This headline in Listin Diario, the PPH mouthpiece, is the subject of all the morning TV and radio shows and the talk of the streets. Nothing else take precedence.
All the talk shows and commentators today are trying to explain the situation as being a simple case of sensationalism by Listin Diario while at the same time explaining that this was a way by the banks involved to capture hard to come dollars thru credit card customers who have to pay their dollar accounts. The Banks offer to sell dollars at $28 to $1 for an amount totalling the minimum payment for this month*s dollar account(credit card). The real exchange rate is still about $36 to $1 and has not and will not change today.
But the real truth is that this is a campaign strategy by the PPH to capture headlines and continue to buy time with a "lie a day
makes Leonel go away".
For those who dont know, there was a meeting last week between the top brass of the reputed largest bank in DR and Hippo. This meeting was nothing more than a political meeting with little to do about the economy. The Chairman of the Board and the President of this bank are nothing more than a PPH front. This same group spent a fortune trying to bring Pa?a Gomez into power without success, but succeeded with Hippo. And now, this bank carries the banner of the PPH to reelect Hippo. Watch how these two banks will be buying large number of tickets for the Pan Am Games to help Hippo get thru this mess.
The other bank, a state bank is headed by PPH people. and follows orders from Delgado Avenue.
It turns out that financially, this is a losing strategy by the banks. The banks are losing money on this deal. Just imagine selling dollars at $28 to credit card customers, to pay a debt to US banks with dollars worth $38 to $1. This is a net loss of $10 pesos for every dollar. But politically it becomes as good as a free ad for the PPH and perhaps an ad showing "the goodwill of these banks for their customers".
There is no such good will. This smells political all the way. Notice how the big lie has been exclusive of the newspapers controlled by Hippo and his gang and only banks who are PRD connected are participating in this losing strategy, which in the long run, it will backfire.
Of course, the big shot in one of these banks has a lot to thank the PRD. His rise to fame and fortune came with his political connections. From a lowly bank manager in a ghetto area of the South Bronx, where he had little or no future, he jumped to DR, where the ticket to success is "lambonismo". I remember clearly his days in that 138th. Street branch in the South Bronx, an area known as Fort Apache, and very near La Marqueta, the chopo-est area of NYC. Compared that to today and you can see the picture.
This case reminds me of my old friend from Baninter, who as member of the selected top brass, also was recognized as one of DRs best historians. He has even written history books about DR!!! Yet this man never graduated from any college here or in the USA and used to be street bum who used to ask me for $5 dollars in the corners of Washington Heights, when this sector was dominated by Jewish people. But he is the biggest lambon I have ever seen.
So look no further and dont wait for radio and TV shows to gicve you the real reason for this big lie. You read it here first.
TW
All the talk shows and commentators today are trying to explain the situation as being a simple case of sensationalism by Listin Diario while at the same time explaining that this was a way by the banks involved to capture hard to come dollars thru credit card customers who have to pay their dollar accounts. The Banks offer to sell dollars at $28 to $1 for an amount totalling the minimum payment for this month*s dollar account(credit card). The real exchange rate is still about $36 to $1 and has not and will not change today.
But the real truth is that this is a campaign strategy by the PPH to capture headlines and continue to buy time with a "lie a day
makes Leonel go away".
For those who dont know, there was a meeting last week between the top brass of the reputed largest bank in DR and Hippo. This meeting was nothing more than a political meeting with little to do about the economy. The Chairman of the Board and the President of this bank are nothing more than a PPH front. This same group spent a fortune trying to bring Pa?a Gomez into power without success, but succeeded with Hippo. And now, this bank carries the banner of the PPH to reelect Hippo. Watch how these two banks will be buying large number of tickets for the Pan Am Games to help Hippo get thru this mess.
The other bank, a state bank is headed by PPH people. and follows orders from Delgado Avenue.
It turns out that financially, this is a losing strategy by the banks. The banks are losing money on this deal. Just imagine selling dollars at $28 to credit card customers, to pay a debt to US banks with dollars worth $38 to $1. This is a net loss of $10 pesos for every dollar. But politically it becomes as good as a free ad for the PPH and perhaps an ad showing "the goodwill of these banks for their customers".
There is no such good will. This smells political all the way. Notice how the big lie has been exclusive of the newspapers controlled by Hippo and his gang and only banks who are PRD connected are participating in this losing strategy, which in the long run, it will backfire.
Of course, the big shot in one of these banks has a lot to thank the PRD. His rise to fame and fortune came with his political connections. From a lowly bank manager in a ghetto area of the South Bronx, where he had little or no future, he jumped to DR, where the ticket to success is "lambonismo". I remember clearly his days in that 138th. Street branch in the South Bronx, an area known as Fort Apache, and very near La Marqueta, the chopo-est area of NYC. Compared that to today and you can see the picture.
This case reminds me of my old friend from Baninter, who as member of the selected top brass, also was recognized as one of DRs best historians. He has even written history books about DR!!! Yet this man never graduated from any college here or in the USA and used to be street bum who used to ask me for $5 dollars in the corners of Washington Heights, when this sector was dominated by Jewish people. But he is the biggest lambon I have ever seen.
So look no further and dont wait for radio and TV shows to gicve you the real reason for this big lie. You read it here first.
TW
:bandit: