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US President Barack Obama greets his Venezuela counterpart Hugo Chavez - Source: Reuters -
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Venezuela's President Hugo Chavez said that he and Cuban ally
Fidel Castro risk being more conservative than US President Barack
Obama as Washington prepares to take control of General Motors
Corp.
During one of Chavez's customary lectures on the curse of
capitalism and the bonanzas of socialism, the Venezuelan leader
made reference to GM's bankruptcy filing, which is expected to give
the US government a 60% stake in the 100-year-old former symbol of
American might.
"Hey, Obama has just nationalized nothing more and nothing less
than General Motors. Comrade Obama! Fidel, careful or we are going
to end up to his right," Chavez joked on a live television
broadcast.
During a decade in government, Chavez has nationalized most of
Venezuela's key economic sectors, including multibillion dollar oil
projects, often via joint ventures with the private sector that
give the state a 60% controlling stake.
Obama has vowed to quickly sell off General Motors once the auto
giant is back on its feet, but the government will initially
control the company after a US$30 billion injection of taxpayer
funds.
Chavez, a vehement critic of the US "empire," has toned down his
rhetoric since Obama took office in January and the two men shook
hands during a summit in Trinidad and Tobago in April.
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