La Romana, Dominican Republic. - President Leonel Fernandez denounced that a deep crisis of ethical values and a “putrid” economic system, mainly of the United States, are the causes of the serious problems affecting almost all of the world’s economies. “This crisis of values is seen in the speculation of markets, and the lack of regulation and supervision, among others anti-ethical causes.”
Fernandez, after presenting the conclusions of the two-day minisummit “The emergent global financial order: a regional perspective” held in the Casa de Campo resort complex, affirmed that several auditing companies and risk evaluation firms were accomplices in the fraud and manipulation. “That situation should’ve never happened and we’ll necessarily have a high cost that will produce more poor people, more unemployed and more people disoriented and suffering in the entire planet.”
He said the avaricious and greedy who manage large capitals on paper took the world to the crisis that brings about “rage and impotence” and that to reach a suitable balance for our societies function well requires the visible hand of the State in coordination with the markets’ invisible hand.
The summit’s conclusions will be gathered in the Declaration of Santo Domingo and presented in December, in the meeting in Salvador de Bahia, Brazil and then in the Assembly of the United Nations.
From: United States
my sides are about to burst from an uncontrollable fit of laughter and mirth. Leonel is delivering a homily and scolding about "putrid economic systems", "crisis of values", "anti-ethical causes" and the "avaricious and greedy", with specific reference to the USA. he might want to remove his focus from the USA and look at matters closer to home, or, rather, at home. maybe he could stop blaming the exogenous factors which cause the local economy to suffer. he should look at the issues of cronyism, corruption, botellas, incompetent and useless civil servants, and earth-shattering errors of judgement over which he has presided. it is always easy to blame the other guys. maybe, just maybe, if the treasure of the country had been judiciously allocated, the impending crisis would not be so daunting.
Written by: generoso, 24 Nov 2008 8:23 AM
From: United States, Santo Domingo, D.R.
Mirror, mirror on the wall, who is fairest one of all......
LF has a pet peeve against capital managers and financial analysts, what about the regulators that fell asleep at the wheel? and the legislators that did not want to pass more regulatory legislation?
Like in a divorce both sides are at fault, accepting responsibility is part of the healing process not blaming others.
Even in the corruption and bribe process there are those who taketh and those that offer, both with equal blame, equally guilty and with equally responsible.
Accepting blame and finding solutions as well as legislating permanent fixes is the prescription to
healing and the solution out of the financial crisis.
Question: What I am doing as president of all Dominicans to generate more income to the masses and to alleviate the suffering being caused by this crisis?
Reducing ITBS to 10%?
Temporarily removing half of the tax of gasoline and other fuels?
Reducing the inflated government payroll?
From: United States
LF. Clean up your own transparently corrupt and amoral house before throwing stones.
From: United States
come on now, gmiller. you know how he operates; always blame the failure on the other guy.
From: United States, Washington, D.C.
Well, as I've always said, if you focus too much on external factors, you're trying to hide something @ home. scapegoat-ism is a popular tool to divert attention from some internal analysis - poverty and inequality are increasing, blame the "Putrid Financial System in the US." Distractions which may or may not be real. The one thing is true is that many of these scapegoats are blown out of proportion.
However, in this case, I do not think it's an exaggeration. This financial crisis is BIG, and just listening to some of my colleagues who are on the inside of some of these banks, shipping firms, and even AVON, the crisis may have started in the US, it may be the US's fault, but we're all in-it now. Best thing to do is understand where this came from and try to move forward. Blaming the US and doing nothing is not an option, but rather a recipe for collapse.
DR needs new and transparent institutions. LF needs to give up his ambitions & create a true representative democracy.
Written by: BASTA, 24 Nov 2008 9:07 AM
From: Dominican Republic, SPM
LOL all the above - Double LOL
From: United States
gooooood morning, Baldoria. interestingly, i read an article yesterday which referred to the type of government here in the DR as a "bare bones democracy".
