Arrest of former Brazilian president Temer adds to uncertainty

Brazil is going through some upheaval right now as it comes to terms with past crony capitalism. Sadly much of South America it seems must come to terms, regularly, with deeply seeded crony capitalism.

(From CNBC)

Temer was arrested in Sao Paulo on Thursday, with prosecutors alleging he was the head of a “criminal organization” that took more than $470 million in bribes or kickbacks…

… However, his arrest comes as current President Jair Bolsonaro tries to push forward major changes to the country’s pension system, which investors largely bet will happen.

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