Phyllis Borzi spent decades helping invent ways to protect people from unpleasant surprises in their health and retirement plans. Never did she run into the kind of resistance finance firms have mustered against her latest idea.
In the town of Anaco in eastern Venezuela’s oil-rich Anzoategui state, three yellow-shirted bodyguards rush a trim, perspiring, 39-year-old in a baseball cap from house to shabby brick house through 500 cheering, flag- waving fans. Most in the throng are visibly poor, some are young women with tears of joy running down their cheeks. All are sweaty under a hot April sun.