http://www.andes.info.ec/es/actualidad/7774.html
2012 - ECUADOR
Between Guillermo Lasso and his brother-in-law Danilo Carrera contributed to the campaign of Jamil Mahuad 1,027 million sucres
Wednesday, 17/10/2012 - 04:28:49 PM
Guillermo Lasso Mendoza and his brother-in-law Danilo Carrera Drouet.
Quito, October 18 (Andes) .- Jamil Mahuad Witt, (elected president of Ecuador for the period 1998-2002 and ousted in January 2000), narrowly won the election. Álvaro Noboa, defeated candidate, requested a recount of votes that the electoral court denied.
During the campaign he had the support of powerful financiers such as Fernando Aspiazu Seminar, Banco del Progreso; Danilo Carrera Drouet and Guillermo Lasso Mendoza, Bank of Guayaquil; Ernesto Noboa Bejarano; Ernesto Estrada (Hijastro of Luis Noboa Naranjo and, at that time son-in-law of Leon Febres Cordero); Fuad Dassum; National soap; Soft drinks; Osvaldo Zavala Egas; Jhonny Czarnwinsky, My Commissariat; The Universal.
Also Mariano González Portés, Ingenio San Carlos; Oscar Orrantia; According to Wong, Reybanpac / Fertisa; Plywood; Pronaca; Coca Cola Guayaquil; Fidel Egas Group (Banco del Pichincha / Diners); Olga de Eljuri and Roque Sevilla, among others. And although Ramon Yulee, signed as campaign treasurer, Eduardo Mahuad Witt, brother of Jamil was the fundraiser.
It is curious that only between Danilo Carrera Drouet (Emperor of the Ecuadorian Olympic Committee, Chairman of the Board of Directors of Grupo Financiero Guayaquil, Manager of the Central Bank, head of the Ministry of Industries during the last military dictatorship, and President of the Monetary Board Fabián Alarcón) and Guillermo Lasso Mendoza, current candidate for the Presidency of the Republic, the two leaders of the Bank of Guayaquil at that time, added 1,027 million sucres as a contribution to that election campaign.
Fernando Aspiazu Seminary was the largest contributor with three million one hundred thousand dollars. And it was so evident that the now ex-banker and Mahuad were fined by the Supreme Electoral Tribunal (TSE) for having contributed illegally.
Still, nothing could stop him and, with such support, he broke a dozen banks and similar numbers of financial institutions. Mahuad issued a bailout law that allocated state resources to address the problems of the broken private banks that financed his election campaign. This crisis caused, among other things, the emigration of compatriots to Spain and Italy.
In November 1998, Filanbanco, the parent company of the country's fifth largest financial group, presented liquidity and solvency problems, prompting a bail-out by the government of Loan, Tungurahua and Finagro banks.
After the fall of Filanbanco and other small banks, the bank of El Progreso, considered the second bank of the country by the size of its assets, and one of the most profitable institutions.
To prevent the entire financial system from collapsing, the government opted to freeze deposits. The result was a situation of insolvency in most of the financial system and distrust in the sucre.
Jamil Mahuad led the country to one of the worst economic crises of all time. Excessive printing of bills to meet state obligations triggered the dollar's trading at levels never before seen, at which point it adopted the US dollar instead of sucre, with a change from 4,500 to 25,000 sucres.
Meanwhile the "descendants of the statue", as Asaad Bucaram called them, the owners of the private media, continued talking about honesty to give false moral lessons.
Jorge Núñez, in the book "Banks and Bankers". From Urbina Jado to Aspiazu, Editorial El Conejo, 1999, said that "Throughout the twentieth century, private banking scandals have shaken the consciousness of successive generations of Ecuadorians."
"In the 1920s, the economic and political disruptions of the bancocracy, associated with a voracious and insatiable state, unleashed severe inflation, created the scene for the massacre of workers of November 15, 1922, corrupted the political system and aggravated Effects of the export crisis ".
"In the second half of the century ... the scandals of La Previsora and the Bank of Guayaquil broke out in the 60s, which were solved in the same way: covering the black holes of the corrupt bank, while Rodrigo Icaza Candell and other fugitives The good life abroad or set up new companies ... "
"Years later came the fall of the Discount Bank, also caused by poor management, denounced by a sector of the same shareholders."
"... The bankruptcy of Banco Continental, whose beneficiaries were the Ortega Moreira brothers, and whose" bail-out "hurriedly attended the then President of the Monetary Board, Ana Lucía Armijos, violated the law and gave the bank owners an enormous amount of resources State, never justified ... "
But they now live Christian in Miami from the benefits provided by a bank and various real estate companies. For them there was never an extradition request and some of the brothers get angry when they are told thieves.
"Most financial institutions ended the first five years of the 1980s by owing to the Central Bank amounts greater than their equity value. By 1984, the emergency debt of the Ecuadorian banking system, with the issuing institute, exceeded 60,000 million sucres, while the capital and reserves of the banking system did not exceed 50,000 million sucres.
During the 1980s, Ecuador experienced a process of structural adjustment ordered by the multilateral credit agencies (World Bank, IMF) to pay off the external debt. The social conflicts created an atmosphere of political instability that extended until the 90s and only in the first decade of the 21st century could be stopped the voracity of the bankers.
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