Re: Russia Steps in to Aid Banking Crisis

[Chris Doss <lookoverhere1@xxxxxxxxx>]

Well, it is the only real macho bank stuffed full of
real money waiting to be spewed out into the world. :)
The rest are more of articifial receptacle banks.

Russia has thousands of little pocket "banks."
Sperbank, Alfa Bank and CitiBank are the only "real"
ones, as far as I know. (Not meaning to pretend to be
an expert on the Russian banking sector.) Cutting down
the number of "banks" and increasingly the
availability of loans is a reform repeated called for
by the government, but not yet implemented much. One
problem in the Russian economy is that it is virtually
impossible for people in the "middle class" to get
loans, because then they would have to disclose their
full incomes... which most people earn in the shadow
economy off the books. So they can't get loans for
starting small businesses and whatnot.

--- "Devine, James" <jdevine@xxxxxxx> wrote:
> lemme guess, Spebank is a sperm bank?
> ;-)
>
> Jim Devine jdevine@xxxxxxx
> http://bellarmine.lmu.edu/~jdevine
>
> ________________________________
>
> From: PEN-L list on behalf of Chris Doss
> Sent: Tue 7/13/2004 2:50 AM
> To: PEN-L@xxxxxxxxxxxxxxxx
> Subject: Re: [PEN-L] Russia Steps in to Aid Banking
> Crisis
>
>
>
> I think calling this a "banking crisis" is overdoing
> it. Almost none of these "banks" are much more than
> laundrettes, and few Russians have bank accounts
> anyway -- they keep their saving in cash. When
> something happens to Sperbank, I'll start worrying.
>
>
>
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