Take physic, pomp

Chart of the day is….

….the amount of money the gov’t of Peru just handed over to Doe Run Peru (DRP) to avoid closing the plant compared to the amount of money DRP still needs to spend on its much delayed environmental cleanup program that has October 31st, 2009 as its completion deadline.

There has been much talk in Peru about whether or not DRP should be given a bailout by its host government, however yesterday’s decision was predicted as inevitable nearly two weeks ago by IKN. DRP’s owner, Ira Rennert, knew from the start that the continuance of DRP is more important to Peru than to him. He’s made his money, screwed the environment and vacuumed his company clean; why on earth should he actually be responsible and leave working capital inside the company for some idiocy such as “helping people” or “being responsible”? That’s just silly Socialist talk!

It is frankly incredible that DRP as an asset isn’t expropriated from this uncaring and unfeeling crook. Knowing the totally corrupt core of the García government, you have to wonder just how muh money has changed hands in unmarked envelopes over DRP.

An excellent and roundup of the DRP story in the last few days can be found right here at the evergood Huanca York Times.

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