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Hailed as "the most dramatic and comprehensive account" of the early years of Russian capitalismNew York Times Book Review David Hoffman, former Moscow bureau chief for The Washington Post, sheds light onto the hidden lives of Russia's most feared power brokers: the oligarchs. Focusing on six of these ruthless men Hoffman reveals how a few players managed to take over Russia's cash-strapped economy and then divvy it up in loans-for-shares deals. Before perestroika, these men were normal Soviet citizens, stuck in a dead-end system, claustrophobic apartments, and long bread lines. But as Communism loosened, they found gaps in the economy and reaped huge fortunes by getting their hands on fast money. They were entrepreneurs. As the government weakened and their businesses flourished, they grew greedier. Now the stakes were higher. The state was auctioning off its own assets to the highest bidder. The tycoons go on wild borrowing sprees, taking billions of dollars from gullible western lenders. Meanwhile, Russia is building up a debt bomb. When the ruble finally collapses and Russia defaults, the tycoons try to save themselves by hiding their assets and running for cover. They turn against each other as each one faces a stark choice--annihilate or be annihilated. The story of the old Russia was spies, dissidents, and missiles. This is the new Russia, where civil society and the rule of law have little or no meaning. David E. Hoffman is Contributing Editor at the Washington Post and has been a journalist for 30 years. He came to Washington in 1977 to cover Congress, and later served as the Washington correspondent for the San Jose (Calif.) Mercury-News. He covered Ronald Reagan's campaign for the presidency in 1980, and was national economics correspondent for Knight-Ridder Newspapers. In 1982, he joined The Washington Post to cover the Reagan presidency. As a White House correspondent, he covered the major U.S.-Soviet summits of the Reagan years, including Geneva and Reykjavik, as well as domestic policy and politics. After Reagan left office, he covered the George H. W. Bush presidency. Later, he was diplomatic correspondent at the time the Soviet Union collapsed, and then served as Jerusalem correspondent, covering the Oslo peace accords. From 1995 to 2001, he served as Moscow bureau chief. His first book, based on reporting in Moscow, was The Oligarchs: Wealth and Power in the New Russia (PublicAffairs, 2002). On returning to Washington in 2001, he was Foreign editor and then Assistant Managing Editor for Foreign news, managing the Post's foreign service, until 2009.
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PAPERBACKISBN 978-1-58648-202-2 Pub date: 12/04/03 Price: $19.95/24.00 Canada 5-1/2X8-1/4 592 pages Carton Quantity: 16 History Selling Territory: WORLD Pub history:
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