IBOV 176,523 ▲ 0.45% IPSA 10,928 ▲ 0.16% IPC MEX 66,555 ▲ 0.88% MERVAL 3,223,744 ▼ 0.36% COLCAP 2,298.47 ▼ 0.40% BVL PERÚ 56,428.20 ▲ 1.15% USD/BRL5.08▼ 1.19% USD/MXN17.43▼ 0.55% USD/CLP926.05▼ 0.73% USD/COP3,247▼ 0.48% USD/PEN3.39▼ 0.62% USD/ARS1,470▼ 0.88% USD/UYU40.23▲ 0.99% USD/PYG6,039▲ 1.12% USD/BOB10.35▲ 6.04% USD/DOP58.25▲ 0.29% USD/CRC448.93▲ 1.31% USD/GTQ7.62▲ 2.07% USD/HNL26.73▲ 1.38% USD/NIO36.62▲ 0.63% USD/VES722.19▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD156.98▲ 0.25% USD/TTD6.75▲ 1.19% EUR/BRL5.80▼ 0.43% BRENT 85.20 ▲ 2.28% WTI 79.64 ▲ 1.92% IRON ORE 161.91 — — COPPER 6.37 ▲ 2.12% GOLD 4,059 ▲ 1.54% SILVER 59.09 ▲ 2.53% SOY 1,191 ▼ 0.96% CORN 459.50 ▲ 4.97% WHEAT 644.00 ▲ 2.71% COFFEE 327.00 ▼ 4.22% SUGAR 14.92 ▲ 1.15% ORANGE JUICE 140.90 ▼ 1.16% COTTON 81.68 ▲ 2.32% COCOA 5,936 ▲ 4.21% BEEF 231.58 ▼ 1.34% CATTLE 349.63 ▼ 1.33% LITHIUM 71.48 ▲ 1.76% PETR4 40.71 ▲ 0.12% VALE3 73.97 ▲ 1.54% ITUB4 43.42 ▼ 0.23% BBDC4 18.51 ▼ 1.39% ABEV3 15.83 — 0.00% BBAS3 20.55 ▲ 1.53% B3SA3 15.37 ▲ 1.65% WEGE3 44.37 ▼ 0.05% PRIO3 57.44 ▲ 0.42% SUZB3 41.32 ▼ 0.41% RENT3 40.41 ▲ 0.52% AZZA3 18.99 ▼ 1.20% CSAN3 3.89 ▼ 0.26% RAIZ4 0.31 ▼ 6.06% PCAR3 2.46 ▼ 5.02% GMAT3 3.99 ▲ 1.27% PSSA3 54.50 ▲ 0.85% CVCB3 1.38 ▲ 10.40% POSI3 3.99 — 0.00% SLCE3 13.75 ▼ 0.87% NATU3 8.54 ▼ 0.70% BRKM5 6.78 ▼ 2.31% RANI3 8.02 ▲ 0.88% CSNA3 5.18 ▼ 1.15% CMIN3 5.10 ▼ 6.42% USIM5 8.26 ▼ 1.43% GGBR4 23.30 ▲ 2.10% ENEV3 27.08 ▲ 0.74% CPFE3 47.23 ▲ 0.83% CMIG4 11.19 ▲ 1.08% EQTL3 41.07 ▲ 2.14% LREN3 14.28 ▲ 0.92% VIVT3 35.61 ▲ 2.53% RAIL3 14.09 ▼ 0.14% KLABIN 17.43 ▼ 0.29% RAIA DROGASIL 18.65 ▲ 2.47% RDOR3 35.97 ▲ 1.15% HAPV3 11.17 ▲ 6.79% FLRY3 16.45 ▲ 1.86% SMTO3 16.21 ▼ 0.98% UGPA3 30.03 ▼ 2.91% VBBR3 33.02 ▲ 0.79% BBSE3 40.29 ▲ 0.02% BPAC11 57.85 ▲ 0.57% CURY3 33.50 ▲ 1.15% AERI3 2.05 ▼ 1.44% VIVARA 23.43 ▲ 1.38% COMPASS 25.21 ▲ 1.78% VAMOS 3.17 ▲ 4.97% SANB11 27.32 ▼ 0.18% ASAI3 8.66 ▼ 0.57% SBSP3 30.38 ▲ 0.03% WALMEX 49.41 ▼ 0.48% GMEXICO 199.74 ▲ 2.12% FEMSA 231.99 ▲ 2.94% CEMEX 22.12 ▲ 1.56% GFNORTE 186.49 ▲ 2.43% BIMBO 56.29 ▲ 0.75% TELEVISA 9.53 ▼ 0.83% AMX 22.89 ▲ 1.33% GAP 395.80 ▼ 3.04% ASUR 276.66 ▼ 0.72% OMA 235.56 ▲ 0.96% KOF 179.99 ▼ 0.93% GRUMA 279.64 ▼ 0.61% KIMBER 