by Mike ‘Mish’ Shedlock
In a 367-137 vote with two absent and seven abstentions, Brazil’s lower house of Congress voted to impeach President Dilma Rousseff.
342 vote were needed. To reach that total, members of her own party had to abandon Ms. Rousseff.
Rousseff and high level officials in her administration are accused of massive corruption and bribes involving state-owned oil company Petrobras.
Corruption, no matter how blatant, is typically overlooked in good economic times. However, Rousseff presides over a Brazilian economy that is in its worst recession in over a century.