Brazil’s President: Blue-Eyed Whites to Blame for Bank Crisis

March 27, 2009

(ChattahBox)– Brazil’s President, Luiz Inácio Lula da Silva is coming under heavy criticism this morning for statements he made yesterday, in Brasília at a joint press conference with Gordon Brown, the UK prime minister, attributing the global economic crisis to white bankers with blue eyes. Affectionately known as “Lula,” Brazil’s leader, a former shoe-shine boy and founder of the Worker’s Party, said: “This crisis was caused by the irrational behavior of white people with blue eyes, who before the crisis appeared to know everything and now demonstrate that they know nothing.”

I can buy into the last part about those running the show acted like they knew everything and now demonstrate that they know nothing, but the whole white devil thing is surprising from a world leader. Lula went on to say: “I do not know any black or indigenous bankers so I can only say [it is wrong] that this part of mankind which is victimized more than any other should pay for the crisis.”

Lula is also calling for increased regulation of banks and is against protectionism saying, “I compare protectionism to a drug, why do people use drugs? Because they are in crisis and they think the drug will help them. But its effects pass quickly.”

Gordon Brown, while looking for the nearest exit perhaps, said, “I’m not going to attribute blame to any individuals.” Brown was in Brazil as part of his effort to gin up support before next week’s G20 summit, for the world’s biggest economies to provide $100bn to boost global trade. Brown is seeking support for a global expansion of trade finance and fiscal stimulus to prop up world trade.

Brazil is seeking concessions from Brown for increased participation in decisions made by the International Monetary Fund and the Financial Stability Forum. Brazil has long been seeking a permanent seat at the table of the United Nations Security Council. It may now be Brazil’s time for such a move.

Amid the global recession, Brazil, long seen as a struggling poor country, has been a model of success in Latin America of late. According to a recent article in Time, Brazil may well be one of 34 major economies that may safely ride out the recession. Brazil’s state-run energy company, Petrobras, is set to expand operations, although at the moment its workers are striking over changes in their profit-sharing plan.

In a time of unregulated capitalism run wild, Brazil imposed financial regulations, while assisting corporations to promote job growth, and distributing some of the wealth to help Brazil’s legions of poor, rise from poverty to take their place amongst the middle class.

Although economic growth has slowed in Brazil, its stock market recently soared in response to the US Treasury Department’s toxic assets plan. In light of Brazil’s relatively healthy economy, Lula is ready to step up at the upcoming G20 Summit to flex some muscle and demand greater participation. Lula however, might want to back down from his “white people with blue eyes” hyperbole if he wants to be taken seriously on the world stage.

Economic superpowers, such as the US, UK and others, are just waking up to a new reality, a brand new world order in the making, and it isn’t pretty.

Quotes attributed to President, Luiz Inácio Lula da Silva came from Financial Times


9 Responses to “Brazil’s President: Blue-Eyed Whites to Blame for Bank Crisis”

  1. John on March 27th, 2009 3:49 pm

    An ignorant politician speaks before thinking (or perhaps he did think about his words and he really is a moron)… perhaps our people the world really are similiar.

  2. SantosDumont on March 27th, 2009 4:10 pm

    O maior problema é que os brasileiros estúpidos provávelmente acreditam no que seu presidente bobinho diz. Com eles, é sempre a culpa de outra pessoa, quase nenhuma pessoa responsável no país enteiro!

    (não tenho medo que brasileiro responderá a esse mensagem porque geralmente a pessoa tem que saber ler e escrever para deixar commentário. A menos que eles tenham um amigo Américano visitante lendo à eles)

  3. Alex on March 27th, 2009 7:33 pm

    If you seen the interview you would of known what he meant.

  4. Willian on March 28th, 2009 3:22 am

    It’s not about race but the mess created by rich people from the rich countries. It’s smart and 100% true.

  5. Kelerie on March 28th, 2009 10:19 am

    One example of why the brown-eyed socialist is wrong:

    Citibank-Robert Rubin CEO, Jewish background
    Citibank-Vikram Pandit CEO, Indian background

    I haven’t checked lately, but I doubt either one of these guys has blue eyes or is a WASP!! Has he been having drinks with Chavez?

  6. Derlei dos Santos on March 28th, 2009 4:30 pm

    SantosDumont, em primeiro lugar, você deveria aprender português.

    SantosDumont, first of all, you should learn portuguese.

    Rio de Janeiro/Brasil
    Rio de Janeiro/Brazil

  7. chelsea on March 28th, 2009 6:17 pm

    here’s the translation to santosdumont for those of us who don’t read portuguese… courtesy of google language tools. 🙂

    The biggest problem is that the Brazilians stupid probably believe what your president says silly. With them, it is always the fault of another person, almost any person in the country entirely!

    (I have no fear that Brazil will respond to that message because the person usually has to learn to read and write to leave commentaries. Unless they have an American friend visiting to read them)

  8. chelsea on March 28th, 2009 6:21 pm

    this is all rediculous! you can’t blame any one person or group for what is happening to our world. money is money, it’s like the game monopoly, we’re in a dry spell right now and we’re all just waiting until we pass “go” again.

  9. mo on March 29th, 2009 6:36 pm

    so true Brazil

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