Many have conjectured that the recent financial didaster in the US is due to corporate sociopaths. I do not know enough about economics to agree or disagree with that. But consider a society where drug cartels run by sociopaths have a strangle hold over the government. That appears to be the case in Colombia. To watch an amazing video of tens of thousands of people posted by the UK Guardian click on this text.
The company, DRFE was apparently a money laundering front for a drug cartel. According to the Associated Press “A total of 600 million pesos ($270 million) is believed to have been lost by the investment company “Dinero Rapido Facil Efectivo,” or “Easy Money Fast Cash” in English.” It is estimated that 2 Million people lost money.
As a result of the riots 2 people are dead.
The company president Carlos Alfredo Suarez was only 28 years old. Overnight he went from owning a small parking lot to being president of DRFE. “The financial company collapsed on Wednesday as rumors spread that (Suarez) fled the country and investors took to the streets. Police confiscated some 57 billion pesos ($26 million) but said most of the money was gone and that Suarez’s whereabouts are unknown.”
“Authorities had a hard time explaining why they hadn’t intervened earlier with at least 240 offices offering absurdly favorable returns. But Banking Superintendent Cesar Prado resigned Friday night, and the government replaced him with the Finance Ministry’s head of financial regulation. Presidential press secretary Cesar Mauricio Velazquez gave no further details.”