The economy minister of Argentina resigned yesterday because she could not explain why there was a satchel in her office that contained the equivalent of $64,000.The Merval was down almost 2% yesterday but is recovering a bit today.
This serves as a reminder that there is still the potential for corruption to exist in popular, exotic investment destinations. The thesis for Argentina (not a country I own and I don't know the story very well) does not change as a result of this but it serves as a reminder that things that cannot be planned for will still come along every now and then which serves to increase volatility.
This sort of thing thing can happen anywhere. While this not serious another episode in the future could be.
6 comments:
She should have said she just answered the $64,000 question.
Maybe she went long Brazil in the Copa America?
Don't cry for her Argentina!
I was very young at the time, I vaguely remember the program (The $64,000 Question). There’s a very informative article on the show and it’s downfall, from Wikipedia.
The link is here:
http://en.wikipedia.org/wiki/%2464%2C000_Question
From the article;
“It was believed that U.S. President Dwight D. Eisenhower himself did not want to be disturbed while the show was on the air and that the nation's crime rate and movie theater and restaurant patronage dropped dramatically when the show was on.”
Fortunatly in the US this kind of thing is legal.
Wonder how many millions Cheney and his friends are going to walk away with after the Iraq war.
Oh forgot, you seem to be one of those brainwashed Americans, only happens outside of America...
Leave it to a far left pimp to trash politicians who made their fortune in a legitimate business rather than by gaining tainted cash from a "foundation", trial lawyer's bonanza or their father's monopoly on black market scotch.
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