The Volokh Conspiracy - Hugo Chavez Endorses the Bailout:

Hugo Chavez sends President Bush congratulations on the bailout plan:

The U.S.'s chief antagonist in the region, self-declared revolutionary socialist President Hugo Chavez of Venezuela, said his oil-based economy is insulated from the U.S. crisis by its growing detachment from ``this perverse financial system.''

He mocked Bush for using government funds to bail out private companies. The Bush administration is seeking congressional authority to buy as much as $700 billion in bad investments from financial firms to unfreeze the U.S. financial system.

``I nationalize strategic companies and get criticized, but when Bush does it, it's OK,'' Chavez said on weekly television program Sept. 21. ``Bush is turning socialist. How are you, comrade Bush?''

	[Todd Zywicki, September 24, 2008 at 3:04pm] Trackbacks Hugo Chavez Endorses the Bailout: Hugo Chavez sends President Bush congratulations on the bailout plan: The U.S.'s chief antagonist in the region, self-declared revolutionary socialist President Hugo Chavez of Venezuela, said his oil-based economy is insulated from the U.S. crisis by its growing detachment from ``this perverse financial system.'' He mocked Bush for using government funds to bail out private companies. The Bush administration is seeking congressional authority to buy as much as $700 billion in bad investments from financial firms to unfreeze the U.S. financial system. ``I nationalize strategic companies and get criticized, but when Bush does it, it's OK,'' Chavez said on weekly television program Sept. 21. ``Bush is turning socialist. How are you, comrade Bush?''