BetterTrades is here to provide the best stock market education and coaches. Freddie Rick is here to teach you about trading and investment .
--------------
Brazil's Ruling Party Diverted US$ 4.5 Million from Bank of Brazil and Lula Is in Danger
Written by Newsroom
Saturday, 05 November 2005
Brazilian opposition leaders announced that President Luiz Inácio Lula da Silva will be included in the months-long corruption probe, following revelations that money diverted from a government managed bank funded a network of illegal payments by the ruling Workers Party, PT.
"We found the trail by which money from government ended as PT's slush funds. Clearly it shows how public funds were used for private interests," said Friday Senator Alvaro Dias from the opposition Brazilian Social Democracy Party (PSDB).
Senator Dias demanded that evidence of irregularities uncovered by the Congressional Investigation Committee be immediately presented to the Attorney General's office, so prosecutors can begin a criminal investigation of Lula's administration.
Based on the findings of the legislative committee investigating corruption allegations, 10 million reais (approximately US$ 4.5 million) were diverted from the state-run Banco do Brasil to the ruling party PT.
The diversion of funds was announced Thursday by Lower House member Oscar Serraglio who heads the committee investigating the alleged PT network for financing political campaigns and ensuring votes in Congress.
Banco do Brasil has acknowledged that last October it opened an internal investigation to probe the diversion of funds "loaned" to an advertising agency linked to the PT.
"We discovered that the loans were part of an operation to divert money from the bank to PT through public relations expert Marcos Valério," indicated Serraglio.
Valério revealed before a Congressional committee that during 2003 and 2004 he collected the equivalent of US$ 22 million for PT treasurer Delúbio Soares, part of it "loaned" through the Bank of Brazil.
Opposition leaders said that following four months of investigations, they had finally found the evidence they were looking for: evidence that financial irregularities were not limited to illegal campaign financing, as the PT has repeatedly contended.
"The evidence shows diversion of public funds to benefit the ruling party. Now, all President Lula administration officials are under suspicion," said Senator Arthur Virgílio do Carmo from the opposition PSDB.
Senator Alvaro Dias said the opposition so far had focused its attacks on the PT and had been lenient towards Lula, but the new revelations "have shown a completely new picture". Folha do Sao Paulo reports that a close presidential advisor admitted President Lula was "concerned" because most probably the conclusions from the Congressional investigation committee are "truthful."
However he insisted President Lula was unaware of the illegalities and blamed PT treasurer Soares for the slush fund network operation.
Stupid guy..... written by Guest,
November 05, 2005
...what does your stupid comments do...in answer to a brazilian corruption article ???????
Do Brazilians want now to control the Mexican democracy ???????
All those people who do not share your views....are enemies and should be expelled from their own countries....that bare not even yoiur country ?????????
Come on !!!!!!
The only people who starve Latin American citizens.....are the elites and politicians...that YOU elected !!!!!!
It is why Brazil has the world worst wealth inequality.....after Sierra Leone !!! Nothing to be proud of ! Nothing to do with any foreign nation !!!!!
You are quite anti democratric and no doubt you regret the good old times when you were under military regime. You could do anything you wanted...as long as you were with the junta !!!!! Otherwise.....jail or worse were the only place.... for those who expressed different views......loudly !!!!!!!
Why dont you revolt against your own elites and politicians who are corrupted to the roots...Lula and his gang even deeper than previous governments ?????????
The people you elected and the decisions they have taken during the last 50 years...is reflected in your today's sad reality !!!!
Total mismanagement, lack of accountability, deep corruption at all levels, wealth inequality, lack of education, healthcare and lack of infrastructure, housing, poverty and hunger are the results of their accomplisments ! Nobody elese is responsible. Always too easy to say...it is because of others !!!!! NOOOOOOOOOO.....
report abuse
vote down
vote up
Votes: +0
Corruption\'s nothing new. written by Guest,
November 06, 2005
Corruption is nothing new to Brasil and everyone had to know that the shifty Lula would be in on it. Wonder if his communist buddies Chavez and Castro will bail him out? How much did Lula get from Chavez during the presidential campaign? It was interesting while watching TV coverage seeing all the old Soviet Union flags and shirts mixed if with the Brazilian flags. Is this what Brazilians want? Wake up--communism failed and socialism is failing all over the world(look what is happening in France). Democratic society is not perfect but an educated people who self determine typically have a more fair society. Before you blame the US and Bush--look at what your own elites and government are doing to keep people down. Throw the bums out and elect men and women of character. God bless Brasil. T3
report abuse
vote down
vote up
Votes: +0
FUN,FUN and more FUN written by Guest,
November 06, 2005
Funny, Why everybody is so upset with corruption scandals in that damn country?
