Broken stock, yes, but this punishing drop in share price will send a strong message to the Brazilian government. At the end of the day a whipped dog is a wiser dog and they won't kill the goose that laid the golden egg. Anyway, let's hope they won't.
Exactly. Worst of all is that it could have something hidden. An oil company claiming having huge reservation with almost XOM size can not even supply enough oil for Brazil, and generate less and less revenue? For a fraud company like Enron, once something is wrong, it has few ways to hide. But for the PBR, can we trust the statements?
They will come to thier senses. Everyone carries a balance sheet. Bernakee will tell ya that. It cost what it cost, untill they see that they are #$%$ things up. Brazilian balance sheet hurts when trying to make gas cheap for Pedro...they will figure it out.