Thornton & Ortega Publishing

Economics & Liberty

The federal debt, the tax code, the Fed, energy, education and corporate collapses from FTX to Boeing: where the money goes and who decides.

Paraguayan President Santiago Peña stands before ueno bank amid its collapse, with the central bank, Paraguay’s flag, and distressed depositors in the background. An investigative illustration of the financial scandal, political connections, and regulatory failures behind Paraguay’s banking crisis.
Economics & Liberty

Why Did ueno bank Fail? Follow the Incentives

Paraguay's ueno bank didn't fail because it was digital. Loans to its owners' firms, a regulator from the bank and parked public money explain the collapse.

Thomas OrtegaNovember 6, 2026 · 8 min read

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