Creative Destruction

Actually, I’ve got a better suggestion: Venezuela.

On Friday last week, Hugo Chávez, the Socialist president of Venezuela, gave a speech in Caracas where, according to Reuters, he said, “The United States has spent $900 billion, four times what the Venezuela produces in a year, to try to boost the troubled finance system and housing market.”

Gloating, he added: “They have criticized me, especially in the United States, for nationalizing a great company, CANTV, that didn’t even cost $1.5 billion.”

The Mother of All Power Grabs – Mergers, Acquisitions, Venture Capital, Hedge Funds — DealBook – New York Times.