• Nick Sorrentino

That's Socialism for ya: Venezuelan Ex-Treasurer Admits He Took $1 Billion in Bribes

What many newly minted "socialists" (most aren't, they are really welfare statists) don't understand is that socialism, and big government generally, is INHERENTLY CRONY. It is fundamentally corrupt. Socialism is for the socialists, not "the people". That is always the way. From Cuba to once socialistic Sweden, this has been true. Once the power is all vested in the state the people who run the state exploit the power of the state and by extension the people. There is no way around this. This is the nature of a system that seeks to deny the pricing mechanism and markets. That is to say - REALITY. Bureaucrats prosper in niches created by price controls and deep regulation.

Castro died a multi millionaire many times over. Hugo Chavez's favorite daughter is a billionaire. Socialism is a JACK.

One BILLION in bribes allegedly while people starved. Consider that.

(From The Wall Street Journal)
A former Venezuelan national treasurer who pleaded guilty to money laundering admitted he took bribes of over $1 billion from businessmen to allow them to conduct illicit foreign-currency transactions even as the once-oil-rich country’s economy collapsed, the U.S. said Tuesday.
In a statement, the U.S. Justice Department said Alejandro Andrade pleaded guilty to one count of conspiracy to commit money laundering under seal last December in federal court in Miami. The statement said that Mr. Andrade, a former bodyguard for the late Venezuelan President Hugo Chávez, accepted millions of dollars in bribes from Raúl Gorrín, the president of Globovision, a Venezuelan pro-government television channel, to allow him and others to make foreign-currency transactions at favorable rates. An indictment of Mr. Gorrín on charges of money laundering and bribery was unsealed Monday in Miami.

Obama kicking it with Chavez. Maduro looks on.