A 'Grotesque' Failure: Fraga's Verdict as the Banco Master Case Widens
4 Articles
4 Articles
A 'Grotesque' Failure: Fraga's Verdict as the Banco Master Case Widens
Former central bank chief Armínio Fraga called the Banco Master case a 'grotesque failure' of enforcement, as police searched a Maceió pension fund over R$97 million in investments. The post A ‘Grotesque’ Failure: Fraga’s Verdict as the Banco Master Case Widens appeared first on The Rio Times.
The former president of the Central Bank Arminio Fraga said, on Tuesday (11), that the case involving the Master Bank did not arise from a failure in the design of banking regulation, but in its application. .It was a failure of the application of a regulation that, by itself, is difficult. But it was a failure, I would say, even grotesque , said the economist, during the round table on market regulation promoted by the Center for Enterprise-Sch…
Recording shows judge suggesting sale of Banco Santos to the Master and indicating lawyers to the heirs of the institution
Judge Paulo Furtado de Oliveira Filho, of the 2nd Court of Bankruptcy of São Paulo, encouraged the children of former banker Edemar Cid Ferreira to negotiate with the Master Bank the participations that included the estate of the former controller of Banco Santos. During the conversation, revealed by the newspaper O Estado de S. Paulo, the magistrate also criticized the family lawyers, suggested other professionals and spoke about the possibilit…
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