Coordinates	57°49′″N28°20′″N
company name	Reuters
company logo
company type	Subsidiary
foundation	October 1851
location	London, United Kingdom
industry	News agency
owner	Thomson Reuters
homepage	www.reuters.com
footnotes	}}

Reuters () is a global news agency headquartered in London, United Kingdom owned by Thomson Reuters.

Until 2008 the Reuters news agency formed part of an independent company, Reuters Group plc, which was also a provider of financial market data. Since the merger between Reuters Group and The Thomson Corporation the Reuters news agency has been a subsidiary of Thomson Reuters, forming part of its Markets Division.

History

Paul Julius Reuter noticed that, with the electric telegraph, news no longer required days or weeks to travel long distances. In the 1850s, the 34-year-old Reuter was based in Aachen – then in the Kingdom of Prussia, now in Germany – close to the borders with the Netherlands and Belgium. He began using the newly opened Berlin–Aachen telegraph line to send news to Berlin. However, the telegraph did not extend the to Brussels, Belgium's capital city and financial center. Reuter saw an opportunity to speed up news service between Brussels and Berlin by using homing pigeons to bridge that gap.

In 1851, Reuter moved to London. After failures in 1847 and 1850, attempts by the Submarine Telegraph Company to lay an undersea telegraph cable across the English Channel, from Dover to Calais, promised success. Reuter set up his "Submarine Telegraph" office in October 1851 just before the opening of that undersea cable in November, and he negotiated a contract with the London Stock Exchange to provide stock prices from exchanges in continental Europe in return for access to the London prices, which he then supplied to stockbrokers in Paris. In 1865, Reuter's private firm was restructured, and it became a limited company (a corporation) called the Reuter's Telegram Company. Reuter had been naturalised as a British subject in 1857.

Reuter's agency built a reputation in Europe for being the first to report news scoops from abroad, such as Abraham Lincoln’s assassination. Almost every major news outlet in the world now subscribes to Reuters' services, which operates in over 200 cities in 94 countries in about 20 languages.

The last surviving member of the Reuters family founders, Marguerite, Baroness de Reuter, died at age 96 on 25 January 2009, after having suffered a series of strokes.

Journalists

Reuters employs several thousand journalists, sometimes at the cost of their lives. In May 2000, Kurt Schork, an American reporter, was killed in an ambush while on assignment in Sierra Leone. In April and August 2003, news cameramen Taras Protsyuk and Mazen Dana were killed in separate incidents by US troops in Iraq. In July 2007, Namir Noor-Eldeen and Saeed Chmagh were killed when they were fired upon by a US military Apache helicopter in Baghdad after having been mistakenly identified as carrying weapons. During 2004, cameramen Adlan Khasanov in Chechnya and Dhia Najim in Iraq were also killed. In April 2008, cameraman Fadel Shana was killed in the Gaza Strip after being hit by an Israeli tank using flechettes. The first Reuters journalist to be taken hostage in action was Anthony Grey. Detained while covering the Cultural Revolution in Peking in the late 1960s, it was said to be in response to the jailing of several Chinese journalists by the colonial British Government in Hong Kong. He was considered to be the first political hostage of the modern age and was released after almost 2 years of solitary confinement. Awarded an OBE by the British Government in recognition of this, he went on to become a best selling author.

Fatalities

{| |- style="text-align:center; background:#f0f0f0;" ||Name ||Nationality ||Location ||Date |- | Kurt Schork||American||Sierra Leone||24 May 2000 |- | Taras Protsyuk||Ukrainian||Iraq||8 April 2003 |- | Mazen Dana||Palestinian||Iraq||17 August 2003 |- | Adlan Khasanov||Russian||Chechnya||9 May 2004 |- | Dhia Najim||Iraqi||Iraq||1 November 2004 |- | Waleed Khaled ||Iraqi||Iraq||28 August 2005 |- | Namir Noor-Eldeen ||Iraqi||Iraq||12 July 2007 |- | Saeed Chmagh ||Iraqi||Iraq||12 July 2007 |- | Fadel Shana||Palestinian||Gaza Strip||16 April 2008 |- | Hiro Muramoto ||Japanese||Thailand||10 April 2010 |- | Sabah al-Bazee ||Iraqi||Iraq||29 March 2011

