8 arrested in Venezuela housing probe

[Judi Lynn]

The Associated Press November 20, 2010, 10:27PM ET
8 arrested in Venezuela housing probe

CARACAS, Venezuela

Venezuela's attorney general says at least eight people have been arrested and dozens more are being investigated on fraud accusations in residential construction projects.

Attorney General Luisa Ortega said authorities have also barred 43 people from leaving the country while the investigation proceeds. She told state television Saturday that authorities have seized 28 bank accounts of construction and real estate companies accused of wrongdoing.

President Hugo Chavez ordered the expropriation of six residential complexes on Oct. 31, citing complaints from buyers that they have been illegally charged inflation adjustments on unfinished apartments. Business leaders have condemned the seizures as a violation of private property rights.

http://www.businessweek.com/ap/financialnews/D9JK938O0.htm

[CJvR]

1. No no no!

You can't order inflation to go away.

Sounds like a good way to kill off all non-govermental construction.

[Peace Patriot]

2. No, it's DEflation that you can't order away. It's the rightwing/'austerity' gift that keeps on

giving--to the rich, that is.

[CJvR]

3. So...

You think it is possible to order inflation away without solving the economic problems causing it?

I have never heard of it working that way. You think inflation is the poor man's friend?