Our pal Setty has a thoroughly researched, hugely important story on a little footnote in the PDVSA financials. It turns out that, long ago, PDVSA seized some ships from one of its partners, and yadda yadda yadda, Venezuelans lost $644 million.
In minute detail, Setty goes through the job of untangling this particular ball of yarn. The bottom line is that reckless government decisions to sieze private property resulted in huge losses for Venezuelan taxpayers. Rafael Ramírez should be fired for malpractice such as this, but as it happens, he just accumulates more power by the day. Such is chavista Venezuela.
This story deserves more coverage, so go and read it now.