From: United States, Washington, D.C.
bare bones dem :-)
What we have in the DR is what most of LAC has - Delegative Democracy, where:
1. politicians do what they think best
2. no public consultation,
3. focus on the president b/c s/he controls the bulk of the public budget
4. no checks & balances to limit the president's power
5. reliance on indirect and external taxes (ITBIS, Airport Tax, etc)
6. OVERWHELMING focus on elections, b/c that's what gives these politicians the right to do whatever they want
7. focus on the "rights" (freedom of press, speech, etc.), but not really paying any attention to the public
This list, is not a DR specific list, I got it from Guillermo O'Donnelle's 1987, 1994, 1996 works on Delegative Democracy. Funny how well it fits the DR :-)
Written by: Juango, 24 Nov 2008 9:50 AM
From: United States, far S. Florida (formerly Santo Domingo)
Leonel you are a BONEHEAD, a well-spoken bonehead, but a bonehead none the less. You have lost total credibility amongst the foreign business community/investors and are quickly losing support of your own brown-nosing staff. Keep talking and dig youself deeper into a hole. Isn't time for you to go on another trip somewhere? That may be the best thing you can do at this stage. Do us all a favor, DONT COME BACK!
Written by: generoso, 24 Nov 2008 10:03 AM
From: United States, Santo Domingo, D.R.
Just a brief comment:
We all like a little levity to inject laughter in this sometimes very grim and sad world. But if you want your message(s) to have any sort of impact you must leave the personal insults and put downs that
dilute any impact you may have. Unless of course you are having a dialogue and are just fighting
back.
I know for a fact that many ministers, congressmen, senators and even the president himself may read our comments as a barometer to what the general populace opinions are, so try to keep your remarks at a high level so that the proper attention will be displayed to your statement and not disregarded as garbage.
Just a personal note to contribute to the exchange of ideas.
From: Dominican Republic, la Romana
talk about the pot calling the kettle black ..here is the DR where hundreds of millions of dollars are lost to corruption and where efficiency has yet to be seen ,and we have the head of this country daring to talk on the subject of ethics..of course we all know that it was a lack of ethical values that was a prime reason for the current problems but it was also the fault of the usa governemnt to permit housing loans to people who had little chance of making the repayments. but if only the DR government was a little better , there would be much more money for health and education throughout the community
From: United States, Reality Check
To US intelligence agents that monitor these & other sites:
Nothing like an ally to kick you when your down or on-the-ropes?
Not too mention the old saying "this is the pot calling the kettle black". I am not sure how Prez LF can give anyone a lecture on "ethics, values, job creation, corruption, fraud, manipulation and greed?"
Well, one the bright-side, at least Prez LF is speaking out and exercising his freedom of speech and not concerned about what anyone thinks. I at least admire that (even if whole premise is hypocritical).
Nevertheless, LF has already done more than our "WORTHLESS" ambassadors who represent our USA in our US Embassy in Santo Domingo. Why doesn't FANNIN and others have at least some backbone and speak-out aggressively against the series of RD abuses? Fannin & staff are only worried about their appearance of real work (like the DNCD) which will happen the next time a US delegation comes with Maxine. Otherwise, Fanin staffers are "W-O-R-T-H-L-E-S-
Written by: juanb, 24 Nov 2008 10:57 AM
From: Dominican Republic
Dread: You have hit the nail exactly on the head. Every point you make is right on.
We are now listening to the flea trying to direct the elephant.
And speaking about putrid, what about this term in office?
And what about the avaricious and greedy and, may I add, useless members of your administration?
From: United States
thank you for your kind words, juanb
Written by: brootto, 24 Nov 2008 11:34 AM
From: United States, South West Florida
With the internal resources of dr the economic crisis world wide would not hurt dr as much if the fundamental of dr politics and economics would no be so corrupt. now there is an excuse for the president to blame other and keep with it corruptions.
Written by: brootto, 24 Nov 2008 11:36 AM
From: United States, South West Florida
There is many countries that the world wide economic crisis has not been so hard hit. Brazil(it has a little due to the stock market
From: United States
exactly, brootto. he is like the guy who blew his monthly salary at the car wash in one sitting, and spends the next day wondering if he will be able to pay the rent on the day it is due.
Written by: generoso, 24 Nov 2008 11:41 AM
From: United States, Santo Domingo, D.R.
dread:
I am kind of fond of car wash joints, have your car washed, have a cold one, meet some pretty femmes,
BS a little....., read the papers, get your zapatos shined,
My stupid a..hole landlord CAN WAIT! LOL.
