is facing a federal criminal probe relating to mortgage-backed securities sold before the financial crisis. (AP Photo/Mark Lennihan, File)

Forget about Tiny Rowland and his African adventures as an imperialist entrepreneur and dealmaker. The nastier face of capitalism has morphed into its 21st-century iteration: bankers. The idea that bankers are the world’s worst has been accepted and propagated by the left, setting up a dichotomy between “capitalism” and the power of the state. It may seem odd for someone like me to bash capitalism and entrepreneurship, but seeing what some ostensibly capitalist bankers and banks are doing these days, I can't help but empathize with the "progressive" attempt to paint bankers as parasites on the world’s productive class.

Venezuelan drug kingpins in power for (at least) four more years

1:03 PM 02/13/2013

In September 2008, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) called out three high-ranking officials in the Hugo Chavez regime for supporting the drug-trafficking activities of the Revolutionary Armed Forces of Colombia (FARC), a narco-terrorist organization. Their assistance to FARC included: supplying the group with weapons and ammunition, granting Venezuelan citizenship to group members, preventing law enforcement from interfering with the group’s drug-trafficking operations, protecting a wanted Colombian terrorist in Venezuela, allowing the group to use Venezuelan territory for drug-trafficking and terrorist activities, and even partnering in drug trafficking. In other words, these men are guilty of violating international law several times over.