11 September 2008

How Putin and his ex-KGB pals took over the Russian economy

Fortune article courtesy of CNN on Putin and his St. Petersburg associates. Basically the article grudgingly admits that Yeltsin and his mates were an economic disaster and Putin's boys have improved things. Now, however, their nationalism may start to scare off further investment. They have cleaned out the oligarchs, but the oligarchs were in bed with foreign firms and the renegotiation of deals such as the one with BP is causing concern. Corruption under Yeltsin and Putin are different, but still corruption.

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