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The Big Payola | Globo and Banco Rural

globoxrecord

Source: DoLaDoDeLá

We all know that at the beginning of  the 2000s, Globo Participações was on the brink of  collapse. It had tried to get the federal government to back a financial recuperation plan along the same lines as Proer, a program created by the Cardoso government to rescue banks from what used to be called “contagion” or “systemic risk.”

The proverbial “too big to fail.”

In 2004, an investment fund demanded that Globo file bankruptcy in the United States. It was then that the debt restructuring became an urgent matter. At around the time, the Marinho brothers sold off their shares in a number of repeaters and affiliates.

A supervisor of mine at the time, in an effort to convince me that the bosses were committed to jobs and salaries, said that “the poor guys” had had to give up the family helicopter — as if they had a choice between making this sacrifice or doing away with their human resources. Tell me another one …

It was at this moment that Globo came into contact with Banco Rural. The financial institution granted  Globo Comunicações e Participações the exact same type of loan it had granted the Workers’ Party (PT). The difference was that the PT case, thanks to the federal prosecutor, eventually became Penal Action 470, nicknamed a priori by the Folha de S. Paulo as “the big monthly payola,”  based on an interview with congressman Roberto Jefferson.

A priori because Jefferson later recanted his tale of monthly — mensal — payoffs to lawmakers.

Oddly, only the transactions between Banco Rural and the  PT were considered  “fraudulent management practices.” Globo’s deal with  Rural, and the  roles played by Daniel Dantas and Marcos Valério — the men behind the DNA ad agency — received not a single mention in the press coverage of the case.

When Globo was not named in Penal Action 470, we expected that the prosecutor-general at the time, Antônio Fernando, would  try the cases separately, with a separate investigation of the dealings of Globo with Banco Rural and other parties. This never came to pass.

The expectation now is that the opening of an investigation by the Federal Public Ministry (MPF) in Brasilia will shine some light on details of Globo’s accounts with Banco Rural, with its ramifications, transactions and loans.

Do you think we will ever see the day? In the event we are unable to trust in the democratic institutions, I suggest we Internauts pore over the available data — the financial recovery plan,  Penal Action 470, and  the “loans” provided by  Banco Rural.

A small group of bloggers — “the dirty bloggers,” though many are seasoned professionals who have taken younger colleagues and amateurs under their wings  — have been doing just that, testing the limits of public access to information.

More power to them.

Helena Sthephanowitz:

In 2006, when Souza presented Supreme Court justice  Joaquim Barbosa with the so-called mensalão (Penal Action 470),  page 90 described a Banco Central audit of Banco Central that identified crimes against the financial system , involving transactions considered fraudulent. Among those named were  Globo Comunicações e Participações, a Globopar, the holding company of TV Globo.

It so happens that in 2004  Globopar was unable to honor its debts, and the investment fund W.R. Huff sought to declare it bankrupt in the United States. A debt restructuring was required.

However, pages 2.869 and 2.870 of the verdict in Penal Action 470 states that the exact same  type of loan received by the PT from Banco Rural was received by Globo C&P …

… Seven years later, however, the Globopar case remains shrouded in mystery, and not a single word about it is to be found on the site of the MPF.

The situation is even more worrisome given the recent “disappearance” of documents in a R$ 615 million tax evasion case in which money was laundered by Globopar in fiscal paradises in order to acquire broadcast rights  to World Cup 2002

Globo is worried about the fact that its name appears in the mensalão case file, with indications that will call for an intensive investigation to come. It is also concerned over public response to the fact that it has just hired Felipe Barbosa, son of the Supreme Court rapporteur in the case, to work here.

Another company apparently tangled up in the case is  Grupo Tom Brasil, which employed the same son of Joaquim Barbosa as a public relations man and which received R$ 2.5 million in funds which Supreme Court ministers have determined were embezzled from Visanet through the ad agency of Marcos Valério.

And in the antiquated mainstream media … this page 90 in the report on AP 470 sleeps  in media limbo down to the present day. One more shameful instance of the collectivism of the media barons, as was the sparing of Veja magazine in the matter of the CPI of Cachoeira.