The Oligarch Rescue Plan
The Financial Times is running a story tonight about an $87 billion bailout plan by the Russian government to ease the fall of some of the country’s most wealthy and overleveraged men – allowing the government enormous power to determine the winners and losers of the financial crisis. It occurs to me that there is only one (former) oligarch who needs rescuing – and he is the only one whose rescue is proven to boost the stock markets. Liquidity may be short in Russia this month, but irony is not. More details from the report after the cut.