Memorial Archives

Tired Of The Belly-aching Over Yukos
posted Jul 15, 2004 at 02:36PM

Dear Editor,

I am getting a little weary of financial reporters weeping and wailing over the plight of YUKOS. What exactly are they advocating? That corporations be allowed to pick up public assets for a song, not pay any taxes and then
dictate who will run the country? No need to wonder about the foot-dragging over putting the Enron board in a cage where they belong.

Societies that put a surging stock market index over a healthy society get neither, a lesson I fear America is going to learn in spades. The fact that Russia's economy is surging despite a weak stock market index and
foreign investment per capita ratio less than Albania, shows that Putin has his act together. Compare that to the US "house of cards", debt driven economy and financial structure that is only being held up by Asian central
banks willingness to soak up US debt.

I feel no sympathy for foreign investors holding the YUKOS bag...if you put your money into companies that are trying to overthrow the government, then you are just plain stupid. One has to wonder what advice YUKOS's
"American" advisors were giving? - perhaps they were confused and thought they were in Venuzuela?

As far as snatching "defeat from victory", this award surely must go to Khodorkovsky the YUKOS CEO - On a silver platter, and on no merit other than good networking skills, he was given the opportunity to live better than all but a handful of humans on the planet, but being a billionaire was not enough - and now he rots inside a tiger cage.


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