Venezuela moves to seize U.S.-owned telecom

Originally published at Twixel.net. You can comment here or there.

http://www.marketwatch.com/news/story/venezuela-moves-seize-us-owned-telecom/story.aspx?guid=%7B622436F5-1A6C-4FAF-9F77-B755FF793437%7D

Chavez orders takeover of Verizon property without prior (or proper) compensation

SAN FRANCISCO (MarketWatch) - Venezuelan President Hugo Chavez moved Sunday to take over Compania Anonima Nacional Telefonos de Venezuela, known as CANTV, without first compensating its U.S. owner, Verizon Communications Inc., and said the government won’t pay market price for the telecom, according to media reports.

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OK - This guys is officially a menace now.  Crossing the line from jack-ass annoyance. 

Rule by decree passed for Chavez

Originally published at Twixel.net. You can comment here or there.

Venezuela’s National Assembly has given initial approval to a bill granting the president the power to bypass congress and rule by decree for 18 months. President Hugo Chavez says he wants “revolutionary laws” to enact sweeping political, economic and social changes.

He has said he wants to nationalise key sectors of the economy and scrap limits on the terms a president can serve.

Mr Chavez began his third term in office last week after a landslide election victory in December.

The bill allowing him to enact laws by decree is expected to win final approval easily in the assembly on its second reading on Tuesday.

Venezuela’s political opposition has no representation in the National Assembly since it boycotted elections in 2005.

http://news.bbc.co.uk/2/hi/americas/6277379.stm

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Scary guy.  Venezuela has had their last “free” election for a good while to come.  It never ceases to amaze me what complete morons humans can be.