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 The President of Brazil, Luiz Inácio Lula da Silva said on Thursday, September 18, that he has watched with "sadness" the collapse of Wall Street firms that made economic policy recommendations in emerging markets "as if they were the super intelligent and we were the poor souls."
"Important banks, very important banks, that spent their lives giving advice about Brazil and what we should or shouldn't do are now broke," news agency EFE quoted Lula da Silva as saying in a speech in southern Brazil.
Lula criticized Wall Street firms for treating financial markets like a "casino" and for relying on "speculation" to make money. He said the Brazilian economy is well-equipped to weather the global crisis and would suffer "very little" even if the US sinks into a deep recession.
Earlier in the week Argentina's Cristina Fernandez de Kirchner adopted a similar stance during a political rally. "While the First World collapses" because of the international crisis, Argentina remains "firm," she said.
"The First World, to which we had been repeatedly told we must reach, is crumbling like a bubble", Kirchner added. "In the midst of the swelling sea" Argentina remains strong. "It's time many of those institutions instead of telling us what to do, should look around and do something for themselves".
Meantime Brazil's stocks rallied on Thursday on optimism about a potential US plan to solve the financial crisis, while the Real tumbled but pared losses after the central bank said it would help ease a liquidity drought.
Sao Paulo's main stock index, the Bovespa, jumped 5.48% with Wall Street to a close at 48,422.75 points - its biggest daily gain since April. Even so, the stock market is still down more than 24% this year.
Brazil's currency, the real, dropped as much as 5%, its biggest daily drop in more than a year, as investors sought liquidity in a dried-up market. But losses eased after the central bank said it would offer dollar repurchase agreements to supply liquidity to the market and closed down 2.89% at 1.921 reais per dollar.
News that U.S. Treasury Secretary Henry Paulson has been shopping around a proposal to Congress that would create an entity to deal with bad debt boosted Wall Street, and Brazilian stocks with it.
The biggest weighted gainer was government managed oil corporation Petrobras which benefited from higher oil prices. It rose 8.05% to 32.20 reais while mining giant Vale gained 7.45% to 34.60 reais.
Banks also rallied, with Itaú, Banco Bradesco and Unibanco up between 6.6% and 8.6%.
However Brazil's Central Bank said robust economic activity continues to pose a significant risk to its goal of achieving benign inflation despite signs of a global slowdown and a decline in commodity prices.
Mercopress
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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. 
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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. 
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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.
and before lula was electid the real was 392 to the US dollar??
easy for them to poke fun when they dont do stocks just rob from the public
monies they were trusted with .to make there millions to take and hide elese where.
it all goes to show the casino style stock traders and the get rich quick ALL FAIL
sonner than later .
if you dont have money in your pocket dont spend it with plactic.
you never get out of dept , as the banks want you that way
look at the personal dept in brazil to the banks with there 33/1/3 % would take for ever to pay stuff off .
or by the time you pay it off you no longer have it as it has rotted away .
what i want to see is thies people throwing the congress and senet out a 20 storie window and then jumping out
after them .
glad i have no money tied up in that bag of worms called the gobal economy
in vest in land that grows food <