July 30, 2014

Wow! Did someone from Kremlin infiltrate the Basel Committee for Banking Supervision to seed bad advice?

Sir Courtney Weaver and Kathrin Hille report from Moscow that “Yevgeny Fyodorov, a deputy for the pro-Kremlin party United Russia… claimed US consulting and audit firms were working under the orders of their governments and could cause ´real damage´ to the Russian state by purposefully giving out bad advice.” “Duma hits back with proposal to ban Big Four auditing firms”, July 30.

Oh boy! That is precisely what I, in jest, implied in a blog of many years ago, when I suggested that a disappointed and revenge wanting Kremlin retiree, Carlos Molotov Pavlov, had infiltrated the Basel Committee for Banking Supervision in order to seed advice that would bring down the banking system of the west.