Chavez threatens Bank takeover

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See a sample reprint in PDF format.Order a reprint of this article nowBUSINESSDECEMBER 8, 2010, 3:58 P.M. ETVenezuela Threatens Takeover of Large Banks ArticleCommentsmore in Business »BY DAN MOLINSKI

CARACAS—President Hugo Chávez threatened to take control over the local unit of Spanish bank Banco Bilbao Vizcaya Argentaria SA and other large financial institutions if they don't ensure that homes and apartments they finance are occupied immediately.

Mr. Chávez, who has brought his own brand of socialism to Venezuela, has nationalized more than 200 companies this year from various sectors of the economy.

While Mr. Chávez has threatened to expropriate large banks in the past if they don't increase loans to small-business owners and prospective home buyers, this time he is increasing the pressure publicly to show his concern for ...

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