3 comments

• Hoss

  US today announces housing financial props that utilize same financial tools – derivatives – and interest only loans that lead to derivatives thru hedge funds, that got us to housing collapse. Future problems ?
  What is happening today in Russia and Europe as response to US plan ? US Stock Market continued to drop… GM near bankruptcy, lowest since 1943.

  11 November 2008, 22:58 pm

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• Hoss

  Did you see my previous question ? regarding Russian economics. How is Russia responding to dropping Oil and Gas prices in US ? As a society, economy, and a country ?Today US dropped in Stock Market again. I know situation is much worse for Russians than us…..

  11 November 2008, 23:06 pm

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• Veronica Khokhlova Contributor profile »

  
  Russia: Financial Problems:

  Streetwise Professor posts a detailed update on Russia’s financial problems:

  “Whichever way Medvedev or Putin […] turn, they face stark choices. Protect the Ruble – burn through the reserves or throw an already wobbly economy into a tailspin by jacking interest rates. Let the Ruble fall – serious potential for political unrest and the almost certain destruction of Putin’s credibility and reputation as the man who restored Russia from its last default. Bail out the oligarchs – say goodbye to dollars and euros. Let the oligarchs default – say goodbye to Russian control over the “crown jewels” of Russian industry, or keep control of them by repudiating foreign commitments and forget about foreign capital for a long time to come.”

  13 November 2008, 1:51 am

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