“Why did BC ignore warnings for years about Vorcaro?’ asks Haddad

Former Finance Minister Fernando Haddad (PT) once again highlighted, this Wednesday (15), that Banco Master benefited from Central Bank decisions during Roberto Campos Neto’s administration and that the institution “ignored the warnings about Daniel Vorcaro’s behavior” for years.

— I am not aware of any measure taken by the Central Bank in favor of Banco Master before Roberto Campos Neto’s management, and I have no news of a favorable attitude towards Master after Roberto’s management. So, why is Roberto’s management being evaluated from this point of view? Because she was warned, by the financial system, by the FGC (Credit Guarantee Fund), by the banks, that a monster was being created around the Master scheme — she said during an interview with CNN Brasil.

In recent weeks, Haddad has criticized Campos Neto’s management decisions at the Central Bank regarding Master, while avoiding personally crediting the former president of the institution with responsibility for the actions.

“Why did BC ignore warnings for years about Vorcaro?’ asks Haddad

The PT member stated that “for five years the bank prospered without anyone taking measures to prevent what happened, the biggest bank fraud in the history of Brazil”, and that if he were “a progressive person”, he would have already had to explain himself.

— Let’s separate two things: whoever committed illicit acts, there are two directors from Roberto Campos Neto who are facing an investigation for corruption. Is he answering for corruption? No, he’s not. But the question that needs an answer is: why did the Central Bank ignore warnings for years about Daniel Vorcaro’s behavior? Was it due to omission, incompetence, mistake? — asked Haddad.

A pre-candidate for the government of São Paulo, Haddad also said he hoped the Federal Police would investigate “whoever it is”, regardless of the party, and questioned why the Central Bank did not take action to prevent irregularities by Vorcaro. Haddad stated that, when he was at the Treasury, he refused to receive the banker because he was warned that “it was nitroglycerin”.

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— What happened that, for years, a guy who was a nobody, managed to place CDBs totaling almost R$80 billion on the market, what happened? It’s not a bad question, it’s a question that any investigator would ask. I think that if I were a progressive person I would already have to say, how many times have you been warned? Why didn’t you do anything? — he added.

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