Wednesday, February 24, 2010

Complaints from Carlos

Carlos Salinas says that Mexico should make an effort to transfer the ownership of banks operating on national soil to Mexicans. He argues:
The Germans wouldn't permit its banks to be held by foreigners. Now that in the US their banks went under, they didn't let any foreigner arrive to save them, they don't let foreigners in.
This strikes me as odd, not least because one of those most responsible for the influx of foreign banks is Salinas himself. Furthermore, I don't know about Germany, but the argument about the States is just not true. To take but one obvious example, Barclays acquired Lehman Brothers in 2008. Other foreign banks, from Credit Suisse to ING, operate on US soil, and have long done so. Why is Salinas lying? And when did he turn into a populist on financial issues?


Richard said...

When did Salinas ever tell the truth?

pc said...

I'm not even sure he can distinguish it half the time. That guy's a used car salesman.