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Banco Santander in Brazil: Deep foda

A few weeks ago Banco Santander royally pissed off the Dilma Rousseff government by sending a note out to high-level clients that stated the dollar could rise and macroeconomic indicators drop if it looked like Dilma was winning this year’s election contest (in her case re-election). At the time the time called for heads to roll at the bank and all sorts of lovely. This morning Folha de S. Paulo reveals a bizarre twist to the tale; the Santander analyst who published the note lifted the whole thing from an analysis previously published by Banco Fador in Brazil. So it turns out the note was an obvious case of plagiarism and yes, dismissals have been made and red-faced apologies emitted by Santander.
By the way, in the most recent poll out today (the reliabvle Ibope) Dilma’s on 38%, nearest rival 23%. No sign of economic collapse, though.

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