Bank Master: ‘We’ll all pay a little for the damage’, says economist

The extrajudicial liquidation of Bank Master, decreed by the Central Bank last week, is an example of privatization of profits and socialization of losses, according to Roberto Luis Troster, a partner at the consultancy Troster & Associados. ‘It’s not just the over R$ 40 billion that the CGF [Credit Guarantor Fund] lost, there are several other investors who also lost funds,’ notes Troster. ‘We’ll all pay a little for that.’ Banker Daniel Vorcaro, owner of Bank Master, was arrested preventively on November 17, accused of defrauding R$ 12.2 billion from the banking system.