April 18, 2008

Red goes the neighborhood

Katy says: Victor Vargas, remember him? BOD President, father-in-law to royalty, polo-playing socialist, poster boy for the Revolution of the Rich and the Well-connected?

Well, turns out Mr. Vargas landed a sweet deal on a modest Palm Beach home. The sticker price? $70 million, according to the Wall Street Journal. Ah, your nota estructurada bolívars at work! According to this other article, it is not Mr. Vargs' first home in Palm Beach. The article also notes that Vargas' business interests "range from banking to oil holdings, and he oversees 6,500 employees in several countries."

Which begs the question: oil holdings?

(thanks to Lucía for the heads-up).