He is on his way to the end of his third term and is pitching his tent to run for the fourth. Luck gave him enemies who occupied the national agenda with the punishment of those responsible for the 2022/2023 coup plot. The fog of the coup clouds the perception of the poor quality of the president’s third term. Take three cases:
1) The scandal, in which the autonomy of the bank served to keep under the carpet a problem that, in the words of the minister, “could be the biggest bank fraud in the history of Brazil”.
2) The promise, made in the inauguration speech, to clear the queue remained on paper.
3) The promise to create a Climate Authority, made in September 2024, also remained on paper.
Three issues, all relevant, all frozen due to mismanagement.
Starting with Banco Master. The doctor paid his CBDs at absurd rates. The Central Bank, chaired by , turned a blind eye.
In December 2024, former minister Guido Mantega took Vorcaro to Lula. According to Planalto, in the presence of Gabriel Galípolo, the president promised him nothing other than a technical decision from the BC.
Okay, but in February the BC asked the Credit Guarantee Fund (a private institution) for a loan of R$11 billion to save Master. They took R$5.7 billion. Galípolo would become president of the BC.
If the decision was technical, they could tell you what the criteria were for injecting R$5.7 billion into a broken bank. There was a lack of management to prevent the leak and there was a lack of management to prevent it from getting worse.
In his inauguration speech, Lula promised: “Be assured that we will put an end, once again, to the shameful INSS queue, another injustice reestablished in these times of destruction.”
The queue was at 930.6 thousand victims and today exceeds 3 million. While he was at the Ministry of Social Security, he promised joint efforts and nothing happened
Once again, the INSS only worsened the theft of retirees’ money, which began during the Bolsonaro government.
There was a lack of management to reduce the queue.
Finally, where is the Climate Authority? Management failed to promise what it cannot deliver. This is a case where the lack of management is confused with simple clutter. Lula has known for years that the Minister of the Environment, , accepts the creation of this Authority as long as it stays within the square of his bureaucracy. Thus, she triggered the creation of an organization with transversal powers, based in Planalto, dealing with several ministries.
If the minister froze the idea when it was a campaign promise, the question remains: why did Lula return to the flag in the second year of his term? Worse, he could have served the minister, creating the Authority to serve as a giraffe in the Ministry of the Environment’s square. He didn’t do one thing or the other.
The three cases are different from each other. Master became what he became because the Central Bank didn’t want to mess with the rotten band upstairs. The INSS queue has tripled because the bureaucracy doesn’t know how to move when it needs to work downstairs. With the Climate Authority, it’s just the old addiction of promising for the sake of promising.
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