38.36 ▲ 0.37% SQM-B 67,500 ▲ 0.43% COPEC 6,145 ▲ 1.45% BSANTANDER 78.62 ▲ 0.54% FALABELLA 5,916 ▲ 0.18% ENELAM 85.18 ▲ 1.16% CENCOSUD 2,050 ▲ 0.49% CMPC 1,083 ▲ 0.48% BANCO CHILE 188.21 ▲ 1.74% LATAM AIR 24.69 ▼ 0.84% YPF 77,450 ▲ 0.36% GGAL 7,930 ▼ 1.86% PAMPA 5,200 ▼ 0.48% TXAR 664.00 ▼ 0.08% ALUAR 949.00 ▼ 1.61% TGS 9,690 ▲ 1.25% CEPU 2,318 ▼ 0.04% MIRGOR 16,750 ▼ 1.47% COME 45.65 ▲ 1.94% LOMA NEGRA 3,523 ▲ 0.71% BYMA 301.75 ▼ 2.11% TELECOM ARG 4,298 ▲ 1.12% ECOPETROL 16.10 ▲ 1.39% BANCOLOMBIA 81.94 ▲ 1.89% GRUPO AVAL 4.90 ▼ 0.20% CREDICORP 391.86 ▲ 0.68% SOUTHERN COPPER 181.07 ▲ 3.75% BUENAVENTURA 30.84 ▲ 3.40% MERCADOLIBRE 1,876 ▲ 0.47% NUBANK 13.91 ▲ 1.76% XP 16.77 ▲ 2.41% PAGSEGURO 9.29 ▲ 0.05% STONE 11.22 ▲ 0.58% GLOBANT 30.97 ▼ 3.58% TECNOGLASS 43.93 ▲ 2.54% GAP AIRPORT 226.43 ▼ 2.72% ASUR 276.66 ▼ 0.72% OMA AIRPORT 107.83 ▲ 1.60% AMX ADR 26.22 ▲ 0.71% FEMSA ADR 133.13 ▲ 3.19% CEMEX ADR 12.73 ▲ 2.21% PETROBRAS ADR 17.94 ▲ 0.34% VALE ADR 14.55 ▲ 2.57% ITAU ADR 8.55 ▲ 0.89% SANTANDER BR 5.39 ▲ 0.75% AMBEV ADR 3.09 ▲ 0.98% CSN 1.03 ▼ 0.49% GERDAU 4.61 ▲ 2.56% LATAM ADR 53.60 ▲ 0.51% BTC 64,534 ▲ 3.69% ETH 1,876 ▲ 5.76% SOL 77.13 ▲ 3.03% XRP 1.11 ▲ 4.62% BNB 580.08 ▲ 2.37% ADA 0.16 ▲ 3.92% DOGE 0.07 ▲ 3.17% AVAX 6.67 ▲ 3.50% LINK 8.29 ▲ 5.25% DOT 0.85 ▲ 1.61% LTC 44.94 ▲ 3.34% BCH 235.96 ▼ 0.12% TRX 0.33 ▲ 0.37% XLM 0.19 ▲ 2.60% HBAR 0.07 — 0.00% NEAR 2.02 ▲ 5.44% ATOM 1.56 ▲ 1.69% AAVE 98.96 ▲ 4.87% SELIC 14.25% EMBRAER 82.89 ▼ 0.14% EMBRAER ADR 65.33 ▲ 1.32% JBS 11.84 ▲ 0.34% JBS BDR 59.95 ▼ 1.09% MBRF3 16.17 ▲ 2.86% MBRFY 3.14 ▲ 2.95% INTER 5.64 ▼ 0.27% EGX 52,299 ▼ 0.59% USD/ZAR16.38▼ 0.59% USD/NGN1,381▲ 0.07% NIKKEI 67,744 ▲ 0.74% CSI300 4,797 ▲ 2.15% HSI 24,341 ▲ 0.52% NIFTY 24,052 ▼ 0.66% KOSPI 6,857 ▲ 0.73% JCI 6,040 ▲ 0.03% USD/JPY162.20▼ 0.15% USD/CNY6.76▼ 0.26% DAX 25,147 ▲ 0.13% CAC 8,367 ▲ 0.03% FTSE 10,529 ▲ 0.30% MIB 52,863 ▲ 0.10% IBEX 19,357 ▲ 0.11% STOXX 642.10 ▲ 0.17% EUR/USD1.14▲ 0.35% GBP/USD1.34▲ 0.01% SPX 7,545 ▲ 0.40% DJI 52,531 ▲ 0.06% NDX 29,586 ▲ 1.10% RUT 2,965 ▲ 0.40% TSX 35,334 ▲ 0.23% VIX 16.41 ▼ 4.37% USD/CAD1.41▼ 0.65% US10Y 4.5850 ▼ 0.52% IBOV 176,523 ▲ 0.45% IPSA 10,928 ▲ 0.16% IPC MEX 66,555 ▲ 0.88% MERVAL 3,223,744 ▼ 0.36% COLCAP 2,298.47 ▼ 0.40% BVL PERÚ 56,428.20 ▲ 1.15% USD/BRL 5.08 ▼ 1.19% USD/MXN 17.43 ▼ 0.55% USD/CLP 925.90 ▼ 0.75% USD/COP 3,247 ▼ 0.48% USD/PEN 3.39 ▼ 0.62% USD/ARS 1,470 ▼ 0.88% USD/UYU 40.23 ▲ 0.99% USD/PYG 6,039 ▲ 1.12% USD/BOB 10.35 ▲ 6.04% USD/DOP 58.25 ▲ 0.29% USD/CRC 448.93 ▲ 1.31% USD/GTQ 7.62 ▲ 2.07% USD/HNL 26.73 ▲ 1.38% USD/NIO 36.62 ▲ 0.63% USD/VES 722.19 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 156.98 ▼ 0.33% USD/TTD 6.75 ▲ 1.13% EUR/BRL 5.80 ▼ 0.43% BRENT 85.20 ▲ 2.28% WTI 79.64 ▲ 1.92% IRON ORE 161.91 — — COPPER 6.37 ▲ 2.12% GOLD 4,059 ▲ 1.54% SILVER 59.09 ▲ 2.53% SOY 1,191 ▼ 0.96% CORN 459.50 ▲ 4.97% WHEAT 644.00 ▲ 2.71% COFFEE 327.00 ▼ 4.22% SUGAR 14.92 ▲ 1.15% ORANGE JUICE 140.90 ▼ 1.16% COTTON 81.68 ▲ 2.32% COCOA 5,936 ▲ 4.21% BEEF 231.58 ▼ 1.34% CATTLE 349.63 ▼ 1.33% LITHIUM 71.48 ▲ 1.76% PETR4 40.71 ▲ 0.12% VALE3 73.97 ▲ 1.54% ITUB4 43.42 ▼ 0.23% BBDC4 18.51 ▼ 1.39% ABEV3 15.83 — 0.00% BBAS3 20.55 ▲ 1.53% B3SA3 15.37 ▲ 1.65% WEGE3 44.37 ▼ 0.05% PRIO3 57.44 ▲ 0.42% SUZB3 41.32 ▼ 0.41% RENT3 40.41 ▲ 0.52% AZZA3 18.99 ▼ 1.20% CSAN3 3.89 ▼ 0.26% RAIZ4 0.31 ▼ 6.06% PCAR3 2.46 ▼ 5.02% GMAT3 3.99 ▲ 1.27% PSSA3 54.50 ▲ 0.85% CVCB3 1.38 ▲ 10.40% POSI3 3.99 — 0.00% SLCE3 13.75 ▼ 0.87% NATU3 8.54 ▼ 0.70% BRKM5 6.78 ▼ 2.31% RANI3 8.02 ▲ 0.88% CSNA3 5.18 ▼ 1.15% CMIN3 5.10 ▼ 6.42% USIM5 8.26 ▼ 1.43% GGBR4 23.30 ▲ 2.10% ENEV3 27.08 ▲ 0.74% CPFE3 47.23 ▲ 0.83% CMIG4 11.19 ▲ 1.08% EQTL3 41.07 ▲ 2.14% LREN3 14.28 ▲ 0.92% VIVT3 35.61 ▲ 2.53% RAIL3 14.09 ▼ 0.14% KLABIN 17.43 ▼ 0.29% RAIA DROGASIL 18.65 ▲ 2.47% RDOR3 35.97 ▲ 1.15% HAPV3 11.17 ▲ 6.79% FLRY3 16.45 ▲ 1.86% SMTO3 16.21 ▼ 0.98% UGPA3 30.03 ▼ 2.91% VBBR3 33.02 ▲ 0.79% BBSE3 40.29 ▲ 0.02% BPAC11 57.85 ▲ 0.57% CURY3 33.50 ▲ 1.15% AERI3 2.05 ▼ 1.44% VIVARA 23.43 ▲ 1.38% COMPASS 25.21 ▲ 1.78% VAMOS 3.17 ▲ 4.97% SANB11 27.32 ▼ 0.18% ASAI3 8.66 ▼ 0.57% SBSP3 30.38 ▲ 0.03% WALMEX 49.41 ▼ 0.48% GMEXICO 199.74 ▲ 2.12% FEMSA 231.99 ▲ 2.94% CEMEX 22.12 ▲ 1.56% GFNORTE 186.49 ▲ 2.43% BIMBO 56.29 ▲ 0.75% TELEVISA 9.53 ▼ 0.83% AMX 22.89 ▲ 1.33% GAP 395.80 ▼ 3.04% ASUR 276.66 ▼ 0.72% OMA 235.56 ▲ 0.96% KOF 179.99 ▼ 0.93% GRUMA 279.64 ▼ 0.61% KIMBER 38.36 ▲ 0.37% SQM-B 67,500 ▲ 0.43% COPEC 