|}

Criticism and controversy

Policy of objective language

Reuters has a strict policy towards upholding journalistic objectivity. This policy has caused comment on the possible insensitivity of its non-use of the word ''terrorist'' in reports, including the 11 September attacks. Reuters has been careful to only use the word ''terrorist'' in quotes, whether quotations or scare quotes. Reuters global news editor Stephen Jukes wrote, "We all know that one man's terrorist is another man's freedom fighter, and that Reuters upholds the principle that we do not use the word terrorist." ''The Washington Post'' media critic Howard Kurtz responded, "After the 1995 Oklahoma City bombing, and again after the attacks on the World Trade Center and Pentagon, Reuters allowed the events to be described as acts of terror. But as of last week, even that terminology is banned." Reuters later apologised for this characterisation of their policy, although they maintained the policy itself.

The 20 September 2004 edition of ''The New York Times'' reported that the Reuters Global Managing Editor, David A. Schlesinger, objected to Canadian newspapers' editing of Reuters articles by inserting the word ''terrorist'', stating that "my goal is to protect our reporters and protect our editorial integrity".

However, when reporting the 7 July 2005 London bombings, the service reported, "Police said they suspected terrorists were behind the bombings." This line appeared to break with their previous policy and was also criticised. Reuters later clarified by pointing out they include the word "when we are quoting someone directly or in indirect speech," and the headline was an example of the latter. The news organisation has subsequently used "terrorist" without quotations when the article clarifies that it is someone else's words.

Photograph controversies / anti-Israel bias

Reuters was accused of bias against Israel in its coverage of the 2006 Israel-Lebanon conflict, in which the company used two doctored photos by a Lebanese freelance photographer Adnan Hajj. On 7 August 2006, Reuters announced it severed all ties with Hajj and said his photographs would be removed from its database.

In 2010, Reuters was criticised again for anti-Israeli bias when it cropped out activists' knives and a naval commando's blood from photographs taken aboard the ''Mavi Marmara'' during the Gaza flotilla raid. In two separate photographs, knives held by the activists were edited out of the versions of the pictures published by Reuters. The live arms wielded by the Israeli forces who had boarded the ship were not cropped out.

See also

Agence France-Presse

Associated Press

Deutsche Presse-Agentur

Interbank market

United Press International

Caribbean News Agency

Notes

References

Read, Donald (1992). ''The Power of News: The History of Reuters 1849–1989''. Oxford, Oxford University Press. ISBN 0-19-821776-5.

Mooney, Brian; Simspon, Barry (2003). ''Breaking News: How the wheels came off at Reuters''. Capstone. ISBN 1-84112-545-8.

Further reading

Reuters Interactive launches on BTX Enterprise as Reuters Interactive community site

Editorials on Reuters' use of 'terrorist': ''The Wall Street Journal''s James Taranto, Norman Solomon, Institute for Public Accuracy/U.S. columnist

Criticism of references to the Holocaust

Reuters photo caption of New York City's World Trade Center site after 11 September causes controversy

Reuters Investigation Leads To Dismissal Of Editor

External links

Reuters consumer websites:

* Reuters US

* Reuters Germany

* Reuters UK

*Reuters Arabic

* Reuters Japan

* Reuters China

* Reuters India

*Reuters in Twitter

* Reuters Interactive

Times of Crisis—multimedia interactive charting the year of global change

Bearing Witness award-winning multimedia reflecting on war in Iraq

Reuters – The State of the World—News imagery of the 21st century

Reuters Arabic Fan Page in Facebook

Reuters Foundation—philanthropic foundation

Category:Companies established in 1851 Category:Companies formerly listed on the London Stock Exchange Category:Financial data vendors Category:Financial software companies Category:Media companies based in London Category:Multilingual news services Category:News agencies based in the United Kingdom Category:Financial news agencies Category:New Zealand House of Representatives accredited news organisations Category:1851 establishments in the United Kingdom

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Felix Salmon is a financial journalist, formerly of ''Portfolio Magazine'' and ''Euromoney'', and a blogging editor for Reuters. He was also author of a ''Wired'' cover story on the Gaussian copula.

The American Statistical Association presented Salmon with the 2010 Excellence in Statistical Reporting Award "for his body of work, which exemplifies the highest standards of scientific reporting. His insightful use of statistics as a tool to understanding the world of business and economics, areas that are critical in today's economy, sets a new standard in statistical investigative reporting."

