Word: branco
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Dates: during 1960-1969
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Brazil's doughty President Humberto Castello Branco is caught in a bind. He has promised to hold gubernatorial elections in eleven states (out of 22) in October and a presidential election next year; his revolution, he says, "is not afraid of the ballot box." But because Castello Branco has a scruple against outlawing the opposition, one of the contenders for votes will be the Brazilian Labor Party, the power behind the inflationist, leftist regime that Castello Branco overthrew last year. The President is counting on electoral courts to use the new Ineligibilities Law to keep off the ballot candidates...
...Castello Branco's cause fared less well in the state of Minas Gerais. There the government sought to have Sebastião Paes de Almeida, 53, a multimillionaire industrialist-turned-politician, thrown out of the gubernatorial race for "abuse of economic power"-his legendary largesse at election time has earned him the nickname "Tião," after a famed Brazilian train robber. The state electoral court refused to cancel Paes de Almeida's candidacy. "If that section of the law does not apply to him," grumbled one Castello Branco aide, "we might as well...
...came a sudden and dramatic change. Last week, having broken all records in July, daily trading volume advanced to 1,626,447 shares, and daily sales topped $1,000,000 for the first time in history. Main reason: a new capital-market reform bill that Brazilian President Humberto Castello Branco signed into law last month. The law sets up an equivalent of the Securities and Exchange Commission by empowering the central bank to discipline the market, allows new brokers to enter the previously closed exchange, requires firms trading on the market to publish regular and reliable financial statements, and cuts...
...provide more than enough confusion for any ordinary citizen. Effective action in Congress is chronically hobbled by interparty bickering and mercurial coalitions. "Our politics have not surpassed tribal primitivism," admits José Eduardo Kelly, a founder of U.D.N. (National Democratic Union), one of the parties in President Humberto Castello Branco's current coalition...
Last week Castello Branco took a hopeful step toward detribalizing Brazil's politics by signing into law a new electoral code and a tough party reform. The new code is intended to put Brazil's election procedures into coherent form for the first time, banning coalition candidates in mayoral as well as state and federal deputy races so as to reduce confusion. The other reform measure is designed to cut the number of parties down to manageable size and ensure that they have meaningful grass-roots representation...