6,145 ▲ 1.45% BSANTANDER 78.62 ▲ 0.54% FALABELLA 5,916 ▲ 0.18% ENELAM 85.18 ▲ 1.16% CENCOSUD 2,050 ▲ 0.49% CMPC 1,083 ▲ 0.48% BANCO CHILE 188.21 ▲ 1.74% LATAM AIR 24.69 ▼ 0.84% YPF 77,450 ▲ 0.36% GGAL 7,930 ▼ 1.86% PAMPA 5,200 ▼ 0.48% TXAR 664.00 ▼ 0.08% ALUAR 949.00 ▼ 1.61% TGS 9,690 ▲ 1.25% CEPU 2,318 ▼ 0.04% MIRGOR 16,750 ▼ 1.47% COME 45.65 ▲ 1.94% LOMA NEGRA 3,523 ▲ 0.71% BYMA 301.75 ▼ 2.11% TELECOM ARG 4,298 ▲ 1.12% ECOPETROL 16.10 ▲ 1.39% BANCOLOMBIA 81.94 ▲ 1.89% GRUPO AVAL 4.90 ▼ 0.20% CREDICORP 391.86 ▲ 0.68% SOUTHERN COPPER 181.07 ▲ 3.75% BUENAVENTURA 30.84 ▲ 3.40% MERCADOLIBRE 1,876 ▲ 0.47% NUBANK 13.91 ▲ 1.76% XP 16.77 ▲ 2.41% PAGSEGURO 9.29 ▲ 0.05% STONE 11.22 ▲ 0.58% GLOBANT 30.97 ▼ 3.58% TECNOGLASS 43.93 ▲ 2.54% GAP AIRPORT 226.43 ▼ 2.72% ASUR 276.66 ▼ 0.72% OMA AIRPORT 107.83 ▲ 1.60% AMX ADR 26.22 ▲ 0.71% FEMSA ADR 133.13 ▲ 3.19% CEMEX ADR 12.73 ▲ 2.21% PETROBRAS ADR 17.94 ▲ 0.34% VALE ADR 14.55 ▲ 2.57% ITAU ADR 8.55 ▲ 0.89% SANTANDER BR 5.39 ▲ 0.75% AMBEV ADR 3.09 ▲ 0.98% CSN 1.03 ▼ 0.49% GERDAU 4.61 ▲ 2.56% LATAM ADR 53.60 ▲ 0.51% BTC 64,534 ▲ 3.69% ETH 1,876 ▲ 5.76% SOL 77.13 ▲ 3.03% XRP 1.11 ▲ 4.62% BNB 580.08 ▲ 2.37% ADA 0.16 ▲ 3.92% DOGE 0.07 ▲ 3.17% AVAX 6.67 ▲ 3.50% LINK 8.29 ▲ 5.25% DOT 0.85 ▲ 1.61% LTC 44.94 ▲ 3.34% BCH 235.96 ▼ 0.12% TRX 0.33 ▲ 0.37% XLM 0.19 ▲ 2.60% HBAR 0.07 — 0.00% NEAR 2.02 ▲ 5.44% ATOM 1.56 ▲ 1.69% AAVE 98.96 ▲ 4.87% SELIC 14.25% EMBRAER 82.89 ▼ 0.14% EMBRAER ADR 65.33 ▲ 1.32% JBS 11.84 ▲ 0.34% JBS BDR 59.95 ▼ 1.09% MBRF3 16.17 ▲ 2.86% MBRFY 3.14 ▲ 2.95% INTER 5.64 ▼ 0.27% EGX 52,299 ▼ 0.59% USD/ZAR 16.38 ▼ 0.49% USD/NGN 1,381 ▲ 0.20% NIKKEI 67,744 ▲ 0.74% CSI300 4,797 ▲ 2.15% HSI 24,341 ▲ 0.52% NIFTY 24,052 ▼ 0.66% KOSPI 6,857 ▲ 0.73% JCI 6,040 ▲ 0.03% USD/JPY 162.21 ▼ 0.13% USD/CNY 6.7624 ▼ 0.13% DAX 25,147 ▲ 0.13% CAC 8,367 ▲ 0.03% FTSE 10,529 ▲ 0.30% MIB 52,863 ▲ 0.10% IBEX 19,357 ▲ 0.11% STOXX 642.10 ▲ 0.17% EUR/USD 1.1425 ▲ 0.33% GBP/USD 1.3390 ▲ 0.31% SPX 7,545 ▲ 0.40% DJI 52,531 ▲ 0.06% NDX 29,586 ▲ 1.10% RUT 2,965 ▲ 0.40% TSX 35,334 ▲ 0.23% VIX 16.41 ▼ 4.37% USD/CAD 1.4065 ▼ 0.62% US10Y 4.5850 ▼ 0.52%
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Opinion: The Curmudgeon on Investigative Journalism

