Zedillo

National
Against the invoices Payment
Zedillo
By: Carlos Damián September 13,2010
Ipab: Protection institute for the saving of the bankers
México.- According to information provided by the transnational financial American Citigroup - owner of the second bank of the country Banamex - the ex president of Mexico. Ernesto Zedillo, it will be incorporated as member of the administration Council of that consortium in April, 2010. To first sight the appointment would happen as recognition to the reputation of " expert economist" that Zedillo is there has wrought since to his exit of the cargo in December of the year 2000, was devoted to be moved in different entrepreneurial areas, academic and in financial organizations, something which has carried it to be performed as official of several transnational companies, as: Procter & Gamble, Alcoa, and Union Pacific, some of those which were seen widely benefitted during his mandate.

This supposed virtue beats, nevertheless with the non-expertise economic with which the graduate of the University of Yale was driven during its years in the federal government. After the arrival of Zedillo beat us the financial crisis - economic, in the one which met by equal the machinations of the federal government of Carlos Salinas and the incompetence of his succeeding, no matter how is pawned Zedillo of convincing us that the economic loss was responsibility of Carlos Salinas. In spite to the huge cost that this crisis threw in poverty and social uncertainty, the government of Zedillo opted for abandoning to their luck to you stratum means and low, and undertook on the other hand , each " rescue processes" in favor of a handful of entrepreneurs.

In agreement with the wave privatization unleashed during Salinas, Zedillo impelled and achieved the legal modifications approval that permitted foreign companies, be made of the assets property of the banking system in Mexico. At the same time it socialized the passive of the companies privatized in the six years elapse previous and executed, with the support of the legislators PRI-men and PAN-men in the Congress of the Union, a “banking rescue" that constitutes the greater robbery to the nation Treasure in the history of the country.

The personage Ernesto Zedillo can not be ignored of the facets of the ex president reprisal, the promoter of the policies contra- insurgents in Chiapas and Guerrero, and the responsible political of massacres such as: Aguas Blancas (1995), Acteal (1997) and el Charco (1998). What is mean, the member of the administration Council of Citigroup count on a counselor whose history drags so serious accusations that they have not been explained.

But is forgotten us Carlos Salinas de Gortari other ex president that three lustrous after jumps joyous to defend his decision of re-privatize the banking, and he asserts the close of his administration "the balance of the banks was not unfavorable: were facing problems, but not a crisis situation". based on official documents of 1993-1994; in June of 1994, 63 percent of the banks that happened to private hands was found in technical bankruptcy, that 73 percent remaining were to a step of such condition: to the close of the first semester of that year, the expired portfolio of the ex national credit societies meant 96.2 percent of their countable capital, almost three times but that in December of 1991 (Banking National Commission).

When it was fulfilled the re-privatization an old banker showed his preoccupation, since most of the institutions were sold to persons with " highly stock exchange culture", what is mean, "to persons whose usage is to make large businesses, with minimal risks and in very short term". The majority squeezed literally to the banks to recover dollar by dollar what had invested. The Mexican Banks Association, the new proprietaries of 18 ex national credit societies sold for the administration of Carlos Salinas had recovered, in average, 42 cents of each dollar invested to be remained with them. And happened what was logical.

A year after, in September of 1994, the recovery average, according to the same source, was approximated to 95 cents of each dollar. What arrived after is known: bankruptcy, "rescue", "reparation", foreigner bankers, 16 years after, only a bank re-privatized stays in Mexican hands, that of their original buyers: Banorte. To terminate these economic political maneuvers, the Expenditures undersecretary of the Estate Secretariat, Dionisio Perez Jacome, justified the “internal war" that registers Mexico with the following words inspirations: "one of the achievements in the war against the drug traffic is that the investors recognize, with their decision making, the empire of the State to right in the country".

This is confirmed convincingly the fact of that in the three years of the Mr. Calderon the Mexican capitalists have removed from the country 57 thousand 700 million from dollars. This quantity is the greater assets emigration from the December mistake of 1994; that by half of the quantity were privatized the banks in that unlucky year. We are not discovering the black thread. (La Jornada, economía, p.p. 2- 21, February 21, 2010).