Posted on 05/07/2015 12:11:53 AM PDT by SunkenCiv
...Ms Bachelet's son, Sebastian Davalos, was accused by the opposition of using his influence to get a $10m (£6.5m) bank loan for his wife.
His wife's company used the money to buy plots of land in central Chile which her company then resold for profit. Although Chile's national bank regulator cleared him of any wrongdoing, the issue has become a scandal.
Ms Bachelet always maintained she had not been aware of the deal but in a TV interview on Wednesday night she acknowledged she had made "important mistakes" in not returning from holiday or commenting on the case sooner.
Correspondents say trust in Chile's politicians and the business elite has also been eroded by a campaign-financing scandal involving right-wing politicians and a prominent financial company.
President Bachelet, a Socialist, is Chile's first woman president and ruled the country between 2006 and 2010 - enjoying approval ratings of over 80%.
After a period working for the United Nations in New York, she returned to the presidency for a second term last year but has seen her approval ratings slump to a record low of 31%.
(Excerpt) Read more at bbc.com ...
Chile continues its slide down the well-traveled South American path to Marxist Paradise. Blame the “right-wingers” yeah thats going to work. For a while.
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