Corruption is endemic in Brazil and it is the national pass-time of Brazilian politicians and some other high placed SOB's.
Whining just because US$ 4.5Mil just gone up in smoke?
Go check what did NOT transpired yet about corruption schemes.How much is going silently to Swiss accounts instead of Welfare? Nice and cozy, isn't it ? Don't you guys know better?
US$45 or whatever amount of money stolen from you (the people who pay taxes) is NOT a real concern of the brazilian people.
The major concern is the eventuallity the government closing down the major soccer fields, setting up beach taxes (no tax paid, no beach .Period.) and stop the beer flow and just to wrap it up forbid carnival.
If such happens then I'll see a REAL bloodshed taking over the country.
The brazilian people doesn't have enough brain to look and see what really is going on around them. Basically they are stupid and brain-dead.
They can't see farther away than the glass of beer they are holding in their shaking hands. But then, who cares? Let the politicians have a good time using the tax payer's money. YOUR money.,Dumbo!
And the best(wost) of all, no matter who will be next "President", things will NOT going to change unless you guys stop drinking beer, crank up what is left alive of your brain and start to challenge the "status quo" then you'll see better days.But then again, fat chance, right?
You have tested all the political avenues when electing presidents no matter who NONE worked out for good no matter what party the guy came from,, PT,PSD,PTB,XYZ,SOB .. etc.
I just wonder if the current "President" will be re-elected as no alternative option is at hand.FUN,FUN,FUN.
The current president was elected without a hint of the English language, then there is no reason to teach English for the future diplomats says the Genius.
BULLSHIT. This demonstrates that your President is...... (you fill out the dotted line.
Like man, you deserve every bit of shit you eat due to the inactivity from your part.(the people).
I'm NOT advocating a revolution, take down the Governent by force or any other means whatsoever. Let this be well understood. That's is NOT the way to make your country a better country.
Perhaps I'm teaching the Gospel to the Pope but heck, writing these lines was just FUN,FUN and FUN.
The small, coastal town of Condé is located just a twenty minute's drive from João Pessoa, the capital of Paraíba. The Northeast of Brazil has historically been a place of encounter and mixing between peoples. For millenia groups of indigenous people fished, farmed, migrated and sometimes fought along this large, fertile area.
The Brazilian diplo-MÁ-cia (bad diplomacy) carries on its accelerated course towards the non-acknowledgment of human rights, although sometimes it takes pleasure in saying that it does precisely the opposite. The visit of Iran's president, Mahmoud Ahmadinejad, is another example of a diplomatic omission that verges on hypocrisy.
On July 4, 2006, representatives of Argentina, Brazil, Paraguay and Uruguay met in Caracas to sign the protocol for the entrance of Venezuela into the Southern Common Market (Mercosur). After two and a half years, the protocol was approved by the legislative bodies of Argentina and Uruguay, and as of now it may be only days away from being ratified by the continent's economic megalith, Brazil.
Some sectors of the fight against AIDS have suggested that Thabo Mbeki, the former president of South Africa, committed genocide through his absence from the fight against the illness in his country throughout his two terms.
One hundred and eleven years after Brazil abolished slavery, the number of workers deprived of their freedom is still huge. They raise cattle, produce charcoal, sugar cane or timber. Some of them, most undocumented Bolivians, work in basements of small apparel factories in São Paulo and other metropolis.
On November 7, 2009 a few friends and I had an opportunity to take a look inside a Brazilian jail outside the city of Rio de Janeiro. We were able to take some amateur footage of our experience on video (see link below). It's no surprise, of course, that the typical Brazilian jail lacks some of the functionality of those in North America or Europe, but our experience that day was quite shocking.
Depletion of the Amazon Rainforest is not a new concern facing environmentalists, biologists, ecologists, and a growing number of the Amazonian indigenous peoples. For decades they have feared for the fate of the world's most biologically diverse and species-rich hothouse.
Geisy Arruda made history this week in Brazil, but for all the wrong reasons. What began as a poorly planned fashion statement has become a worldwide tale. Geisy decided to wear a pink mini-dress to her private college in São Paulo state, and after that, all hell broke loose.
