21 October 2008

NEWS REPORT / Some "Quirks" of Russian Economics

Tuesday, 21 October 2008, Evening edition
News Vs. Propaganda Report
Some "Quirks" of Russian Economics

Some "Quirks" of Russian Economics:
Oligarchs & Politicians Dissed...

Putin May Use Credit Squeeze to `Destroy' Oligarchs
Full article: http://www.bloomberg.com/apps/news?pid=20601109&sid=aR7ZSZbKh0so&refer=home
Excerpt(s): Oct. 17 (Bloomberg) -- Vladimir Putin came to power in 2000 vowing to destroy Russia's oligarchs ``as a class.'' Within two years, he'd driven two into exile and imprisoned another. Now, he may use the global markets meltdown to finish the job. The $50 billion that the prime minister and President Dmitry Medvedev have pledged to lend cash-strapped companies will extend state control over business leaders. Billionaires seeking bailouts -- including Oleg Deripaska, Russia's richest man, and Mikhail Fridman -- will have to give authorities veto power over their companies' financing decisions... As recently as April, Russia's 100 wealthiest citizens had a combined fortune equivalent to about a third of the economy, Forbes magazine estimated. The nation's 25 wealthiest businessmen have seen their worth shrink by $230 billion, or 62 percent, according to Bloomberg calculations. And Putin controls the strings on the biggest remaining purse -- $531 billion in government reserves, which he is doling out through state-run Vnesheconombank, or VEB, where he presides as chairman of the supervisory board.

Russia refuses to fund McCain's campaign: Junk mail gaff embarrasses McCain
Full article: http://www.russiatoday.com/news/news/32134
Excerpt(s): One of Russia’s harshest critics, Republican presidential candidate John McCain, has been left with egg on his face after his campaign team sent a cap-in-hand letter to the Russian mission in the UN begging for cash. But Russia says it won't donate, insisting it doesn't interfere in politics abroad. Confirming it had received the circular, the Russian Mission at the United Nations said it was rejecting the request. A press release on Monday said Moscow never finances politics in foreign countries. Furthermore, Russians at the UN are treating the letter as a computer-generated error, a piece of junk mail.

No comments:

Post a Comment