Comic-In-Chief

(Fox News) - Earlier this week, Venezuelan President Hugo Chavez reveled in the Lehman Brothers collapse, mocking it as a sign of capitalism's demise.

"They were always producing negative reports about Venezuela. They forgot about themselves... and boom! They were bankrupt... rest in peace."

But the Wall Street Journal reports Venezuela could become a victim of the investment bank's failure. You see, the Venezuelan government holds about $300 million in debt instruments that Lehman had agreed to cash. Now that Lehman is in bankruptcy, Venezuela will likely have a very hard time selling the debt.

Senior economist at Barclay's Capital Alejandro Grisantisays, "The government will likely have to assume a steep loss." How much depends on the bankruptcy proceedings.