The push of vigilante groups in Rio de Janeiro's favelas (shantytowns) in the last three years is the most important and alarming information of the just-released study by the Rio de Janeiro University's Violence Research Center (Nupev-Uerj).
A dispute over drug trafficking territory in Rio de Janeiro has intensified lately, leaving in its wake unprecedented acts of violence, such as the downing of a police helicopter in the northern zone of the city on October 17. Three policemen died and another two were injured. This event has drawn the attention of the international media, who are raising the issue of public security for the 2016 Olympics to be held in Rio.
Subscribe to this comment's feed
The small, coastal town of Condé is located just a twenty minute's drive from João Pessoa, the capital of Paraíba. The Northeast of Brazil has historically been a place of encounter and mixing between peoples. For millenia groups of indigenous people fished, farmed, migrated and sometimes fought along this large, fertile area. 
The Brazilian diplo-MÁ-cia (bad diplomacy) carries on its accelerated course towards the non-acknowledgment of human rights, although sometimes it takes pleasure in saying that it does precisely the opposite. The visit of Iran's president, Mahmoud Ahmadinejad, is another example of a diplomatic omission that verges on hypocrisy. 
On July 4, 2006, representatives of Argentina, Brazil, Paraguay and Uruguay met in Caracas to sign the protocol for the entrance of Venezuela into the Southern Common Market (Mercosur). After two and a half years, the protocol was approved by the legislative bodies of Argentina and Uruguay, and as of now it may be only days away from being ratified by the continent's economic megalith, Brazil. 
Some sectors of the fight against AIDS have suggested that Thabo Mbeki, the former president of South Africa, committed genocide through his absence from the fight against the illness in his country throughout his two terms. 
One hundred and eleven years after Brazil abolished slavery, the number of workers deprived of their freedom is still huge. They raise cattle, produce charcoal, sugar cane or timber. Some of them, most undocumented Bolivians, work in basements of small apparel factories in São Paulo and other metropolis. 
On November 7, 2009 a few friends and I had an opportunity to take a look inside a Brazilian jail outside the city of Rio de Janeiro. We were able to take some amateur footage of our experience on video (see link below). It's no surprise, of course, that the typical Brazilian jail lacks some of the functionality of those in North America or Europe, but our experience that day was quite shocking. 
Depletion of the Amazon Rainforest is not a new concern facing environmentalists, biologists, ecologists, and a growing number of the Amazonian indigenous peoples. For decades they have feared for the fate of the world's most biologically diverse and species-rich hothouse. 
Geisy Arruda made history this week in Brazil, but for all the wrong reasons. What began as a poorly planned fashion statement has become a worldwide tale. Geisy decided to wear a pink mini-dress to her private college in São Paulo state, and after that, all hell broke loose. 
The push of vigilante groups in Rio de Janeiro's favelas (shantytowns) in the last three years is the most important and alarming information of the just-released study by the Rio de Janeiro University's Violence Research Center (Nupev-Uerj). 
A dispute over drug trafficking territory in Rio de Janeiro has intensified lately, leaving in its wake unprecedented acts of violence, such as the downing of a police helicopter in the northern zone of the city on October 17. Three policemen died and another two were injured. This event has drawn the attention of the international media, who are raising the issue of public security for the 2016 Olympics to be held in Rio.
Do Brazilians want now to control the Mexican democracy ???????
All those people who do not share your views....are enemies and should be expelled from their own countries....that bare not even yoiur country ?????????
Come on !!!!!!
The only people who starve Latin American citizens.....are the elites and politicians...that YOU elected !!!!!!
It is why Brazil has the world worst wealth inequality.....after Sierra Leone !!! Nothing to be proud of ! Nothing to do with any foreign nation !!!!!
You are quite anti democratric and no doubt you regret the good old times when you were under military regime.
You could do anything you wanted...as long as you were with the junta !!!!! Otherwise.....jail or worse were the only place.... for those who expressed different views......loudly !!!!!!!
Why dont you revolt against your own elites and politicians who are corrupted to the roots...Lula and his gang even deeper than previous governments ?????????
The people you elected and the decisions they have taken during the last 50 years...is reflected in your today's sad reality !!!!
Total mismanagement, lack of accountability, deep corruption at all levels, wealth inequality, lack of education, healthcare and lack of infrastructure, housing, poverty and hunger are the results of their accomplisments ! Nobody elese is responsible. Always too easy to say...it is because of others !!!!! NOOOOOOOOOO.....