Salmon published an article in Wired Magazine 27 December 2010 explaining high frequency trading on Wall Street. This was followed by an interview on the national radio station NPR. The program aired on 13 January 2011.

Biography

Salmon is a graduate of the University of Glasgow and moved to the United States from the United Kingdom in 1997. He began blogging in 1999 for the wire service Bridge News, segueing into a job for noted economist Nouriel Roubini.

References

External links

FelixSalmon.com

Category:Alumni of the University of Glasgow Category:Year of birth missing (living people) Category:Living people

Coordinates	57°49′″N28°20′″N
name	Vladimir PutinВладимир Путин
office	Prime Minister of Russia
term start	8 May 2008
deputy	Viktor ZubkovIgor Shuvalov
president	Dmitry Medvedev
predecessor	Viktor Zubkov
term start2	9 August 1999
term end2	7 May 2000
president2	Boris Yeltsin
predecessor2	Sergei Stepashin
successor2	Mikhail Kasyanov
office3	2nd President of Russia
term start3	7 May 2000
term end3	7 May 2008
primeminister3	Mikhail Kasyanov (2000-2004)Viktor Khristenko (Acting, 2004)Mikhail Fradkov (2004-2007)Viktor Zubkov (2007-2008)
predecessor3	Boris Yeltsin
successor3	Dmitry Medvedev
office4	Acting President of Russia
term start4	31 December 1999
term end4	7 May 2000
primeminister4	Himself
predecessor4	Boris Yeltsin (as President)
successor4	None
office5	Chairman of the Council of Ministers of the Union State
term start5	27 May 2008
predecessor5	Office established
office6	First Deputy Prime Minister of Russia
term start6	9 August 1999
term end6	16 August 1999
president6	Boris Yeltsin
primeminister6	Acting PM himself
predecessor6	Viktor Khristenko
successor6	Mikhail Kasyanov
office7	Chairman of the United Russia
term start7	1 January 2008
predecessor7	Boris Gryzlov
birth date	October 07, 1952
birth place	Leningrad, Soviet Union
nationality	Russian
party	United Russia
otherparty	CPSU (1975 to 1991)Our Home – Russia (1995)
spouse	Lyudmila Putina
children	MariyaYekaterina
alma mater	Leningrad State University
occupation	Politician
profession	Lawyer
religion	Russian Orthodoxy
signature	Putin signature.svg
website
allegiance
branch	KGB
serviceyears	1975-1992
rank	Polkovnik
unit	Second Chief DirectorateFirst Chief Directorate
battles	Cold War1991 Soviet coup
awards	}}

Vladimir Vladimirovich Putin (; born 7 October 1952) is a Russian politician who served as the second President of the Russian Federation and is the current Prime Minister of Russia, as well as chairman of United Russia and Chairman of the Council of Ministers of the Union of Russia and Belarus. He became acting President on 31 December 1999, when president Boris Yeltsin resigned in a surprising move. Putin won the 2000 presidential election and in 2004 he was re-elected for a second term lasting until 7 May 2008.

Because of constitutionally mandated term limits, Putin was ineligible to run for a third consecutive presidential term. After the victory of his successor, Dmitry Medvedev, in the 2008 presidential elections, Putin was nominated by Medvedev to be Russia's Prime Minister; Putin took office on 8 May 2008. In September 2011, Putin officially announced that he would seek a third, non-consecutive term in the 2012 presidential election.

Putin is credited with bringing political stability. He has been credited with restoring the territorial integrity of Russia via the Second Chechen War. During Putin's presidency, the Russian economy grew for nine straight years, seeing GDP increase by 72% in PPP (sixfold in nominal), poverty decrease by more than 50%, and average monthly salaries increase from $80 to $640. These achievements were ascribed to strong macroeconomic management, important fiscal policy reforms and a confluence of high oil prices, surging capital inflows and access to low-cost external financing, Some authors described them as impressive.

During his presidency, Putin passed into law a flat income tax of 13%, a reduced profits tax, and new land and legal codes. His energy policy affirms Russia's position as an energy superpower. Energy projects have included the renaissance of the nuclear industry in the country and construction starts on several major export pipelines, including ESPO and Nord Stream.

