Western critics: Khodorkovsky stole Yukos fair and square

March 28, 2007

Russia, through its energy company Rosneft, has started to recover the multibillion-dollar oil company YukosYukos that was stolen from it in the mid-90s. It is buying the assets in auctions. Indignant protests are heard from westerners.

Funny there was no indignation from western officials when Mikhail Khodorkovsky and other oligarchs, with the help of crooked President Boris Yeltsin, were appropriating Russian national oil and mineral wealth for kopeks on the ruble.

A Khodorkovsky company ran an auction at which a Khodorkovsky shell company won Yukos, paying $309 million for a controlling 78 percent. Months later, Yukos traded on the Russian stock exchange at a market capitalization of $6 billion.

Offshore Scorecard: NY Times gets the headline wrong

March 25, 2007

Swiss travel the world to help mega-rich evade taxes

The NY Times headline yesterday said, “Discreet Swiss Banks Now Offering Sophisticated Investment Vehicles.” Swiss Further down, the story noted that Geneva has becomes an “aggressive haven for the global elite.” And, “Now the Swiss can be found throughout the world, selling more sophisticated investment vehicles to attract high-net-worth individuals, mostly multimillionaires.”

So what is the real story about? The headline should have been, “Discreet Swiss travel the world to help the mega-rich evade taxes.”
How else has bank-secrecy Switzerland, with only 7.5 million people, become the third-largest asset manager in the world, after the United States and Britain, with global banking assets under management of $5.5 trillion?

“Shady money” photography prize

March 2, 2007

A UK photographer just sent The Scoop this email about The Photographers Gallery in London. He says:

The Deutsche Borse Deutsche photography prize, formerly the Citibank photography prize, is perhaps the most prestigious and important photography prize and one of the most important art prizes. Those who win become name photographers/artists, and their work becomes literally over night very valuable, exchanging hands for many thousands of dollars.

With the women at Houston: feminism as national politics

  Lucy Komisar covered the women’s convention in Houston and wrote about it for The Nation, December 10, 1977. (text version is below)         WITH THE WOMEN AT HOUSTON: FEMINISM AS NATIONAL POLITICS LUCY KOMISAR The blue and green bunting, the state delegation signs, the three-cornered hats that said Free D.C., the […]

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