Gimme shelter, says Cristina in Argentina

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Gimme shelter, says Cristina in Argentina

The Rolling Stones famously sang,

Oh, a storm is threat’ning
My very life today
If I don’t get some shel­ter
Oh yeah, I’m gonna fade away.

Over in Argentina, for­mer pres­i­dent Cristina Fer­nán­dez de Kirch­ner, who came to power when her hus­band Nés­tor Kirch­ner died sud­denly of a heart con­di­tion, sees a storm is threat’ning: She has been charged with money laun­der­ing for the fourth time.

Fer­nan­dez already faces trial in a sep­a­rate case for alleged finan­cial mis­man­age­ment in office and pend­ing charges for allegedly order­ing Argentina’s cen­tral bank to ille­gally trade deriv­a­tives, which cost the coun­try $5.5 billion.

And let’s not for­get the four­teen houses she “never declared” to the anti-​corruption or the tax authorities.

So where does a griev­ing widow seek shel­ter from the upcom­ing storm?

She runs for Sen­ate in the country’s most pop­u­lous province, of course!

It so hap­pens that, if elected, the seat (empha­sis added)

would give her con­gres­sional immu­nity from fed­eral pros­e­cu­tion for alleged money laun­der­ing and rack­e­teer­ing dur­ing her presidency.

As I was plan­ning this post this morn­ing, I was look­ing at the list of cat­e­gories under which to file it. I opted for “are you kid­ding me.” Why? Because she’s ahead in the polls.

After Argen­tini­ans elected Mauri­cio Macri pres­i­dent, for­eign investors hoped his admin­is­tra­tion would pass reforms to undo Fernandez’s chaotic eco­nomic poli­cies, inter­ven­tion­ist strate­gies and trade restric­tions. Cristina’s cam­paign does not bode well:

The peso cur­rency has lost 9 per­cent of its value since Fer­nan­dez declared her can­di­dacy on June 24. The cen­tral bank has sold more than $1 bil­lion in reserves in the past two weeks to stop the currency’s slide, includ­ing a $298.2 mil­lion inter­ven­tion on Thursday.

Argentina may, once again, slip back into its old storms.

Atten­tion: See Da Tech Guy’s pinned post!

Fausta Rodríguez Wertz writes on U. S. and Latin Amer­ica at Fausta’s blog

The Rolling Stones famously sang,

Oh, a storm is threat’ning
My very life today
If I don’t get some shelter
Oh yeah, I’m gonna fade away.

Over in Argentina, former president Cristina Fernández de Kirchner, who came to power when her husband Néstor Kirchner died suddenly of a heart condition, sees a storm is threat’ning: She has been charged with money laundering for the fourth time.

Fernandez already faces trial in a separate case for alleged financial mismanagement in office and pending charges for allegedly ordering Argentina’s central bank to illegally trade derivatives, which cost the country $5.5 billion.

And let’s not forget the fourteen houses she “never declared” to the anti-corruption or the tax authorities.

So where does a grieving widow seek shelter from the upcoming storm?

She runs for Senate in the country’s most populous province, of course!

It so happens that, if elected, the seat (emphasis added)

would give her congressional immunity from federal prosecution for alleged money laundering and racketeering during her presidency.

As I was planning this post this morning, I was looking at the list of categories under which to file it. I opted for “are you kidding me.” Why? Because she’s ahead in the polls.

After Argentinians elected Mauricio Macri president, foreign investors hoped his administration would pass reforms to undo Fernandez’s chaotic economic policies, interventionist strategies and trade restrictions. Cristina’s campaign does not bode well:

The peso currency has lost 9 percent of its value since Fernandez declared her candidacy on June 24. The central bank has sold more than $1 billion in reserves in the past two weeks to stop the currency’s slide, including a $298.2 million intervention on Thursday.

Argentina may, once again, slip back into its old storms.

Attention: See Da Tech Guy’s pinned post!

Fausta Rodríguez Wertz writes on U. S. and Latin America at Fausta’s blog