While the Putin presidency has been criticized by Western observers and domestic opposition as undemocratic, Putin's overseeing of the return of order and stability has won him popularity in Russian society. Putin often supports a tough guy image in the media, demonstrating his physical capabilities and taking part in unusual or dangerous acts, such as extreme sports and interaction with wild animals. A judoka and samboist, several times Champion of Leningrad in his youth, Putin has played a major role in development of sport in Russia, notably, helping the city of Sochi to win the bid for the 2014 Winter Olympics.

Early life and education

Putin was born on October 7, 1952, in Leningrad, RSFSR, USSR (now Saint Petersburg, Russian Federation), to parents Vladimir Spiridonovich Putin (1911–1999) and Maria Ivanovna Putina (1911–1998). His mother was a factory worker, and his father was a conscript in the Soviet Navy, where he served in the submarine fleet in the early 1930s. Two elder brothers were born in the mid-1930s; one died within a few months of birth, while the second succumbed to diphtheria during the siege of Leningrad. His paternal grandfather, Spiridon Ivanovich Putin (1879–1965), was employed at Vladimir Lenin's dacha at Gorki as a cook, and after Lenin's death in 1924, he continued to work for Lenin's wife, Nadezhda Krupskaya. He would later cook for Joseph Stalin when the Soviet leader visited one of his dachas in the Moscow region. Spiridon later was employed at a dacha belonging to the Moscow City Committee of the Communist Party of the Soviet Union, at which the young Putin would visit him.

His autobiography, ''Ot Pervogo Litsa'' (English: ''In the First Person''), which is based on Putin's interviews, speaks of humble beginnings, including early years in a communal apartment in Leningrad. On 1 September 1960, he started at School No. 193 at Baskov Lane, just across from his house. By fifth grade he was one of a few in a class of more than 45 pupils who was not yet a member of the Pioneers, largely because of his rowdy behavior. In sixth grade he started taking sport seriously in the form of sambo and then judo. In his youth, Putin was eager to emulate the intelligence officer characters played on the Soviet screen by actors such as Vyacheslav Tikhonov and Georgiy Zhzhonov.

Putin graduated from the International Law branch of the Law Department of the Leningrad State University in 1975, writing his final thesis on international law. While at university he became a member of the Communist Party of the Soviet Union, and remained a member until the party was dissolved in December 1991. Also at the University he met Anatoly Sobchak who later played an important role in Putin's career. Anatoly Sobchak was at the time an Assistant Professor and lectured Putin's class on Business Law (khozyaystvennoye pravo).

KGB career

Putin joined the KGB in 1975 upon graduation from university, and underwent a year's training at the 401st KGB school in Okhta, Leningrad. He then went on to work briefly in the Second Chief Directorate (counter-intelligence) before he was transferred to the First Chief Directorate, where among his duties was the monitoring of foreigners and consular officials in Leningrad, while using the cover of being a police officer with the CID.

From 1985 to 1990, the KGB stationed Putin in Dresden, East Germany. Following the collapse of the East German regime, Putin was recalled to the Soviet Union and returned to Leningrad, where in June 1991 he assumed a position with the International Affairs section of Leningrad State University, reporting to Vice-Rector Yuriy Molchanov. In his new position, Putin maintained surveillance on the student body and kept an eye out for recruits. It was during his stint at the university that Putin grew reacquainted with Anatoly Sobchak, then mayor of Leningrad. Sobchak served as an assistant professor during Putin's university years and was one of Putin's lecturers. Putin resigned from the active state security services at the beginning of 1992, after the defeat of the KGB-supported abortive putsch against Soviet President Mikhail Gorbachev.

Early political career

In May 1990, Putin was appointed Mayor Sobchak's advisor on international affairs. On 28 June 1991, he was appointed head of the Committee for External Relations of the Saint Petersburg Mayor's Office, with responsibility for promoting international relations and foreign investments. The Committee also registered business ventures in Saint Petersburg. Less than one year later, Putin was investigated by a commission of the city legislative council. Commission deputies Marina Salye and Yury Gladkov concluded that Putin understated prices and permitted the export of metals valued at $93 million, in exchange for foreign food aid that never arrived. Despite the commission's recommendation that Putin be fired, Putin remained head of the Committee for External Relations until 1996.

From 1994 to 1997, Putin was appointed to other positions in Saint Petersburg. In March 1994, he became first deputy head of the city administration. From 1995 through June 1997, he led the Saint Petersburg branch of the pro-government Our Home Is Russia political party. From 1995 through June 1997 he was also the head of the Advisory Board of the JSC Newspaper Sankt-Peterburgskie Vedomosti.

