was that of a young man of limitless ambition capable of anything if it would bring him to power. For that reason, a few days after that first meeting, I said on two television interviews conducted by the journalists Jaime Bayly and César Hildebrandt that I would vote not for him but for the candidate of the PPC (the Partido Popular Cristiano: the Christian Popular Party), Luis Bedoya Reyes. Despite that fact, and despite an open letter that I wrote to him when he had been in power for exactly a year, condemning him for the massacre of the rioters in the Lima prisons in June of 1986, * he did not seem to bear me any ill will that morning at the Presidential Palace, for his attitude toward me was warm and friendly. At the beginning of his term in office he had sent word to me to ask if I would accept the ambassadorship to Spain, and now, even though he knew how critical I was of his policies, the conversation could not have been more cordial. I remember having said to him, jokingly, that it was a shame that having had the chance to be the Felipe González of Peru he was determined to be our Salvador Allende, or, worse still, our Fidel Castro. Wasn’t the world headed in other directions?
Naturally, among all the things I heard from him that morning concerning his immediate political plans, the most important subject of all didn’t come up—a measure that at the time he had already cooked up with a group of intimates, and that Peruvians first heard of by way of that speech on the 28th that Freddy and I heard, with García’s voice broken and crackling on that ancient radio beneath the burning-hot sun of Punta Sal: his decision to “nationalize and bring under government control” all banks, insurance companies, and financial institutions in Peru.
“Eighteen years ago I learned in the daily papers that Velasco had taken my country estate away from me,” a gentleman already well along in years, in a bathing suit and with an artificial hand hidden by a leather glove, exclaimed. “And now, from this little radio I learn that Alan García has just taken my insurance company away from me. That’s quite something, wouldn’t you say, my friend?”
He rose to his feet and dived into the ocean. Not all the vacationers in Punta Sal took the news in the same debonair spirit. They were professionals, executives, and a few businessmen associated with the threatened companies, and to one degree or another they were aware that the measure was going to go against their interests. They all remembered the years of the dictatorship (1968–80) and the massive nationalizations—at the beginning of Velasco’s regime there had been seven public enterprises and at the end of it close to two hundred—which had turned the poor country that Peru was then into the poverty-stricken one it is today. At dinner that night in Punta Sal, a lady at the next table was lamenting her fate: her husband, one of the many Peruvians who had emigrated, had just left a good position in Venezuela to come back to Lima—to take over the management of a bank! Would the family have to take to the world’s highways and byways yet again in search of work?
It was not difficult to imagine what was going to happen. The owners would be paid in worthless bonds, as had happened to those whose holdings had been expropriated in the days of the military dictatorship. But those proprietors would suffer less than the rest of the Peruvians. They were quite well off and, ever since General Velasco’s plundering had begun, many had taken precautions by sending their money abroad. It was those who had no protection at all—workers and employees in banks, insurance agencies, and financial firms—who would become part of the public sector. Those thousands of families did not have accounts abroad, and no way to head off the people of the party in power, who would march in and take possession of the prey they coveted. From now on, the latter were the ones who would occupy