European Firms Seek to Minimize Russia Sanctions - NYTimes.com
"European banks and businesses are far more exposed to the Russian economy than are their American counterparts.…"As a result, they have lobbied energetically to head off or at least dilute any sanctions, making it hard for American and European political leaders to come up with a package of measures with enough bite to influence Moscow’s behavior in Ukraine."
…Standard & Poor’s has downgraded Russian bonds. And we all know how fatal that is, right?
(From S&P’s web site: "Standard & Poor's Ratings Services provides high-quality market intelligence in the form of credit ratings, research, and thought leadership."
(Thought leadership. So there you go.)
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