In 1996, Anatoly Sobchak lost the Saint Petersburg mayoral election to Vladimir Yakovlev. Putin was called to Moscow and in June 1996 became a Deputy Chief of the Presidential Property Management Department headed by Pavel Borodin. He occupied this position until March 1997. During his tenure Putin was responsible for the foreign property of the state and organized transfer of the former assets of the Soviet Union and Communist Party to the Russian Federation.

On 27 June 1997, at the Saint Petersburg Mining Institute Putin defended his Candidate of Science dissertation in economics, titled "The Strategic Planning of Regional Resources Under the Formation of Market Relations".

On 26 March 1997 President Boris Yeltsin appointed Putin deputy chief of Presidential Staff, which he remained until May 1998, and chief of the Main Control Directorate of the Presidential Property Management Department (until June 1998). His predecessor on this position was Alexei Kudrin and the successor was Nikolai Patrushev both future prominent politicians and Putin's associates.

On 25 May 1998, Putin was appointed First Deputy Chief of Presidential Staff for regions, replacing Viktoriya Mitina; and, on 15 July, the Head of the Commission for the preparation of agreements on the delimitation of power of regions and the federal center attached to the President, replacing Sergey Shakhray. After Putin's appointment, the commission completed no such agreements, although during Shakhray's term as the Head of the Commission there were 46 agreements signed. Later, after becoming President Putin canceled all those agreements.

On 25 July 1998 Yeltsin appointed Vladimir Putin head of the FSB (one of the successor agencies to the KGB), the position Putin occupied until August 1999. He became a permanent member of the Security Council of the Russian Federation on 1 October 1998 and its Secretary on 29 March 1999. In April 1999, FSB Chief Vladimir Putin and Interior Minister Sergei Stepashin held a televised press conference in which they discussed a video that had aired nationwide 17 March on the state-controlled Russia TV channel which showed a naked man very similar to the Prosecutor General of Russia, Yury Skuratov, in bed with two young women. Putin claimed that expert FSB analysis proved the man on the tape to be Skuratov and that the orgy had been paid for by persons investigated for criminal offences. Skuratov had been adversarial toward President Yeltsin and had been aggressively investigating government corruption.

On 15 June 2000, ''The Times'' reported that Spanish police discovered that Putin had secretly visited a villa in Spain belonging to the oligarch Boris Berezovsky on up to five different occasions in 1999.

1st Premiership (1999–2000)

On 9 August 1999, Vladimir Putin was appointed one of three First Deputy Prime Ministers, which enabled him later on that day, as the previous government led by Sergei Stepashin had been sacked, to be appointed acting Prime Minister of the Government of the Russian Federation by President Boris Yeltsin. Yeltsin also announced that he wanted to see Putin as his successor. Later, that same day, Putin agreed to run for the presidency. On 16 August, the State Duma approved his appointment as Prime Minister with 233 votes in favour (vs. 84 against, 17 abstained), while a simple majority of 226 was required, making him Russia's fifth PM in fewer than eighteen months. On his appointment, few expected Putin, virtually unknown to the general public, to last any longer than his predecessors. He was initially regarded as a Yeltsin loyalist; like other prime ministers of Boris Yeltsin, Putin did not choose ministers himself, his cabinet being determined by the presidential administration. Yeltsin's main opponents and would-be successors, Moscow Mayor Yuriy Luzhkov and former Chairman of the Russian Government Yevgeniy Primakov, were already campaigning to replace the ailing president, and they fought hard to prevent Putin's emergence as a potential successor. Putin's law-and-order image and his unrelenting approach to the renewed crisis in Chechnya soon combined to raise his popularity and allowed him to overtake all rivals.

Putin's rise to public office in August 1999 coincided with an aggressive resurgence of the near-dormant conflict in the North Caucasus, when a number of Chechens invaded a neighboring region starting the War in Dagestan. Both in Russia and abroad, Putin's public image was forged by his tough handling of the war. On assuming the role of acting President on 31 December 1999, Putin went on a previously scheduled visit to Russian troops in Chechnya. In 2003, a controversial referendum was held in Chechnya adopting a new constitution which declares the Republic as a part of Russia. Chechnya has been gradually stabilized with the parliamentary elections and the establishment of a regional government. Throughout the war Russia has severely disabled the Chechen rebel movement, although sporadic violence still occurs throughout the North Caucasus.

