On the recordApril 15, 1999
last year the Russians begged the International Monetary Fund and our Nation for further assistance. We provided up to $4.8 billion that was supposed to go to economic stabilization, but most of the $4.8 billion disappeared into the secret bank accounts of corrupt Russian officials who control Russia. Robert Novak writes in this week's newspaper, ``The monetary support for the country's currency allowed members of the Russian power structure to convert personal holdings into dollars. In that way, a substantial amount of the IMF funds ended up in numbered Swiss bank accounts.'' Now the Russians are begging for another $5 billion of U.S. taxpayer-backed loans and the Clinton administration is holding out the IMF carrot for Russia's help in dealing with Serbia. U.S. taxpayers' money should never be risked in these foreign loan misadventures that go directly into the pockets of the most corrupt.
Source
govinfo.gov
