Zeev's Turnips Patch-No Politics (ZEEV)

[marketmaven]

Yukos collapse will kick out the average mutual fund holder who needs to pay for bills with "stock market profits"...

Follow-up on Yukos : As a follow-up to the 9:21 comment, the A.P. reports that Russia's Justice Ministry said today that it had revoked permission granted by ministry bailiffs for Yukos to use previously frozen funds to pay for day-to-day operations. The ministry said the communication Yukos received Wednesday from the bailiffs was not "based on legal norms," and that "All funds that have come onto the company's accounts or will come onto the company's accounts will be arrested and transferred to the budget as payment for the debt." Troika Dialog analyst Kakha Kiknavelidze said that the swift about-face was indicative of a split in the govt over Yukos and its fate. "It suggests there are internal tensions in the govt. This clearly comes out in public in the form of decisions being reversed."