Petrobras Scandal Revels Tactic of Hiding Behind Too Big To Fail Cloak of Protection

When on April 14 Bridgewater Associates was reported in ValueWalk saying that Petróleo Brasileiro SA (Petrobras) was a systematic risk to the country of Brazil itself, there were skeptics on several levels. The "too big to fail" banks in the U.S., for instance, took Bridgewater to task, as reported in ValueWalk. Now, almost four months later, the depth of the scandal is considered breathtaking, a fact punctuated by a recent New York Times article detailing the stunning scale of Brazil's...

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