While not formally associated with any party, Putin pledged his support to the newly formed Unity Party, which won the second largest percentage of the popular vote (23.3%) in the December 1999 Duma elections, and in turn he was supported by it.

Presidency

First term (2000–2004)

On 31 December 1999, Yeltsin unexpectedly resigned and, according to the constitution, Putin became Acting President of the Russian Federation.

The first decree that Putin signed, on 31 December 1999, was titled "On guarantees for former president of the Russian Federation and members of his family". This ensured that "corruption charges against the outgoing President and his relatives" would not be pursued, although this claim is not strictly verifiable. Later on 12 February 2001 Putin signed a federal law on guarantees for former presidents and their families, which replaced the similar decree. In 1999, Yeltsin and his family were under scrutiny for charges related to money-laundering by the Russian and Swiss authorities.

While his opponents had been preparing for an election in June 2000, Yeltsin's resignation resulted in the elections being held within three months, in March. Presidential elections were held on 26 March 2000; Putin won in the first round.

Vladimir Putin was inaugurated president on 7 May 2000. He appointed Minister of Finance Mikhail Kasyanov as his Prime minister. Having announced his intention to consolidate power in the country into a strict vertical, in May 2000 he issued a decree dividing 89 federal subjects of Russia between 7 federal districts overseen by representatives of him in order to facilitate federal administration. In July 2000, according to a law proposed by him and approved by the Russian parliament, Putin also gained the right to dismiss heads of the federal subjects.

During his first term in office, he moved to curb the political ambitions of some of the Yeltsin-era ''oligarchs'' such as former Kremlin insider Boris Berezovsky, who had "helped Mr. Putin enter the family, and funded the party that formed Mr. Putin's parliamentary base", according to BBC profile. At the same time, according to Vladimir Solovyev, it was Alexey Kudrin who was instrumental in Putin's assignment to the Presidential Administration of Russia to work with Pavel Borodin, and according to Solovyev, Berezovsky was proposing Igor Ivanov rather than Putin as a new president. A new group of business magnates, such as Gennady Timchenko, Vladimir Yakunin, Yuriy Kovalchuk, Sergey Chemezov, with close personal ties to Putin, emerged.

Russia's legal reform continued productively during Putin's first term. In particular, Putin succeeded in the codification of land law and tax law, where progress had been slow during Yeltsin's administration, because of Communist and oligarch opposition, respectively. Other legal reforms included new codes on labour, administrative, criminal, commercial and civil procedural law, as well as a major statute on the Bar. The first major challenge to Putin's popularity came in August 2000, when he was criticised for his alleged mishandling of the ''Kursk'' submarine disaster.

In December 2000, Putin sanctioned the law to change the National Anthem of Russia. At the time the Anthem had music by Glinka and no words. The change was to restore (with a minor modification) the music of the post-1944 Soviet anthem by Alexandrov, while the new text was composed by Mikhalkov.

Many in the Russian press and in the international media warned that the death of some 130 hostages in the special forces' rescue operation during the 2002 Moscow theater hostage crisis would severely damage President Putin's popularity. However, shortly after the siege had ended, the Russian president was enjoying record public approval ratings – 83% of Russians declared themselves satisfied with Putin and his handling of the siege.

The arrest in early July 2003 of Platon Lebedev, a Mikhail Khodorkovsky partner and second largest shareholder in Yukos, on suspicion of illegally acquiring a stake in a state-owned fertilizer firm, Apatit, in 1994, foreshadowed what by the end of the year became a full-fledged prosecution of Yukos and its management for fraud, embezzlement, and tax evasion.

A few months before the elections, Putin fired Kasyanov's cabinet and appointed Mikhail Fradkov to his place. Sergey Ivanov became the first civilian in Russia to take Defense Minister position.

Second term (2004–2008)

On 14 March 2004, Putin was re-elected to the presidency for a second term, receiving 71% of the vote.

By the beginning of Putin's second term he had been accused of undermining independent sources of political power in Russia, decreasing the degree of pluralism in the Russian society.

Some in Beslan blamed Putin personally for the massacre after the Beslan school hostage crisis in September 2004, in which hundreds died. Putin suggested the creation of the Public Chamber of Russia and launched an initiative to replace the direct election of the Governors and Presidents of the Federal subjects of Russia with a system whereby they would be nominated by the President and approved or disapproved by regional legislatures. He also initiated the merger of a number of federal subjects of Russia into larger entities.

