Argentina’s Cristina seizes the Central Bank

Another Banana Republic power grab on their banking system.

After a month of wrangling, Argentine President Cristina Kirchner succeeded in sacking central bank President Martin Redrado last week. In his place she named Mercedes Marcó del Pont, a Yale-trained economist who has expressed the view that central bank autonomy ought to be limited.

The refreshing bit in the article is that the central bank President actually seemed to be independent.. unlike in our country where they bend over and take it from congress and the President.

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