Caracas Chronicles

This week on FP.com, I try to explain to a gringo audience that the real problem with cases like the Aban Pearl’s isn’t just the unabashed looting of public funds; it’s that Venezuela’s institutions have been degraded to the point that there are simply no repercussions at all for people engaged in this sort of scam.

Obsessive lone-wolf bloggers are now more or less our only remaining line of defense against total impunity. And we don’t have nearly enough of them…