By · September 23, 2014 · 3 min read

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Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL – Last Friday, Candidate Dilma, at a press conference, said “the rôle of the press is not to investigate, but to divulge information.” As one might expect, this set off a flurry of “information divulging” by the Brazilian press, unanimously critical of her position. On Sunday, realizing she had shot herself in the foot, Candidate Dilma began to backtrack.

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The background for the Friday outburst is, of course, the ongoing Petrobras scandal, which threatens to wreak havoc with several ever-so-important political allies of Candidate Dilma. The “premium delator” (see the Curmudgeon on Illation and Delation for the denotation and connotation of these words) Paulo Roberto Costa has (apparently) reached a deal with federal prosecutors that will let him walk free in exchange for fingering other guilty parties.

Candidate Dilma was asked about this at a press conference and she waxed irate, claiming she had requested the Prosecutor’s office to hand over to her the testimony it was gathering from Mr. Costa, but had been denied! How, she asked, was it possible for journalists to obtain copies, but not the President of the Republic?

Now, that’s not a bad question to ask, because the investigation and the entire case are under a judicial secrecy order, meaning no one who is not directly involved can see what’s in the record. So, how did a large circulation magazine find out about the list of supposed wrong-doers? Obviously, there was a leak.

The spin doctors had Candidate Dilma say “criaram uma confusão danada” (roughly “they created a helluva commotion”) over her statement and had her admit that “investigative journalism can furnish evidence.” But only evidence, lest there’s a risk the “real” investigation be compromised. She cited Watergate as an example where journalists furnished evidence and the prosecutors got convictions.

Candidate Dilma must not remember what Watergate was about. It was about crimes (e.g. breaking and entering) committed to help the Republican election campaign. The “Lava Jato” investigation was begun by federal police and prosecutors before any leaks were made, but the leaks indicate that the money laundering was to help election campaigns of several Brazilian political parties.

Candidate Dilma further did not say why she herself wanted to see what the journalists had seen. After all, the investigation is ongoing, the police and prosecutors are assembling evidence, and only after they finish will they bring charges where appropriate. There is nothing the President of Brazil can do to change that, and the President of Brazil knows that.

Candidate Dilma, on the other hand, would dearly love to obtain that same information in order to help with damage control for the upcoming elections. The sooner she learns the weak points, the sooner counter-measures can begin.

If what President Dilma really wanted was more expeditious action by prosecutors, she should have said so. But she didn’t say that last Friday because, in fact, Candidate Dilma’s worst nightmare is that the police and prosecutors will finish their investigation before October 5th, Election Day, and indict a number of políticos who have been part of the government coalition.

If that happens, Candidate Dilma could come third in the vote, and not even make the run-off election on October 26th.


Michael Royster, aka THE CURMUDGEON first saw Rio forty-plus years ago, fetched up on these shores exactly 36 years ago, still loves it, notwithstanding being a charter member of the most persecuted minority in (North) America today, the WASPs (google it!)(get over it!)

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