Word: setbacks
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VARIABLE ANNUITIES, with payments pegged to market value of stocks, need not be regulated by SEC, ruled U.S. Court of Appeals in Washington. Decision was major legal victory for variable annuities, especially Prudential Insurance Co., and setback for advocates of regulation, particularly the National Association of Securities Dealers. Opponents plan appeal to U.S. Supreme, Court...
After this setback to the right, the left took its licks. In the hallowed "proletarian" section of Paris between the Bastille and the Place de la Republique, 2,000 Communists roamed the streets shouting, "Fascism shall not pass!" A woman stepped out from behind one of the Red commandos to jeer at the police: "Sa-lauds!" With a roar, a squadron of 30 flics charged. The plainclothesman leading them hit the jeering woman squarely in the mouth. The rest of the mob faded away...
Encouraging Setback. The federation scheme is anathema to French right-wingers, but it has long been accepted in principle by some French moderates, and in Paris last week it was the moderates who were gaining ground. Waspish Georges Bidault, the first aspirant to succeed fallen Premier Felix Gaillard (TIME, April 28), could not even persuade his own Popular Republican Party to support him in forming a government; in fact, only one of the party's 75 members in the Assembly had joined him in voting to bring down Gaillard. Having given Bidault and his policy of even harsher prosecution...
...Pleven's nomination, Tunisia's President Habib Bourguiba promptly announced that he no longer intended to reopen Tunisia's U.N. Security Council complaint against France over French air force bombing of the village of Sakiet-Sidi-Youssef (TIME, Feb. 17). Said Bourguiba: "Monsieur Bidault's setback is an encouraging sign. His failure shows that there does not exist in the French Parliament . . . any majority for an extremist policy...
Riddled by police raids and command indecision, Fidel Castro's rebels more than ever lacked arms and bombs, but still showed plenty of bombast. In an interview with U.S. newsmen, dyspeptic Havana Rebel Chieftain Dr. Faustino Pérez alibied the "minor setback" in the capital as caused mostly by "delayed public reaction," insisted: "Our units are intact." Broadcasting from the clandestine rebel station, Castro unleashed a farrago of nonsensical victory claims, e.g., "There is no rebel patrol that has not scored a resounding success." He added an unlikely atrocity tale: "In the Sierra Maestra peasants' huts...