Written by: brootto, 24 Nov 2008 11:48 AM
From: United States, South West Florida
I just waiting for a good opportunity to invest in dr. Next year there would be a lot of business bargain in dr. business people are getting impatiance, me waiting.
Written by: generoso, 24 Nov 2008 11:51 AM
From: United States, Santo Domingo, D.R.
brootto:
Like a good Nigerian scammer just send me your bank account information and you should receive
an inheritance for 5 million dollars your crazy unknown aunt left you. Don't wait you must act swiftly!
Time is of essence.
Written by: brootto, 24 Nov 2008 11:54 AM
From: United States, South West Florida
we all dream my man, believe me the time would come for a good opportunity in dr, I have faith.
Written by: Jander, 24 Nov 2008 3:08 PM
From: Dominican Republic
Well his "approval rating" will be that of GWB in no time.
Some of what he says is true we/USA have been greedy pigs for too long and it has finally caught up to us. But the US made a bold statement by electing Obama.. Now let's hope he can work on mending this disaster rather then putting a band-aid on it as being done now.
As far as LF he better look in the mirror before making rediculous accusations.
Written by: jacirez 
, 24 Nov 2008 5:27 PM
From: Iran, Zähedän
"...a deep crisis of ethical values and a “putrid” economic system, mainly of the United States, are the causes of the serious problems affecting almost all of the world’s economies..."
That's like Ted Bundy criticizing Jeffy Dahmer for eating human flesh...Hilarious!!!!
From: United States, (on Sabbatical)
"the lack of regulation and supervision, among others anti-ethical causes.”
Now the pot is calling the kettle brown?
Why not give the case over to the Vatican and Cardinal Lopez Rodriguez; They will fix it; they're moral and ethical. Or, perhaps have a few masses and have San Quentin interceed on behalf of the DR; and sick the bogey man on those mean men on Wall Street.
Hypocrites, you know doggone well the Vatican is behind the Global Collapse; That's why they have their stooges all over the world "bankrupting their countries in tandem".
More Subways, more wars, more space stations, more emergency meetings at the UN.
From: United States, New York
Incredible, one of the main beneficiaries of this "putrid" system is now speaking out against it. Has anyone ever told him the only reason he's there is because the US has allowed him to stay there? I'd be watching my words if I was him.
From: United States, Washington, D.C.
Ciao DChic, something about your statement struck me as odd - LF is there b/c the US has allowed him to stay there? I'm not a fan of LF, but I'm an even lesser fan of the idea that the US dictates our politics. We are a sovereign power, and for better or worse, we pretend to be a democracy which means the politicians with the biggest budget, I mean popular appeal wins the elections.
It's far from being a truly representative democracy, but at least the US is not calling down and explicitly telling us what to do.
And lets suppose your statement is correct, do you think it's proper? do you thin the US would be looking out for its own welfare or that of the Dominican People?
Anyhow, kudos to LF for at least being able to be critical of the metropole. Despite the irony, He hasn't said anything the Europeans and other world leaders haven't said.
Written by: Lautaro, 25 Nov 2008 11:18 AM
From: Dominican Republic, Santo Domingo
baldoria said: "It's far from being a truly representative democracy, but at least the US is not calling down and explicitly telling us what to do."
That's not necessary, baldy, considering that the politicos have done quite a marvelous job in keeping the agenda set up by the marines on 1965: the maintainment of a government for the people without the people, where the local aristocracy, along with the military and the clergy, holds the monopoly of the means of production, while the populace languish in consummerism, the ones that can, and the others that can't languish in hunger, disease and despair.
From: United States, Reality Check
Hey Dreadlocks,
Why is it that in the article above 'I see Lionel BUT I hear HUGO?"
Whats going on with that? And what does it mean for the US policy in the region? Are we losing our influence as Chavez increase his?
