Bailout

Lawless Russia

By Felix Salmon

Just in case you were feeling all happy about the book giveaway, let me bring you down to earth by pointing you to Law and Order in Russia, a website set up by Hermitage Capital Management in memory of their noble Russian lawyer, Sergei Magnitsky. Do read his story, it’s horrific, and I hope it shames the Russian government to do more than simply fire major general Anatoly Mikhalkin of the Moscow Interior Ministry (although that’s a good start).

It’s quite amazing, the way in which the Russian police — with full impunity — managed to steal a whopping $230 million which Hermitage had paid in taxes in 2006. Magnitsky seems to have been unexpected collateral damage. Do spread this story: it shows in the most visceral way just how lawless Russia really is.

(Many thanks to Jesse Eisinger for the heads-up.)

Full post as published by Macroprudential on December 16, 2009 (boomark / email).