According to various Russian and western media reports, major domestic issues for Putin included demographic and social trends in Russia, such as a death rate higher than the birth rate, cyclical poverty, and housing concerns. In 2005, ''National Priority Projects'' were launched in the fields of health care, education, housing and agriculture. The most high-profile change within the national priority project frameworks was probably the 2006 across-the-board increase in wages in healthcare and education, as well as the decision to modernise equipment in both sectors in 2006 and 2007. In his May 2006 annual speech, Putin proposed increasing maternity benefits and prenatal care for women. Putin advocated reforming the federal judiciary, calling it "Sovietesque". In 2005, responsibility for federal prisons was transferred from the Ministry of Internal Affairs to the Ministry of Justice.

One controversial aspect of Putin's second term was continued criminal prosecution of Russia's richest man, Mikhail Khodorkovsky, President of YUKOS, for fraud and tax evasion. While much of the international press saw this as a retaliation for Khodorkovsky's donations to both liberal and communist opponents of the Kremlin, the government said that Khodorkovsky was corrupting a large segment of the Duma to prevent tax code changes such as taxes on windfall profits and closing offshore tax evasion vehicles. Khodorkovsky's arrest was seen positively by the Russian public. Many of the early Russian privatizations, including that of Yukos, are widely believed to have been fraudulent – Yukos, valued at some $30 billion in 2004, had been privatized for $110 million – and like other oligarchic groups, the Yukos-Menatep name has been frequently tarred with accusations of links to criminal organizations. Tim Osborne of GML, the majority owner of Yukos, said in February 2008: "Despite claims by President Vladimir Putin that the Kremlin had no interest in bankrupting Yukos, the company's assets were auctioned at below-market value. In addition, new debts suddenly emerged out of nowhere, preventing the company from surviving. The main beneficiary of these tactics was Rosneft. The Yukos affair marked a turning point in Russia's commitment to domestic property rights and the rule of law." The fate of Yukos was seen by western media as a sign of a broader shift toward a system normally described as state capitalism. The Yukos saga raised questions about the actual destination of $13.1 billion remitted in October 2005 by the state-run Gazprom as payment for 75.7% stake in Sibneft to Millhouse-controlled offshore accounts, after a series of generous dividend payouts and another $3 billion received from Yukos in a failed merger in 2003. In 1996, Roman Abramovich and Boris Berezovsky had acquired the controlling interest in Sibneft for $100 million within the controversial loans-for-shares program. Some prominent Yeltsin-era businessmen such as Sergey Pugachyov reportedly still close relationship with Putin's Kremlin.

A study by Bank of Finland’s Institute for Economies in Transition (BOFIT) in 2008 found that state intervention had made a positive impact on the corporate governance of many companies in Russia: the formal indications of the quality of corporate governance in Russia were higher in companies with state control or with a stake held by the government.

Since February 2006, Putin's administration has often been described as a "Sovereign democracy", a term with both positive and pejorative connotations. First proposed by Vladislav Surkov in February 2006, the term quickly gained currency within Russia and arguably unified various political elites around it. According to its proponents, the government's actions and policies ought above all to enjoy popular support within Russia itself and not be determined from outside the country. The Carnegie Endowment's Masha Lipman has said that "''Sovereign democracy'' is a Kremlin coinage that conveys two messages: first, that Russia's regime is democratic and, second, that this claim must be accepted, period. Any attempt at verification will be regarded as unfriendly and as meddling in Russia's domestic affairs."

Putin was widely criticized in the West and also by Russian liberals for what many observers considered a wide-scale crackdown on media freedom in Russia. Since the early 1990s, a number of Russian reporters who have covered the situation in Chechnya, or contentious stories on organized crime, state and administrative officials and large businesses have been killed. On 7 October 2006, Anna Politkovskaya, a journalist who exposed corruption in the Russian army and its conduct in Chechnya, was shot in the lobby of her apartment building. The death of Politkovskaya triggered an outcry in Western media, with accusations that, at best, Putin has failed to protect the country's new independent media. When asked about the Politkovskaya murder in his interview with the German TV channel ARD, Putin said that her murder brings much more harm to the Russian authorities than her writing. In January 2008, Oleg Panfilov, head of the Center for Journalism in Extreme Situations, claimed that a system of "judicial terrorism" had started against journalists under Putin and that more than 300 criminal cases had been opened against them over the prior six years. At the same time, according to 2005 research by VCIOM, the share of Russians approving censorship on TV grew in a year from 63% to 82%. Sociologists believed that Russians were not against freedom of the press so much as scenes of violence and sex.

