Sergei Magnitsky

Of Russia Baiters And Putin Haters

"If America stumbles into a war with Russia that all our Cold War presidents avoided, the Russia baiters and Putin haters will be put in same circle of hell by history as the idiot war hawks of 1914 and the three blind men of Versailles in 1919."

No Longer Quiet On The Eastern Front (Part 3)

The Middle East’s ongoing descent into chaos and China’s impending ascendancy to the status of global superpower are just two of the many threats that the US, European Union and Russia all share.  Each of these issues should certainly occupy a higher position on their respective agendas than the breakup of Ukraine or the insolvency of Greece.  Leaders of all three governments would be well-advised to set aside their differences, or at least to prevent those differences from obstructing cooperation on more important issues.  Unlike its predecessor, the Second Cold War will not be bilateral.  Today’s world is far more chaotic, kinetic and dangerous than it was fifty years ago.

John McCain Strikes Back With Pravda Op-Ed, Slams Putin, Says "Russians Deserve Better"

"When Pravda.ru editor, Dmitry Sudakov, offered to publish my commentary, he referred to me as "an active anti-Russian politician for many years." I'm sure that isn't the first time Russians have heard me characterized as their antagonist. Since my purpose here is to dispel falsehoods used by Russia's rulers to perpetuate their power and excuse their corruption, let me begin with that untruth. I am not anti-Russian. I am pro-Russian, more pro-Russian than the regime that misrules you today. I make that claim because I respect your dignity and your right to self-determination. I believe you should live according to the dictates of your conscience, not your government. I believe you deserve the opportunity to improve your lives in an economy that is built to last and benefits the many, not just the powerful few. You should be governed by a rule of law that is clear, consistently and impartially enforced and just. I make that claim because I believe the Russian people, no less than Americans, are endowed by our Creator with inalienable rights to life, liberty and the pursuit of happiness..."

Money Laundering Exposed As A Key Component Of The Housing Bubble's "All Cash" Bid

In August 2012, when isolating one of the various reasons for the latest housing bubble, we suggested that a primary catalyst for the price surge in the ultra-luxury housing segment and the seemingly endless supply of "all cash" buyers (standing at an unprecedented 60% of all buyers lately as reported by Goldman) is a very simple one: crime. Or rather, the use of US real estate as a means to launder illegal offshore-procured money. We also identified the one key permissive feature which allowed this: the National Association of Realtors' exemption from Anti-Money Laundering provisions. In other words, all a foreign oligarch - who may or may not have used chemical weapons in their past: all depends on how recently they took their picture with the Secretary of State - had to do to buy a $47 million Florida house, was to get the actual cash to the US. Well good thing there are private jets whose cargo is never checked. It appears that a year later this too hypothesis has been proven. Earlier today the Post reported that "U.S. authorities announced Tuesday that they are seeking forfeiture of pricey Manhattan real estate linked to a fraud they say was uncovered by a whistleblowing Russian lawyer before he died behind bars. A civil forfeiture complaint filed against the assets of a Cyprus-based real estate corporation and other holding companies alleges that some of the proceeds from the $230 million tax fraud in Russia were laundered through the purchase of four luxury condominiums located in a Wall Street doorman building and two commercial spaces in prime locations in midtown and Chelsea."

The Hermitage Saga Turns Tragic As Fund Lawyer Dies In Jail

The saga of Hermitage Capital, whose clip highlighting its recent plight we posted previously, has just taken a turn for the sad and surreal. The WSJ reports that 37 year old Sergei Magnitsky, Hermitage's lawyer has died in custody. As a reminder Sergei was arrested in November of 2008: "Sergei Magnitsky, a legal and accounting adviser for Moscow-based
law firm Firestone Duncan, was detained Monday [November 24th] after a raid on his home
and police issued a formal warrant for his arrest two days later, said
Bill Browder, chief executive officer of Hermitage Capital Management."