Hey, thanks to the Fannin and his staffers for being as "ineffective" as always. This "do nothing but stay the course politics" of Bush & McLame has got to run its course soon. I hope Obama cleans house in the US Embassy there in Santo Domingo! I still have Tigueres like Choppo Pichardo a ex-con for drug trafficking selling more drugs at my doorsteps in Los Platanitos (Ensanche Caonabo) in Santiago on Calle A (just up the hill from the street) which is a key school route for kids.
I invite all DT readers to send the new Secretary of State a memo on the RD. Just do it!
From: United States
a very astute observation, JD. and , Mr Lautaro, can i borrow "government for the people, without the people"? yes, the country is still controlled by the three headed hydra; the aristocracy, the military, and the clergy (the catholic clergy, that is )
Written by: Lautaro, 25 Nov 2008 11:44 AM
From: Dominican Republic, Santo Domingo
You can borrow it anytime you wish, dreads. Actually, I took it from the german emperor Joseph II, whose summarizing what he understood of enlightened despotism of the XVIII century ended up with that remark. As almost any educated being on the DR knows, Leonel's mentor, Joaquin Balaguer, was a believer of enlightened despotism, so it's a safe bet that Leonel and the other politicos believe on that school of thought wholeheartedly.
From: United States
exactly! what we have seen from Leonel is benevolent despotism. his rule is almost imperial, with no apparent checks and balances. there seems to be no room in the local governance for contrary ideas and filibuster, and everything seems to be the result of executive decree. by the way, why are you in a place like brazil? i hear it is extremely boring, nothing to see or do, and the women are hideous and grotesque. safe trip home, old fella!
From: United States, Washington, D.C.
government for the people, without the people :-)
The other thing is the definition of "people." People = oligarchy, foreign interests, and the clergy. Everything else serves to protect those interests.
Yes, the "fear" of reprisal by the US, or other non-democratic stakeholders (i.e. the military and the Oligarchy), definitely conditions the political agenda in the DR and Central America- that's the theory of the second face of power. But despite the inertia of U.S. Hegemony, it's running on fumes and it won't be long, I hope, when we will develop other international relations where we're treated as equal partners and not "clients."
From: United States
yes, Baldoria. although the USA will retain military supremacy, it will find soon that the country is mortgaged to the hilt to sovereign wealth funds, who will have a hand in shaping even its international relationships. the current bailout of the banking system is calculate to be 7.7 TRILLION dollars when it is over. you cannot print that kind of money, you have to borrow it. secondly, we have only seen phase one of the current crisis. phase two is the coming default on COMMERCIAL real estate. we have only seen the residential market collapse. then, we are going to see the collapse of regional banks, all looking for a bailout. GM and Chrysler, even with a 25 billion dollar handout, are probably toast, also. they will ask for 25 billion, and then come back the following month for 25 more, just like Citibank. we are living in interesting times. we have to hedge our bets elsewhere, and create more appropriate international linkages for the 21st century.
Written by: Lautaro, 25 Nov 2008 2:11 PM
From: Dominican Republic, Santo Domingo
At least Obama has been honest in saying that the current crisis won't have an easy way out. Had he been a GOP or a politico from our backyard, he would have said that he has the solution in hand and boasting about ending the troubles by the following month!
Written by: generoso, 25 Nov 2008 2:13 PM
From: United States, Santo Domingo, D.R.
dread:
you are wrong about Brazilian women, real wrong. They are the most beautiful, slim, coquette,
feminine and clean women I have encountered in my world travels.
I am not fond of Rio, but other cities like Bahia, Florianopolis and Sao Paolo are notorious for their
most attractive and friendly women.
Lautaro: Balaguer was also a believer in modern mercantilism as an economic policy, that is why he had a King's control of a centralized economy where he would bestow favors as he pleased.
Leonel's mentor was Juan Bosch but Balaguer backed his previous enemy's Bosch candidate because
he would do anything to prevent a black son of Haitians to become president (Peña Gomez).
From: United States
generoso, i only said that about brazilian women because Mr Lautaro is there , and i am not. and, Mr Lautaro, the republicans would have said they will have the crisis resolved by christmas, and , furthermore, only they can do it. remember McCain saying on tv that he knows how to catch Osama Bin Ladin? well, why not tell George Bush, and let him get some credit for the GOP?
