Word: russianizing
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...first time this has happened, yet Wall Street still isn't getting the message. One August day nine years ago, Russian bonds defaulted. A surprising result of this default was the spectacular failure of Long-Term Capital Management (LTCM), a hedge fund in Greenwich, Conn. Surprising because LTCM had nary a penny in Russian bonds. They nearly took the global financial structure with them...
...seeing another improbable linkage. A number of hedge funds are failing; others are seeing returns plunge. Among these is Goldman Sachs's flagship Global Alpha Fund, which burned a quarter of its $10 billion value over the last few weeks. And just as LTCM was free of the Russian debt that precipitated its collapse, Global Alpha was not a player in subprime junk. Indeed, Global Alpha's problems have not come from mortgages at all, but from a portfolio of stocks...
...Besides diagrams of the latest in Iranian and Russian anti-tank rocketry, and an ultra-violent Hizballah special forces video game, the most impressive display is a plaque listing every single Israeli warplane that bombed Lebanon during the war along with their squadron ID and home bases. Not only did Hizballah survive the bombardment, but its observers still had the presence of mind to keep score. Not bad for 3,000 regular fighters up against a regional superpower...
...still too early to conclude that Chechnyan rebels were responsible for this bomb. The last train bombing in Russia occurred in June 2005, on a Grozny-to-Moscow train, but the perpetrators were an ethnic Russian Nazi group. Putin prepares to stand down once his second presidential tenure expires in May 2008. Kremlin insiders don't know who will succeed him, but throughout history, acts of terror have proven useful rationales to seize or hold on to power. The apartment bombings of 1999 helped make Putin president. A seizure of a school by terrorists in the city of Beslan...
...Island to report on the condition of its prisoners and left a tagline unlikely to be adopted by the tourist bureau - if there were one: "Now I have seen Sakhalin, which is hell." And this from an author famous for understatement. Exiled at the far eastern end of the Russian Federation, just north of Japan, Sakhalin Island was where imperial Russia once sent some of its most unfortunate convicts, on a journey that was usually one-way. In Soviet times it became a closed military base; site of the notorious shooting down of Korean Air Lines flight 007 after...