Word: brasils
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...shortly after the U.S. Government came up with a $1.2 billion short-term bailout loan for Brazil (where U.S. institutions carry $18.9 billion of a total debt of $87 billion), several large U.S. banks combined forces to rescue Brazil's largest commercial bank, the government-controlled Banco do Brasil, from a severe cash shortage. This support operation is still continuing...
...months the cash drain was kept quiet. But eventually the lending banks began to pick up the whiff of desperation. Brazil dipped into its $5.5 billion reserve of U.S. dollars and even pledged its entire 2.5 million-oz. gold cache to secure credit. Then the government-controlled Banco do Brasil, which finances the nation's international trade, began drawing down cash, estimated at nearly $2 billion, that it ordinarily keeps on deposit with major international banks. When that was exhausted, the Brazilian bank was forced to turn to overnight borrowings to stay in business...
Geisel had apparently won his gamble for a mandate-namely, a majority vote for ARENA candidates-but not by the margin he sought. As Columnist Carlos Castello Branco wrote in Jornal do Brasil, "This is a victory with the flavor of defeat." As expected, ARENA candidates won in Brazil's rural backlands, but MDB swept five of Brazil's largest cities by substantial margins...
This band is louder. And possibly less assuming. The first group had its self-indulgences--Purim and Airto occasionally turned the band into an immensely talented Brasil '66. (And this may be what I mean by Latin influences). The outfit that showed up at Sanders has an album, Hymn to the Seventh Galaxy, and all those Mahavishnu comparisons. But it wasn't the same. This band is subdued, even sedate. One t-shirt. No dashikis. Corea himself is dressed in late period St. Grottlesex. Solid introductions. Then seven-eight fingersnaps and "Hymn to the Seventh Galaxy" seems half over. "Hymn...
Light as a Feather (Chick Corea, pianist, Polydor; $5.98). Imagine Sergio Mendes and Brasil 66 playing variations on Miles Davis and you get some idea of the results produced here by Jazz Pianist Chick Corea and his group Return to Forever. This is an ingenious blend of Latin, pop and jazz, both traditional and avantgarde...