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The Bailout Was a Wealth Transfer Scheme

The Emergency Economic Stabilization Act of 2008 created the $700 billion bailout (plus $100 billion in add-ons) Troubled Assets Relief Program (TARP), a wealth transfer scheme so brazen as to leave one breathless. Another Fed bubble had popped; losses in the real estate mortgage meltdown were real; they had already taken place. The only real question was who would be made to eat those losses: the investment banking community that earned millions in fees each year in the debacle and their offspr...

Putin tells Russians he's here to stay

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Prime Minister Vladimir Putin said on Thursday he would not leave Russian politics any time soon, telling a questioner asking about his departure: Do not hold your breath.
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Putin sees France's Total in new projects in Russia

Total emerged as Russia's favoured energy partner on Wednesday, with Prime Minister Vladimir Putin inviting the French major to take part in some of its largest gas projects after meeting its chief executive.
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Putin to meet Total, Novatek heads on Wednesday

The heads of French oil major Total and Russia's second biggest gas producer, Novatek, will meet Prime Minister Vladimir Putin on Wednesday, which may be a precursor to a deal between the two.
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Rigging charges mar Medvedev's ascent; Putin's power bolstered

A study carried out by a Russian physicist and computer programmer suggests that president-elect Dmitri Medvedev has won the polls by rigging the votes even as Russia's President Vladimir Putin's powers have been boosted by his decision to lead Russia's biggest political party, United Russia after stepping down as Kremlin leader next month.
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NATO Undecided on Expansion Plans

NATO concluded the first day of annual summit meeting on a factious note, after allies refused to open membership doors to Ukraine and Georgia, on fear of a potential conflict with Russia.
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Bush and Yushchenko Discuss Ukraine's Stand in Nato

U.S. President George Bush met with Ukrainian President Viktor Yushchenko in Kiev on Tuesday ahead of the NATO summit in Bucharest, Romania on 2-4 April to discuss NATO enlargement and operations in Afghanistan and Kosovo.
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Western observers criticize Russian election

Western observers criticized Russia's weekend presidential election on Monday saying it was not fully fair or democratic, but said its outcome broadly reflected the will of the people. President Vladimir Putin's hand-picked candidate, Dmitry Medvedev, won the ballot by a landslide on Sunday. Russia's liberals criticized the election as a farce, saying it was stage-managed by the Kremlin from the outset.
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Putin may become Gazprom chairman

President Vladimir Putin may become the next chairman of Russian gas export monopoly Gazprom when he steps down following a presidential election in March, Vedomosti business daily reported on Friday.
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Russia's Medvedev backs Putin to become PM

Dmitry Medvedev, named by Russian President Vladimir Putin as his preferred successor, said on Tuesday he wanted Putin to become prime minister under him, mapping out a route for the outgoing leader to retain influence.
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Putin loyalists to hold sway in Russia parliament

President Vladimir Putin's supporters will enjoy complete control over Russia's next parliament, a tally from Sunday's election showed, giving him a solid power base after he leaves the Kremlin.
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Putin scores big win

President Vladimir Putin's party won a big majority in Russia's election on Sunday, but the opposition alleged fraud and vowed to contest a result that could help Putin keep a hold on power after he leaves office.
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Putin party set for crushing election win: poll

President Vladimir Putin's United Russia party will win an overwhelming majority in a parliamentary election on December 2 and only one other party will get enough votes to join it, according to a poll on Wednesday.
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Russia's Putin slams NATO muscle-flexing

President Vladimir Putin on Tuesday warned that Moscow would not remain indifferent to NATO's muscle-flexing and said Russia's nuclear forces would be ready for an adequate response to any aggressor.
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Putin says December poll will give him more clout

President Vladimir Putin said on Tuesday he expected a parliamentary election on December 2 to give him a moral right to influence Russian politics after he steps down from his Kremlin post next year.

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