posted on January 8, 2007 04:07:39 PM
I had a disagreement in this forum once with someone [I believe I remember who it was] saying that Chavez was not a communist and that he was freely elected in a democracy. LOL LOL LOL
Well....from what I learned in school....this was what communists did....slowly had the government OWN everything. No private utitity of anything...etc.
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Chavez: Will Nationalize Telecoms, Power
Jan 08 3:35 PM US/Eastern
By IAN JAMES
Associated Press Writer
CARACAS, Venezuela (AP) -- Venezuelan President Hugo Chavez announced plans Monday to nationalize the country's electrical and telecommunications companies, calling them "strategic sectors" that should be in the hands of the nation.
The New York Stock Exchange immediately halted trading in CANTV, Venezuela's largest publicly traded company, which was singled out in Chavez' speech.
The decision was also likely to affect Electricidad de Caracas, owned by AES Corp.
It was the boldest move by the Venezuelan leader since he was re- elected by a wide margin last month promising to a more radical turn toward socialism in Venezuela.
"All of those sectors that in an area so important and strategic for all of us as is electricity _ all of that which was privatized, let it be nationalized, Chavez said in a televised speech after swearing in a new Cabinet.
"C.A. Nacional Telefonos de Venezuela (CANTV), let it be nationalized," Chavez said. "The nation should recover its property of strategic sectors."
Chavez threatened last August to nationalize CANTV, a Caracas-based former state firm that was privatized in 1991, unless it adjusted its pension payments to current minimum wage levels, which have been repeatedly increased by his government.
"While the democratic party complains about everything THIS President does to protect our Nation": "What would a Democrat president have done at that point?"
"Apparently, the answer is: Sit back and wait for the next terrorist attack."
