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murfmonkey 's review for:
4.5 stars.
Wow. So many thoughts about this book. I think I got it on an audible deal of the day because I'm not really into books about finance and stuff like that, but once the Russian authorities get involved this book gets very interesting. Some thoughts in no particular order:
1. Bill Browder is a good man to have on your side. After Mr. Browder is summarily deported from Russia, at the time he has no idea why, he and his staff inside Russia (he runs a wildly successful hedge fun in Russia) slowly realize that the Russian authorities are after him, mainly because he has been so successful, and after anyone associated with him. He describes the process of getting his close staff—at least the ones who were under threat from the Russian authorities—out of Russia. He is successful in this, with the exception of one lawyer, Sergei, who sees no need to leave because he is a law-abiding tax attorney, which he was, and which also eventually led to his imprisonment, torture, and death (yeah, this is Russia).
2. The sheer enormity of the corruption that went on in post-Soviet Russia, and now in Putin's Russia, is breathtaking, even to Russians, and that is saying something.
3. Mr. Browder, in order to explain the Russian psyche about "success" tells the story of a Russian who is given one wish, whatever he wants. He imagines a magnificent dachau in the forest, a vacation resort on the Black Sea, unlimited money. The wish granter reminds him, "Oh, but don't forget. Whatever you receive, your neighbor will receive double!" The Russian's response is, "Well in that case, poke one of my eyes out." Mr. Browder uses this story to illustrate the Russian psyche that really does not like to see another man succeed, and indeed, will hurt himself in order for that person not to succeed. If he didn't go on to explain how some of the Russian billionaires took exactly that approach with him, I wouldn't have believed it, but they did.
4. The story of the lawyer, Sergei, is heart-breaking. He should have left Russia, but he felt that he was in no danger at all. All he was doing was exposing rampant corruption that was illegal. Unfortunately, for him, Putin and the Russian authorities are involved in the corruption. He is arrested and the authorities basically keep making his life worse and worse, trying to get him to withdraw his accusations of corruption. The worse they make his life, the more strongly Sergei resists any withdrawal of his complaints. He is eventually beaten to death.
5. The story of how Mr. Browder goes about rectifying Sergei's death is quite interesting because it is basically him against all the power of the Russian state. Mr. Putin even gets personally involved as Mr. Browder seeks to get a law passed which would not allow the 60 people involved in Sergei's death to enter into the United States. He eventually succeeds in getting the law passed, even though John Kerry, Hillary Clinton, and the Obama administration, do not come off very impressively.
6. Mr. Browder has a fascinating comment when the bill finally does become law. He writes:
"There was something almost biblical about Sergei's story, and even though I am not a religious man, as I sat there watching history unfold, I couldn't help but feel that maybe God had intervened in this case. There is no shortage of suffering in this world, but perhaps Sergei's story cut through as few tragedies ever do."
Here is the thing. Apart from God, there will be no ultimate justice for the 60 people who were complicit in Sergei's torture and murder, including Mr. Putin. The fact of the matter is that they "got away" with it, even though they won't be able to travel to the United States any time soon. Christian theology understands that those 60 people will not get away with murder because they will ultimately stand before the sovereign judge of the universe and give account for Sergei's death. It is comforting to me to know that ultimate justice will eventually prevail.
7. Finally, Mr. Browder made a fortune investing in Russian companies after the fall of the Soviet Union for himself and the clients in his hedge fund. In the process he bought what are essentially shares in these companies from the public for what amounted to pennies on the dollar. This was all completely legal, but one wonders how ethical it was. Mr. Browder doesn't spend one second of this book wondering if he enriched himself by taking advantage of ordinary Russians. I'm sure Mr. Browder would argue that nothing that he did was illegal and it was all accepted business practices, which, to my way of thinking, is part of the problem. Could he not have informed ordinary Russians of the potential financial gain to be had. Could he not have worked for their financial good? We don't know because he never asks that question. This is a great loss, I think.
