In Venezuela, the only bid for the Stanford Bank was $58 million. Too low for the government’s taste, and so they simply shut down the auction. They plan to reopen the sale of the bank to anyone who would be willing to shell out more than $180 million; the actual price of the bank. Where would all the money go?
Well, the government would be using it to back up the accounts in the bank. To prevent any more problems, the government is going to control the operations of the bank so that it would not follow the cycle of other banks worldwide. The boom and bust cycle does not help the banking system in any way.