Word: cogollos
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Vargas, 57, is a hemispheric jetsetter who has successfully navigated between the often contentious relationship of Venezuela and the United States, though hardly without controversy. As a young lawyer he married into one of Venezuela's cogollo (élite) families and then, as one of the country's smartest bankers, learned to swim in its prodigious and often corrupt oil industry. But while many of Venezuela's business and financial titans have chafed under the left-wing revolution Hugo Chávez began a decade ago, Vargas and his Banco Occidental de Descuento (Venezuela's fifth largest) have thrived...
That is largely why Venezuelans last year elected the populist, corruption-busting Chavez. A former army paratrooper colonel, he led a bloody but failed coup attempt in 1992 that was widely applauded by citizens fed up with cogollo rule. Many citizens complained that Chavez's government was initially slow to respond to the disaster. They conceded, however, that he was doing more than his effete predecessors would probably have done--dispatching troops to set up relocation camps and touring the devastated areas in his trademark red beret. On Dec. 15, the day the flooding began, voters approved his new federal...
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