Tainted Transactions

How a team of Cambridge operators, working together with a Russian "clan", confused all categories and wreaked havoc on Russia's economy.

Issue: Spring 2000

Only a few years ago, American policymakers were confidently
predicting that a regimen of privatization and market reform would in
due course transform Russia into a stable and prosperous democracy.
America would smooth this transition and U.S. aid--unselfish and
urgent--would serve as a "bridge", enabling representatives from both
sides to implement their respective agendas. Pictures of "Bill" and
"Boris" embracing and beaming at the camera symbolized the promise of
a new era in U.S.-Russia relations, one that bore little resemblance
to the preceding decades of Cold War acrimony.

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