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After a spectacular devaluation and default, what's a country to do? The answer from Russia's new central banker, VIKTOR GERASHCHENKO, is to print money, and lots of it. Printing presses are said to have been rolling for days, cranking out billions of nearly worthless rubles. Just how many have been printed is a state secret, but BORIS NEMTSOV, the 38-year-old (recently retired) Deputy Prime Minister, puts the figure at "between 9 billion and 12 billion rubles" (some $600 million to $800 million). Officially, the central bank only admits to printing "less than 1 billion" rubles...
After a spectacular devaluation and default, what's a country to do? The answer from Russia's new central banker, Viktor Geraschenko, is to print money, and lots of it. Printing presses are said to have been rolling for days, cranking out billions of nearly worthless rubles. Just how many have been printed is a state secret, but Boris Nemtsov, the 38-year-old (recently retired) deputy prime minister, puts the figure at "between 9 billion and 12 billion rubles" (some $600 million to $800 million). Officially, the central bank only admits to printing "less than 1 billion" rubles...
...days since Chernomyrdin's re-appointment, Berezovsky has been just as busy. Chernomyrdin's aides say the banker has been negotiating on the PM's behalf with a number of Duma factions, including the communists, whose support is essential to the Prime Minister's confirmation but whose demands clash with the preferences of the tycoons. This time, supporters of Berezovsky say he would like a high post in the government for himself...
Viktor Aksyuchits, an aide to former Vice Prime Minister Boris Nemtsov and one of Berezovsky's most outspoken critics, claims that the banker succeeded, as he has so often done before, by gaining intimate access to Yeltsin's closest advisers, chief of staff Valentin Yumashev and younger daughter Tatyana Dyachenko. Yumashev is a "wholly privatized" Berezovsky subsidiary, says Aksyuchits, and Dyachenko is allegedly beholden to Berezovsky for his handling the family's finances and making generous contributions to her father's re-election. Both advisers have for several months been privately urging Yeltsin to stand down, Aksyuchits tells TIME: "They...
Bowie grabbed $55 million that way in the first bond deal of its kind. Since those "Bowie bonds," there has been much hype about entertainers eager to cash in their estate before it actually exists, but few deals have been cut. That's about to change. David Pullman, the banker behind the Bowie deal, closed three more celebrity-bond deals in July. Altogether he raised $30 million for the Motown writing trio of Edward and Brian Holland and Lamont Dozier, whose hits include Stop! in the Name of Love and Baby I Need Your Loving. To date, Pullman's deals...