The trades of the operators of Wall Street in Argentina

They worked in the largest investment banks and entered the government to increase their wealth.

February 3, 2019

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PRO economists, who saturate the first two lines of power, have more in common than they appear. Most worked in the United States, in JP Morgan Bank or Deutsche Bank, and accumulated a fortune in the financial market, which bet against the underdeveloped countries.

Macri Finance and Finance Minister Alfonso Prat Gay worked at JP Morgan's New York office. At the end of 1998, he designed a race against the Brazilian real, which left millions of dollars worth of profits. The young financier of the time then deserved to be sent to London to lead the global coin strategy of the bank. He worked at the firm until 2001, when he left to devote himself to politics.

He led the Treasury for a year, until December 2016, enough time to geometrically increase his holdings in order to fix the price of the dollar with the release of "shares" and launch the mega-debt policy, where he earned lucrative commissions from his former employer as a bond investment officer. In addition, in its management, the Central Bank designed the uncontrolled issue of Lebac, which has become a snowball for the state and a global activity for the city.

Luis Caputo, who replaced him at the Ministry of Finance, has lived in the United States for most of his lumbering career. He was Head of Operations for JP Morgan Latin America in New York between 1994 and 1998 and Head of Operations at Deutsche Bank Headquarters in the same city between 1998 and 2003. He then returned to the country to preside over the local subsidiary of Deutsche 2008. It was not until 2012 that the Axis investment fund, from which it withdrew, at least on paper, to enter the state.

However, with the change of government, Axis has raised more than $ 10 million in profits thanks to the dollar futures, which allows us to doubt the decoupling. In addition, the pension fund (FGS) bought $ 500 million from Lebac through Axis, a useless and much more expensive outsourcing for ANSES. Axis and its undisclosed offshore group, Noctua, bought the 100-year bonds issued by Caputo.

Caputo invested $ 8.5 million in Lebacs. By not renewing them in January 2018, he came out just in time and won half a million pesos.

As Minister of Finance, he contributed to the country with a debt of 150,000 million USD. As president of the Central Bank, he burned $ 15 million in reserves in three months and allowed the second exchange in mid-2018. In addition, he issued government bonds to Deutsche Bank as a placement agent, which gave them millions of dollars in commissions.

Although not much talked about, the president of YPF was also part of this group of Wall Street operators. Miguel Ángel Gutiérrez worked at JP Morgan between 1980 and 2001, most of the time at the New York offices. It was he who put into practice the maneuver against the Brazilian motto designed by Prat Gay. He was one of the leaders of the mega-exchange that ended in the 2001 disaster in Argentina, for which he was indicted in the trial with the president of the central bank Federico Sturzenegger, who had been expelled. Despite being the head of a state-majority company, one is also currently evolving as a partner of the Rohatyn group, founded by another former JP Morgan.

As the person in charge of the macrista, he was the subject of an investigation for alleged fraud in the public administration in the context of the case initiated by the signing of the memorandum with Qatar, which was trying to dump 300 million dollars from the retiree fund to send them abroad. This was avoided thanks to El Destape's research.