It proved so damaging mainly because Mr Chubais's own sharp insistence on high standards in public life required him to be above suspicion himself.

ECONOMIST: The humbling of Chubais | The

When Citigroup, Merrill Lynch and UBS, which have invested millions of dollars in risk management, can give the market nasty surprises, who can be above suspicion?

ECONOMIST: The ECB dishes out ??350 billion