Nest x Serpent (Economist)

The article “Brazil’s development bank: Nest egg or serpent’s egg?“, on The Economist (5/8/2010), analyses BNDES, the Brazilian Development Bank, in the context of the eminent presidential elections.The article examines different opinions on the bank, and the source of the critics complaints. They conclude: “Ideally, commercial banks need to get into the business of long-term leding to companies. But so long as Petrobras, Vale (a mining giant) anda JBS get subsidised credit from BNDES, why sould they? Some of the criticism of BNDES is no doubt questionable. But the bank is growing too fast. And it needs greater transparency and much more competition.” http://migre.me/12Lz7