A very good, thoughtful, sad, thought-provoking book.
Wow. So many thoughts about this book. I think I got it on an audible deal of the day because I'm not really into books about finance and stuff like that, but once the Russian authorities get involved this book gets very interesting. Some thoughts in no particular order:
1. Bill Browder is a good man to have on your side. After Mr. Browder is summarily deported from Russia, at the time he has no idea why, he and his staff inside Russia (he runs a wildly successful hedge fun in Russia) slowly realize that the Russian authorities are after him, mainly because he has been so successful, and after anyone associated with him. He describes the process of getting his close staff—at least the ones who were under threat from the Russian authorities—out of Russia. He is successful in this, with the exception of one lawyer, Sergei, who sees no need to leave because he is a law-abiding tax attorney, which he was, and which also eventually led to his imprisonment, torture, and death (yeah, this is Russia).
2. The sheer enormity of the corruption that went on in post-Soviet Russia, and now in Putin's Russia, is breathtaking, even to Russians, and that is saying something.
3. Mr. Browder, in order to explain the Russian psyche about "success" tells the story of a Russian who is given one wish, whatever he wants. He imagines a magnificent dachau in the forest, a vacation resort on the Black Sea, unlimited money. The wish granter reminds him, "Oh, but don't forget. Whatever you receive, your neighbor will receive double!" The Russian's response is, "Well in that case, poke one of my eyes out." Mr. Browder uses this story to illustrate the Russian psyche that really does not like to see another man succeed, and indeed, will hurt himself in order for that person not to succeed. If he didn't go on to explain how some of the Russian billionaires took exactly that approach with him, I wouldn't have believed it, but they did.
4. The story of the lawyer, Sergei, is heart-breaking. He should have left Russia, but he felt that he was in no danger at all. All he was doing was exposing rampant corruption that was illegal. Unfortunately, for him, Putin and the Russian authorities are involved in the corruption. He is arrested and the authorities basically keep making his life worse and worse, trying to get him to withdraw his accusations of corruption. The worse they make his life, the more strongly Sergei resists any withdrawal of his complaints. He is eventually beaten to death.
5. The story of how Mr. Browder goes about rectifying Sergei's death is quite interesting because it is basically him against all the power of the Russian state. Mr. Putin even gets personally involved as Mr. Browder seeks to get a law passed which would not allow the 60 people involved in Sergei's death to enter into the United States. He eventually succeeds in getting the law passed, even though John Kerry, Hillary Clinton, and the Obama administration, do not come off very impressively.
6. Mr. Browder has a fascinating comment when the bill finally does become law. He writes:
"There was something almost biblical about Sergei's story, and even though I am not a religious man, as I sat there watching history unfold, I couldn't help but feel that maybe God had intervened in this case. There is no shortage of suffering in this world, but perhaps Sergei's story cut through as few tragedies ever do."
Here is the thing. Apart from God, there will be no ultimate justice for the 60 people who were complicit in Sergei's torture and murder, including Mr. Putin. The fact of the matter is that they "got away" with it, even though they won't be able to travel to the United States any time soon. Christian theology understands that those 60 people will not get away with murder because they will ultimately stand before the sovereign judge of the universe and give account for Sergei's death. It is comforting to me to know that ultimate justice will eventually prevail.
7. Finally, Mr. Browder made a fortune investing in Russian companies after the fall of the Soviet Union for himself and the clients in his hedge fund. In the process he bought what are essentially shares in these companies from the public for what amounted to pennies on the dollar. This was all completely legal, but one wonders how ethical it was. Mr. Browder doesn't spend one second of this book wondering if he enriched himself by taking advantage of ordinary Russians. I'm sure Mr. Browder would argue that nothing that he did was illegal and it was all accepted business practices, which, to my way of thinking, is part of the problem. Could he not have informed ordinary Russians of the potential financial gain to be had. Could he not have worked for their financial good? We don't know because he never asks that question. This is a great loss, I think.
A very good, thoughtful, sad, thought-provoking book.