Word: pinedo
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...brilliant, impatient Finance Minister Federico Pinedo, who has a plan for the long-term refinancing of Argentine industry by the Central Bank of Argentina and the Government. Most Conservatives are against the Pinedo Plan because they fear its provision empowering the Government to mobilize private bank funds. Radicals are against it because they believe that Pinedo, an ambitious Conservative politician, wants to use it to ride into the Presidency in 1944. Nevertheless, with some difficulty and some pruning, Finance Minister Pinedo pushed his plan through the Conservative-dominated Senate. To get it through the Chamber of Deputies, which...
Fortnight ago he flew to Mar del Plata and offered to Radical Leader Marcelo T. de Alvear, who was vacationing there, a political truce. Under this new Pinedo plan the chiefs of the two political camps, Radicales and Conservadores, would choose common candidates for the principal offices to be filled in provincial elections this year. For minor offices each camp would run its own candidates. While wily Marcelo de Alvear kept mum, Pinedo let the deal out of the bag and the press and Juan Pueblo waxed indignant...
...Juan and the press it seemed that the Conservatives' answer to the Radicals' accusation of election frauds (TIME, Jan. 6) was to invite the Radicals in on the fraud. Some said that Pinedo was impelled by an ultimatum from Washington: no political stability, no more loans. Buenos Aires' great La Prensa boomed that the fraud was directed from the President's Pink House. The English-language Standard and the evening Noticias Gráficas called for Pinedo's resignation...
...weeks later, the new era came to an end. Argentine Finance Minister Federico Pinedo picked this time to talk cold turkey to Buenos Aires sales agents of U. S. exporters. Said he: "If you want more dollar exchange for United States exports to Argentina you must produce it by buying more of our products." To drive home his point, Minister Pinedo brought to bear a kind of pressure he has used before : he cut off dollar permits to importers of U. S. manufactures. Immediately three U. S. auto-assembly plants came back with an announcement that without sub-assemblies irom...
...Pierson's bank last week received $500,000,000 additional lending capital when President Roosevelt signed a bill designed to enable South American countries to build up their own industries, including armaments for hemisphere defense. When it's raining dollars, any banker, even an aristocrat like Pinedo, instinctively will turn his umbrella upside down...