Bankers’ Loopholes, Palestine Chants, and Navy Scandals
Mexico Decoded’s weekly briefing makes sense of the news that matters
1. Navy Scandal Rocks Mexico
The Department of Public Safety arrested 14 people, including six Navy officers and three businessmen, tied to a fuel-smuggling scheme that diverted 10 million liters of diesel. Among those detained is Vice Admiral Farías Laguna, nephew of former Navy Secretary Rafael Ojeda.
Decoded:
The capture of a high-ranking admiral with family ties to a past Navy chief challenges the belief in military integrity. Sheinbaum is signaling that even top figures are not beyond accountability.
2. Meet “The Visa Remover”
US Deputy Secretary of State Christopher Landau has styled himself as “El Quitavisas” (“the Visa Remover”), publicly boasting on X that he will cancel tourist visas of artists, activists, or citizens who criticize Washington or mock US officials.
Decoded:
Using social media to punish dissent mixes diplomacy with intimidation, raising concerns over free expression and the abuse of U.S. influence abroad.
3. Palestine Chants Test Sheinbaum’s Balancing Act
At a free concert in Mexico City’s main plaza, the fans of Puerto Rican artist Residente erupted in chants against the genocide in Gaza. Residente brought a Palestinian refugee family onstage and performed in a hoodie that read “Free Palestine.”
Decoded:
Mexico officially recognizes the State of Palestine and backs its UN membership, yet Sheinbaum has remained silent on Gaza to stay in Washington’s good graces.
4. No More Bankers’ Loophole
Mexico has closed a loophole that let banks lower their tax bills by deducting payments tied to the 1994–95 financial bailout. That rescue, which cost 14% of GDP, not only saved banks with taxpayers’ money but also allowed them to reduce their taxes by deducting the small share they were asked to contribute.
Decoded:
The reform removes this double benefit. Powerful financial groups will no longer be cushioned at the expense of the public.
5. Mexico’s Stock Market Breaks Record
Mexico’s main stock index has surpassed 60,000 points for the first time in history, rising about 22% this year. That makes it one of the best-performing emerging markets globally.
Decoded:
The surge reflects growing investor confidence in “Plan México,” Sheinbaum’s strategy to modernize infrastructure, expand clean energy, and attract manufacturers leaving Asia —positioning Mexico as a key player in global supply chains.
The hyperlink for the source of the Banker's Loophole note is not working (Mexico has closed a loophole that...). Could you maybe update it? Great briefing!