Written by: jacirez , 25 Nov 2008 3:54 PM
From: Iran, Zähedän
How among us is familiar with the philosophy of Disaster Capitalism...or Naomi Klein's The Shock Doctrine...?
Written by: generoso, 25 Nov 2008 4:23 PM
From: United States, Santo Domingo, D.R.
dread;
OK then you said that in jest about Brazilian women, OK
About Osama the bounty for his head is $50 million green ones, not bad ah?
I heard of some suspicious arabs running around in Sabana de la Mar with lots of bodyguards,
do you think this may be an advanced security detail?
Written by: Lautaro, 25 Nov 2008 5:56 PM
From: Dominican Republic, Santo Domingo
jacirez said: "...or Naomi Klein's The Shock Doctrine...?
Is that the one that talks about a country profitting with the chaos and anarchy of others?
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LF has a pet peeve against capital managers and financial analysts, what about the regulators that fell asleep at the wheel? and the legislators that did not want to pass more regulatory legislation?
Like in a divorce both sides are at fault, accepting responsibility is part of the healing process not blaming others.
Even in the corruption and bribe process there are those who taketh and those that offer, both with equal blame, equally guilty and with equally responsible.
Accepting blame and finding solutions as well as legislating permanent fixes is the prescription to
healing and the solution out of the financial crisis.
Question: What I am doing as president of all Dominicans to generate more income to the masses and to alleviate the suffering being caused by this crisis?
Reducing ITBS to 10%?
Temporarily removing half of the tax of gasoline and other fuels?
Reducing the inflated government payroll?
LF. Clean up your own transparently corrupt and amoral house before throwing stones.
However, in this case, I do not think it's an exaggeration. This financial crisis is BIG, and just listening to some of my colleagues who are on the inside of some of these banks, shipping firms, and even AVON, the crisis may have started in the US, it may be the US's fault, but we're all in-it now. Best thing to do is understand where this came from and try to move forward. Blaming the US and doing nothing is not an option, but rather a recipe for collapse.
DR needs new and transparent institutions. LF needs to give up his ambitions & create a true representative democracy.
What we have in the DR is what most of LAC has - Delegative Democracy, where:
1. politicians do what they think best
2. no public consultation,
3. focus on the president b/c s/he controls the bulk of the public budget
4. no checks & balances to limit the president's power
5. reliance on indirect and external taxes (ITBIS, Airport Tax, etc)
6. OVERWHELMING focus on elections, b/c that's what gives these politicians the right to do whatever they want
7. focus on the "rights" (freedom of press, speech, etc.), but not really paying any attention to the public
This list, is not a DR specific list, I got it from Guillermo O'Donnelle's 1987, 1994, 1996 works on Delegative Democracy. Funny how well it fits the DR :-)
We all like a little levity to inject laughter in this sometimes very grim and sad world. But if you want your message(s) to have any sort of impact you must leave the personal insults and put downs that
dilute any impact you may have. Unless of course you are having a dialogue and are just fighting
back.
I know for a fact that many ministers, congressmen, senators and even the president himself may read our comments as a barometer to what the general populace opinions are, so try to keep your remarks at a high level so that the proper attention will be displayed to your statement and not disregarded as garbage.
Just a personal note to contribute to the exchange of ideas.
Nothing like an ally to kick you when your down or on-the-ropes?
Not too mention the old saying "this is the pot calling the kettle black". I am not sure how Prez LF can give anyone a lecture on "ethics, values, job creation, corruption, fraud, manipulation and greed?"
Well, one the bright-side, at least Prez LF is speaking out and exercising his freedom of speech and not concerned about what anyone thinks. I at least admire that (even if whole premise is hypocritical).
Nevertheless, LF has already done more than our "WORTHLESS" ambassadors who represent our USA in our US Embassy in Santo Domingo. Why doesn't FANNIN and others have at least some backbone and speak-out aggressively against the series of RD abuses? Fannin & staff are only worried about their appearance of real work (like the DNCD) which will happen the next time a US delegation comes with Maxine. Otherwise, Fanin staffers are "W-O-R-T-H-L-E-S-
We are now listening to the flea trying to direct the elephant.
And speaking about putrid, what about this term in office?
