Come to think of it, he looked kinda Brazilian once............1) Bennyboy&Co. offer U$30Bn in facilities to Brazil (along with S.Korea, Singapore and Mexico, of course).
2) Banks rebound.
3) Today's news is that Aracruz Celulosa, world-class heavyweight in the paper/pulp business, has reached agreement to unwind 97% of its derivatives losses with local banks (undisclosed names). The amount in play is a very hefty U$2.13Bn.
4) Aracuz stock is up 9% in early Brazil trading on this news and leads the Bovespa right now.
2) Banks rebound.
3) Today's news is that Aracruz Celulosa, world-class heavyweight in the paper/pulp business, has reached agreement to unwind 97% of its derivatives losses with local banks (undisclosed names). The amount in play is a very hefty U$2.13Bn.
4) Aracuz stock is up 9% in early Brazil trading on this news and leads the Bovespa right now.
The moral of the story is; offer free money to Brazilians and they know what to do with it. This is how it's supposed to work everywhere, I think. The hoarding techniques used up North so far have meant this kind of freeing-up deal hasn't happened so far in the US markets.