Tag Archives: rusian stock market

The Great Kremlin Stock Market Coverup

The Kremlin is attempting to hide the stock market crash from the people of Russia, exactly the way the USSR would have done.  The Moscow Times reports:

As a wave of grim news swept in from global markets Monday, the MICEX halted trading a record three times, while the RTS shut down twice. The day still ended in a bloodbath, with both indexes plummeting about 19 percent.

But you wouldn’t know that from watching the evening news.

Instead of reports about the markets’ losses, the three main television channels — state-controlled Channel One, Rossia and NTV — showed billionaire Mikhail Fridman telling President Dmitry Medvedev that the global financial meltdown offered new opportunities for Russian companies abroad. “I am convinced that the Russian financial system is protected from such a fundamental shock to a greater degree than many other countries,” Fridman told Medvedev at the Gorky presidential residence outside Moscow.

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