And what about the avaricious and greedy and, may I add, useless members of your administration?
I am kind of fond of car wash joints, have your car washed, have a cold one, meet some pretty femmes,
BS a little....., read the papers, get your zapatos shined,
My stupid a..hole landlord CAN WAIT! LOL.
Like a good Nigerian scammer just send me your bank account information and you should receive
an inheritance for 5 million dollars your crazy unknown aunt left you. Don't wait you must act swiftly!
Time is of essence.
Some of what he says is true we/USA have been greedy pigs for too long and it has finally caught up to us. But the US made a bold statement by electing Obama.. Now let's hope he can work on mending this disaster rather then putting a band-aid on it as being done now.
As far as LF he better look in the mirror before making rediculous accusations.
That's like Ted Bundy criticizing Jeffy Dahmer for eating human flesh...Hilarious!!!!
Now the pot is calling the kettle brown?
Why not give the case over to the Vatican and Cardinal Lopez Rodriguez; They will fix it; they're moral and ethical. Or, perhaps have a few masses and have San Quentin interceed on behalf of the DR; and sick the bogey man on those mean men on Wall Street.
Hypocrites, you know doggone well the Vatican is behind the Global Collapse; That's why they have their stooges all over the world "bankrupting their countries in tandem".
More Subways, more wars, more space stations, more emergency meetings at the UN.
It's far from being a truly representative democracy, but at least the US is not calling down and explicitly telling us what to do.
And lets suppose your statement is correct, do you think it's proper? do you thin the US would be looking out for its own welfare or that of the Dominican People?
Anyhow, kudos to LF for at least being able to be critical of the metropole. Despite the irony, He hasn't said anything the Europeans and other world leaders haven't said.
That's not necessary, baldy, considering that the politicos have done quite a marvelous job in keeping the agenda set up by the marines on 1965: the maintainment of a government for the people without the people, where the local aristocracy, along with the military and the clergy, holds the monopoly of the means of production, while the populace languish in consummerism, the ones that can, and the others that can't languish in hunger, disease and despair.
Why is it that in the article above 'I see Lionel BUT I hear HUGO?"
Whats going on with that? And what does it mean for the US policy in the region? Are we losing our influence as Chavez increase his?
Hey, thanks to the Fannin and his staffers for being as "ineffective" as always. This "do nothing but stay the course politics" of Bush & McLame has got to run its course soon. I hope Obama cleans house in the US Embassy there in Santo Domingo! I still have Tigueres like Choppo Pichardo a ex-con for drug trafficking selling more drugs at my doorsteps in Los Platanitos (Ensanche Caonabo) in Santiago on Calle A (just up the hill from the street) which is a key school route for kids.
I invite all DT readers to send the new Secretary of State a memo on the RD. Just do it!
The other thing is the definition of "people." People = oligarchy, foreign interests, and the clergy. Everything else serves to protect those interests.
Yes, the "fear" of reprisal by the US, or other non-democratic stakeholders (i.e. the military and the Oligarchy), definitely conditions the political agenda in the DR and Central America- that's the theory of the second face of power. But despite the inertia of U.S. Hegemony, it's running on fumes and it won't be long, I hope, when we will develop other international relations where we're treated as equal partners and not "clients."
you are wrong about Brazilian women, real wrong. They are the most beautiful, slim, coquette,
feminine and clean women I have encountered in my world travels.
I am not fond of Rio, but other cities like Bahia, Florianopolis and Sao Paolo are notorious for their
most attractive and friendly women.
Lautaro: Balaguer was also a believer in modern mercantilism as an economic policy, that is why he had a King's control of a centralized economy where he would bestow favors as he pleased.
Leonel's mentor was Juan Bosch but Balaguer backed his previous enemy's Bosch candidate because
he would do anything to prevent a black son of Haitians to become president (Peña Gomez).
OK then you said that in jest about Brazilian women, OK
About Osama the bounty for his head is $50 million green ones, not bad ah?
I heard of some suspicious arabs running around in Sabana de la Mar with lots of bodyguards,
do you think this may be an advanced security detail?
Is that the one that talks about a country profitting with the chaos and anarchy of others?