The Russian Debt Crisis

I got involved in Russia starting in about 1994. Interest rates were a thousand percent and it really was not quite the Wild West but the Wild East. When I first went to Moscow, there were no Monyon signs anywhere. And it's really quite remarkable the evolution that Russia went through after that. So we had this tremendous mandate. We worked with the Prime Minister's office and did some fantastic things. And so we were really quite well positioned in Russia all the way up until the crisis in 98 in the default in August 98.