CITGO to be seized by the feds on foreclosure-like deal.

[GRULSTMRNN]

So, I am surprised why anyone is shocked about this ruling? Those who are connected in America make the laws and pocket numerous judges. Since when has this been a secret? The mere fact that Americans actually buy Venezuelan oil is preposterous. But again, when has the US government ever acted differently, saying one thing but doing another? Either you oppose a regime and then follow through on all fronts or you do not. This is the exact same thing than the flip flopping of American covert support in former Persia, Afghanistan, Columbia, Panama, and, and and,.... why surprised?

The legal background seems a bit sketchy but here's the run down:

Canadian hedge fund buys gold mine in Venezuela
Venezuela seizes/nationalizes gold mine because "mah socialism"
Canadian hedge fund sues CITGO somehow pulling the hat trick that CITGO=Venezuelan government because they own PDVSA which franchises CITGO.
Canadian hedge fund about to go bust
NY hedge fund picks up the tab and effectively buys lawsuit
CITGO either to be auctioned off or rebranded by hedge fund suing


My beef:
How does a Canadian hedge fund have standing to sue over an international affair on another country's company holdings in the 1st place?

How is what a government does somehow translate into punishing/seizing a company....I suppose nationalizing companies opens you to this liability, but seems like a long shot that may have paid off only due to politics.

 

[piezoe]

Just as planned... should be a "socialist lesson" for all... that is, "everything inures to the benefit of the government/elites while everybody else waits in line for toilet paper."

I am wondering, how does that differ from the capitalist lesson, where everything inures to the benefit of the government/ elites (top 10%) and 42 million are on food stamps? Could it be that what you are observing has very little to do with the form of government but something else?

N.B.: Scat can be forgiven for not responding. He won't see my post. He has me on ignore.