Game vouchers. “People’s capitalism” were almost no people

To blame Chubais?

“Up to this moment hidden privatization went on for several years, — says historian and political scientist Sergei Stankevich, and then the adviser of President Boris Yeltsin. — The company copied all of their Director, and took away finished products, revenues from the sales and fixed assets. And encumbrances — for example, kindergartens and schools — left the state. But it was a grey scheme, it was necessary to introduce the process in a legal channel”.

“In 1991 the Supreme Soviet adopted the law “On personal privatization accounts and deposits”, — says economist Andrew Bunich. — With a clear and elaborate scheme, the analogues which were then implemented in the former socialist countries. Every citizen has opened a personal privatization account for 14 thousand rubles. To these accounts was tied personal privatization checks. The account can be used for the purchase of shares, real estate, car. But then came Chubais, who said that the free privatisation is nonsense, it should be carried out for money.”

Had to replace the head of the state property Committee because the group of influential MPs and Ministers, the old scheme hurt “prihvatizirovat” the state. “But in less than a year, as Chubais “suddenly” suggested a return to the idea of free privatization, pushing prepared in a hurry Yeltsin’s decree, recalls Bunich. — Haste is haste, but everything you need to disguised as a reform of fraud in the decree were: an unnamed checks, check funds, the actual suspension of labor collectives from privatization and benefits for Directors. Voucher privatization “Chubais” was the birth trauma of our market economy, mine under the right to private property, depriving her of the law.”


To blame Chubais: 10 facts about the father of Russian capitalism

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“Khoper” and others

“Chubais” the post-Soviet economy was estimated at $ 100 billion., or 1 trillion 400 billion rubles Figure gave the latest assessment of the carrying value of Soviet enterprises, which was conducted in 1984 of this amount took a 35% share of state property has decided to transfer to the people — divided on the entire population and received the voucher value 10 thousand. “Here’s a simple arithmetic calculation. It was a fairly arbitrary figure,” — said Stankiewicz. The voucher can be sold on the black market, to invest in a voucher Fund, or to exchange for shares of enterprises. 34% of Russians, according to statistics, chose the first sale, although the promised Chubais cost of two “VOLG” privatization check was never reached: first, gave him $ 40., then 10 and 5. 25% of citizens gave the checks in various funds — the “hopper”, “Tibet” etc. they put them in stocks, take under their mortgage loans and result accrue to stakeholders. Schemes were many, but the end — of the funds went bankrupt and left those who trusted, with anything.

Andrei Illarionov: the Reformers ‘ 90s deliberately ruined the economy of the country

Make a fortune on privatization, according to experts, could only “red Directors”, the members of the party elite and organized crime. “First adapted by those who had experience of working in the shadow economy, — says Sergey Stankevich. The purchase of vouchers was their favorite pastime. The authorities had practically daily to follow the work of organizations related to privatization, but this has not been done.”

Was not necessary laws, therefore check funds and other participants of privatization acted uncontrollably and with impunity. “Legal vacuum is characterized by the fact that the law on privatization was adopted in 1997, whereas she concluded on 30 Mar 1994!” notes A. Bunich.

In these circumstances, the Russians who invested their vouchers in Russian companies, as their shareholders (and there were about 15%) was virtually powerless. They share compulsorily redeemed or the cost of “smeared” through the issuance of additional securities. Especially often used such methods of squeezing out small shareholders and raw material processing companies. Today, the number of invested vouchers in the company’s shareholders be only 3-4%.

“Three vouchers, our family exchanged for shares of the Fund, then burned, and three more on the action “Gazprom”, — said the “AIF” Sergey Zhuravlev, senior expert of the Institute. Gaydar. At the peak, in 2008, our package cost 1.5 million rubles., now a few less. Dividends are paid little (7,8 RUB per share. — Ed.) but the stocks were of considerable value. Let a little while.”

Vouchers was the piece that threw people from the master’s table. The main privatization took place without the participation of citizens, but with the same huge number of violations (see “the Way”). Only bet in that game was much higher.

Twenty years voucher. Who where his Affairs

How was mortgaging auctions

From the report of the accounting chamber “Analysis of processes of privatization of state property in the Russian Federation for the period 1993-2003”.

A consortium of commercial banks in the “Imperial” Inkombank, ONEKSIMBank, Capital Bank of savings, “Menatep” and Bank “international financial company” “in fact, credited the state of public money. The Finance Ministry had previously placed in Bank accounts… funds in the amount almost equal to the loan and then the money was transferred to the Government as a loan secured by shares of the most attractive enterprises. As a result, banks “lend” the state could directly or through affiliated entities become the owners are in the pledge of stakes in state-owned enterprises.”

PS: is it Possible to help those who invested their voucher in the “Tibet” and “Khoper-invest” and others check funds? “To seek compensation by contacting the police will not be able — Statute of limitations — said the lawyer Oleg Sukhov. — A civil action does not make sense: the crooks, who organized the funds, is unlikely to show up the property on which it is possible to impose a penalty”.

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