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Nov 20, 2008

Russia banks to be barred from state rescue package for loan abuse

Russian banks that have received state loans during the current financial crisis but converted them into U.S. dollars will be barred from the government's rescue package, First Deputy Prime Minister Igor Shuvalov said on Thursday.

The move comes after Prime Minister Vladimir Putin said earlier this month that some banks had transferred government bailout money to offshore accounts instead of giving it to the intended recipients.

President Dmitry Medvedev said on Tuesday as the financial crisis deepened that the government could spend more than the previously planned $200 billion on stabilization measures.

Read full story from en.rian.ru

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Stefanya

“Hope for Best- Expect Worst”

Joined: Jan 2, 2007

Comments: 33442

Somewhere in Colorado

ISP: Rifle, CO

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#1
Nov 20, 2008
 

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Putin is doing the right thing...why should banks who took the money, converted it to dollars and hid it off shore get part of the bail-out....They do not deserve it....
Rod Schulz

“Crush no one in ceramics”

Joined: Sep 27, 2008

Comments: 1260

Den Haag, Netherlands

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Nov 20, 2008
 

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Stefanya wrote:
Putin is doing the right thing...why should banks who took the money, converted it to dollars and hid it off shore get part of the bail-out....They do not deserve it....
You are a grievously lecherous scoundrel and a fiendish, enema-addicted object of execration.
Jazz singer

UK

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#3
Nov 21, 2008
 
Putin promises to punish speculators; so far nothing wrong with that.
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