Decision time for Brazil’s top bankers
Even the Brazilian press is critical of Garantia because of its secretiveness and past refusals to talk to journalists. Lemann is especially reclusive and, true to form, refused to be interviewed for this article, as did chief executive Claudio Haddad. Seizing their opportunity to retaliate, many Brazilian newspapers have devoted considerable time and energy to coverage of Garantia’s troubles. Keeping up the heat the business magazine Exame published in April a three-page story headlined: “He can’t bear to hear about Garantia.
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