BREAKING: Mexico Finance Minister Quits Post (9/7/2016)
After suggesting Enrique Peña Nieto, the president of Mexico, meet with Donald Trump, Mexico's Finance Minister has announced his resignation. The damage is done, however, since Videgaray managed to implement the talking points of his thesis in the formerly state runned sector of the economy: the oil industry. Videgaray made a doctoral thesis focused on using oil shocks as a means to disrupt public spending and control over the oil industry.
BREAKING: Sept. 9, 2016: Mexico City, Mexico- The finance minister of Mexico, Luid Videgaray Caso, has quit his post. Speculation abounds as to whether he quit as a result of his suggestion for Enrique Peña Nieto to meet with Republican presidential candidate, Donald Trump. Videgaray received favorable press from his American handlers; Videgaray was expected to privatize as much of Mexico's as possible, but the impunity condition on Mexico's political elite has ironically set back his efforts at having a smoothly runned foreign controlled economy.
Luis Videgaray Caso is not a well liked figure in Mexico or abroad. An evangelist of the Chicago school of economics, but a graduate of the Massachussets Institute of Technology, Videgaray received his doctoral degree in Economics and Finance. His thesis centered around oil shocks and different mechanisms to privatize the economy in times of budget shortages. Needless to say, his efforts to privatize the country's economy have led to great strife and inefficiencies in the formerly public oil industry. Basic maintenance and labor entitlements for PEMEX (the state oil company) have been further neglected in favor of oil well auctions that literally sell off pieces of Mexico's valuable infrastructure to connected foreign bidders... at a discount.
Nonetheless, it wasnt all technocratic fun and games for the now former Finance Minister; Videgaray Caso was at the center of his own mini corruption scandal when it was found that a private contractor ('Constructora Higa') also financed and built a luxurious home for him in a manner similar to EPN's 'Casa Blanca'. The issue was never put to rest in Mexico, but as is common for politicians of his rank, there were no consequences. His only mistake was to have advised one too many bad moves to Enrique Peña Nieto.