Comments on: The Open Trial that Wasn’t

By: Lyndon

Lyndon — Thu, 20 Nov 2008 23:50:19 +0000

…you’ve reminded me that I should probably make some sort of announcement.

Just lookin’ out for your relationship with your readers. Let me know if you ever need a PR manager to help with this kind of thing… anyway, congrats, I’m sure it will be an interesting discussion.

By: Tim Newman

Tim Newman — Thu, 20 Nov 2008 21:36:55 +0000

On the actual banks going bankrupt, I was under the impression that Russia has literally hundreds of banks…

Over 5,000 I have been told by somebody working in the Russian banking sector, most of them tiny outfits formed in the 90s and named after a village of a dozen people. One or two of these on Sakhalin have gone under recently.

Even the major Russian banks are pretty awful though. An ATM card doesn’t come as standard with an account (or at least on Sakhalin), and you get charged 1% commission for using it. The bank’s recommended method of withdrawing cash is for you to queue up for 2 hours with your passport, visiting several counters and having lots of papers stamped. And internet banking is unheard of.

By: Aleks

Aleks — Thu, 20 Nov 2008 20:08:40 +0000

An interesting point about accusing the media of hyping up the crisis and making people panic.

As someone who listens a lot to the world’s best propaganda (BBC), BBC reporters themselves and economic experts have more than a few times been asking whether media hype is playing an important role in creating panic/worry. I always wonder how far perception becomes as important as reality which in the current crisis is particularly bad as we still don’t really know how far sub-prime has gone…

As to the trial, I get the impression that either someone got cold feet or that basic PR is still not taught or understood by government officials, i.e. consistency and keep one’s own speculation, opinion or guesses
to one’s self. If the trial was never supposed to be public, how could such an official be so off message?

On the actual banks going bankrupt, I was under the impression that Russia has literally hundreds of banks, something that might have been sustainable at a very local level, but clearly not for anything more. Will these bankruptcies force a major rationalization (modernization) in the Russian banking system with very few small banks just a few biggies???

By: Sean

Sean — Thu, 20 Nov 2008 16:40:55 +0000

Lyndon, you’ve reminded me that I should probably make some sort of announcement. I don’t know if they’re planning to film the event. If they are, I hope they don’t tell me.

By: Chris Von Doom

Chris Von Doom — Thu, 20 Nov 2008 15:32:13 +0000

Huh? Who’s this Guillory guy?

By: Lyndon

Lyndon — Thu, 20 Nov 2008 15:22:41 +0000

Sean, sorry for going off-topic, but will there be any way for your online fans and colleagues to watch video from this event? I'm sure that many inquiring minds who frequent the comments section here will want to know.

By: Chris Von Doom

Chris Von Doom — Thu, 20 Nov 2008 12:59:15 +0000

The some people expect the Russian government to do the opposite, which is the problem. Anything the RG does will be interpreted in that light.

Anyway, isn’t fearful jurors supposedly one problem with closure of the Khlebnikov case? God knows I wouldn’t want to be a juror or judge in a high-profile case with likely mafia connections.

By: Tim Newman

Tim Newman — Wed, 19 Nov 2008 21:28:53 +0000

The funny thing is that the same people who think there is a government hand in the court’s closing are the very same people who would blame the government if a juror was threatened, or worse, ended up dead.

Some people expect the Russian government to dispense justice openly and uphold law and order?!! The cheek of them!