Russian Bank Scandal :: essays research papers

On October 6, 1999 the news hour with Jim Lehrer air a focus topic called Following the Money. This focus discussion dealt with the Russian fix Scandal. This soil deals with the transfer of about seven jillions dollars out of the Bank of New York to companies with Russian associations. Robert OHarrow , a banking expert for the capital of the United States Post, believes that this scandal leave become a effective policy issue. groundwork on his conclusion of this becoming a serious problem, one whitethorn manipulate that there are problems in the banking structure of the United States. In fact there has to be a problem when seven billion dollars of transions are made to foreign soils and no one throws up a red flag. One may also conclude that this scandal reaches notwithstanding that the banking structure. The question must be ask, Where is all this currency coming from? This currency could be money that was given by the International Monetary computer storage to help rebu ild the fallen Russian economy. That money could immediately be being used to support criminal activities. As we see now this could be not only an international problem, but a interior(prenominal) problem also. In todays warfare the victor is left field in make the fallen enemy. In this case the United States win the cold war and is now left to pay the bill for rebuilding Russia. The money that is being use comes directly from taxpayers. I believe that this is the fountain why Mr. OHarrow believes this will exact a serious effect on policy decision. If the money that is supposed to help the Russian people is being for wrongdoing and the Russians are behind this, the scandal could have a serious effect on U.S. and Russian relations. Policy makers will be force to make changes in the methods it helps Russian during this time of need. This scandal can be serious external triggering mechanism. With the scandal dealing generally with belief that international money is being used t o support irregular activities could cause a major shift in decision making. At the moment the Intensity of this problem has not reach a take of alert. Mainly become most American do not see the potential backlash of this scandal. Once the facts come out and taxpayers are forced to tote the bill of paying back the lost funds consequently the matter will intensify. Also American can grow devolve of given money to a country that does no use money for reasons the money was given to them.