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Vlad the Dissembler
Posted by: McQ on Wednesday, October 01, 2008

When in trouble, blame your woes on an outside "enemy":
Russian leaders blamed the US financial system's irresponsibility for the world economic crisis and said it should top the next American president's agenda, as Washington struggled to calm markets Wednesday.

"Whoever is elected president, the number one goal will be to shed light on the state of the (US) economy," Medvedev told reporters following talks with Spanish Prime Minister Jose Luis Zapatero in Strelna, near Saint Petersburg.

In Moscow meanwhile, Russian Prime Minister Vladimir Putin laid the blame squarely on the US financial system.

"Everything happening now in the economic and financial sphere began in the United States," he launched told a televised government meeting.

"This is not the irresponsibility of specific individuals but the irresponsibility of the system which claims leadership," he added.
Yeah, Vlad, that explains why investments fled (30 billion) Russia after it invaded one of its neighbors and the ruble dropped like a rock. That's why stocks in Russia tanked a month ago, isn't it?

While I agree much of the turmoil in today's market can be laid at the feet of the US, many of Russia's problems are home-grown.
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Previous Comments to this Post 

The entire kind of reasoning used by Vlad is fallacious, because it assumes his markets are entirely helpless upon the US market, without ever ruling out that his own government might have a lot to blame for their financial woes.

Nevermind their invasion of Georgia - how about the lack of ANY kind of market reform in the USSR - oh I mean Russian economy?

It’s pathetic political pandering. I’m wondering when Vlad will put Russia under the yoke of communism again?
Written By: Forlorn
URL: http://
I sorta wish we did have that power over the Russian economy.

Sure, losing a trillion bucks is expensive but so is another decade of Defense Department budgets.

An impoverished Russia is a safer Russia.

Maybe if they grow up a bit they can handle to responsibility that comes with wealth.
Written By: Joseph Somsel
URL: http://
If I understand Lance correctly in the "Credit Default Swaps" post, we bailed out AIG to bailout European banks. I’m sure Russia benefited too. We’ll still be blamed no matter what.
Written By: jpm100
URL: http://
Finally! Someone besides the Joooooos get blamed!
Written By: shark
URL: http://
The side effects of the "financial meltdown" are really amazing.

Obviously, the Russian stock market has lost half of it’s value. Who knew.

The price of oil is now below $100/barrel. If it goes below $85, the Iranian economy will crumble, but at current levels they will be feeling some pain.

The legacy of George Bush may actually get some credit based on a debacle not of his design.
Written By: Neo
URL: http://
Finally! Someone besides the Joooooos get blamed!
You forget who runs the financial market, obviously... :)
Written By: Scott Jacobs
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Finally! Someone besides the Joooooos get blamed!
Give ’em time. I’m sure they’re not done yet.
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