Home | About | Donate

Ecuador’s Tax Evading Oligarchs Try to Reconquer the Nation


Ecuador’s Tax Evading Oligarchs Try to Reconquer the Nation

William K. Black

The democratic elections of President Rafael Correa in Ecuador have enraged the oligarchs, particularly the wealthiest bankers who ruled and predated on the nation for so many decades. That predation led to a massive banking crisis led by fraudulent elite bankers. Ecuadorians fled the nation in record numbers. Ecuador suffered the highest percentage of emigration in Latin America. Political crises became the norm, with a series of presidents forced to resign within months. Correa and his reform party, Al


unfortunately, the lesson for the pink revolutionaries is an old one and pretty straightforward: do not let your oligarchs off the mat to keep fighting. Get rid of them. All of them. Exile, set adrift at sea, something. But do not let them operate freely after people take power. It will end badly over time.


Always worth reading contrasting viewpoints. Here are two more.
Also worth remarking that current Pres. Rafael Correa asked for, and was denied a Constitution change to permit a 3rd term.


  2. Ecuador Isn't an Easy Win for Latin America's Right Wing

From the second article, " "It's going to be hard for either candidate to deliver growth in this environment," said the Eurasia Group's Risa Grais-Targow. "No matter who wins, the honeymoon will be short." "
"Whoever wins will have to manage a country poisoned by partisanship and hobbled by shady dealings, institutional dysfunction, and economic disarray. It doesn't take a neoliberal to know the current path is unsustainable."


Ecuador and other countries haven't discovered direct democracy yet. Its dangerous to leave our lives in the hands of politicians.


"Its a big club and you ain't in it".

George Carlin