I have been wondering if this is what they call "nationalizing"? If it is, where are all of the critics that critisized Hugo Chaves' nationalizing of the oil companies of Venezuela. It seems to me that Mr. Chaves did the opposite of what happened here, he nationalized a business that was doing well. Do the people of Venezuela get some sort of dividend from the oil industry or do the profits get funneled into preexisting social programs? Does anybody have any information regarding Mr. Chaves' response to what has transpired with Fannie and Freddie?
I have been wondering if this is what they call "nationalizing"? If it is, where are all of the critics that critisized Hugo Chaves' nationalizing of the oil companies of Venezuela. It seems to me that Mr. Chaves did the opposite of what happened here, he nationalized a business that was doing well. Do the people of Venezuela get some sort of dividend from the oil industry or do the profits get funneled into preexisting social programs? Does anybody have any information regarding Mr. Chaves' response to what has transpired with Fannie and Freddie?