In June 2007, Putin organised a conference for history teachers to promote a high-school teachers manual called ''A Modern History of Russia: 1945–2006: A Manual for History Teachers'' which portrays Joseph Stalin as a cruel but successful leader. Putin said at the conference that the new manual will "help instill young people with a sense of pride in Russia", and argued that Stalin's purges pale in comparison to the United States' atomic bombings of Hiroshima and Nagasaki. At a memorial for Stalin's victims, Putin said that while Russians should "keep alive the memory of tragedies of the past, we should focus on all that is best in the country".

In a 2007 interview with newspaper journalists from G8 countries, Putin spoke out in favor of a longer presidential term in Russia, saying "a term of five, six or seven years in office would be entirely acceptable".

On 12 September 2007, Putin dissolved the government upon the request of Prime Minister Mikhail Fradkov. Fradkov commented that it was to give the President a "free hand" in the run-up to the parliamentary election. Viktor Zubkov was appointed the new prime minister.

In December 2007, United Russia won 64.24% of the popular vote in their run for State Duma according to election preliminary results. Their closest competitor, the Communist Party of Russia, won approximately 12% of votes. United Russia's victory in December 2007 elections was seen by many as an indication of strong popular support of the then Russian leadership and its policies. The end of 2007 saw what both Russian and Western analysts viewed as an increasingly bitter infighting between various factions of the ''siloviki'' that make up a significant part of Putin's inner circle.

In December 2007, Russian sociologist Igor Eidman (VCIOM) called the regime that had solidified under Putin "the power of bureaucratic oligarchy", with "the traits of extreme right-wing dictatorship — the dominance of state-monopoly capital in the economy, ''silovoki'' structures in governance, clericalism and statism in ideology". Some analysts say the emerging Russian socio-economic system is profoundly unstable and the Kremlin after Dmitry Medvedev's nomination as fraught with a coup d'état, as "Putin has built a political construction that resembles a pyramid which rests on its tip, rather than on its base".

''The Moscow Times'' wrote in February 2008: "The main lesson we should have learned from Putin's eight years in office is a recognition that under the traditional Russian political system that he has revitalized, not only do officials not mean what they say, but also that obfuscation is essential to the way it all works... Putin's playing of the Russian political game has been virtuosic." On the eve of his stepping down as president the FT editorialised: "Mr. Putin will remain Russia’s real ruler for some time to come. And the ex-KGB men he promoted will stay close to the seat of power."

On 8 February 2008, Putin delivered a speech before the expanded session of the State Council headlined "On the Strategy of Russia's Development until 2020", which was interpreted by the Russian media as his "political bequest". The speech was largely devoted to castigating the state of affairs in the 1990s and setting ambitious targets of economic growth by 2020. He also condemned the expansion of NATO and the US plan to include Poland and the Czech Republic in a missile defence shield and promised that "Russia has, and always will have, responses to these new challenges".

In his last days in office Putin was reported to have taken a series of steps to re-align the regional bureaucracy to make the governors report to the prime minister rather than the president. The presidential site explained that "the changes... bear a refining nature and do not affect the essential positions of the system. The key role in estimating the effectiveness of activity of regional authority still belongs to President of the Russian Federation."

2nd Premiership (2008–present)

Putin was barred from a third term by the Constitution. First Deputy Prime Minister Dmitry Medvedev was elected his successor. On 8 May 2008—only a day after handing the presidency to Medvedev—Putin was appointed Prime Minister of Russia. By all accounts, however, he still held the real power.

On 24–25 July 2008, Putin accused the Mechel company of selling resources to Russia at higher prices than those charged to foreign countries and avoiding taxes by using foreign subsidiaries to sell its products internationally. The Prime Minister's attack on Mechel resulted in sharp decline of its stock value and contributed to the 2008 Russian financial crisis.

In August 2008 Putin accused the US of provoking the 2008 South Ossetia war, to benefit of one of the two presidential candidates. The White House described the accusation as "not rational".

In December 2008, car owners and traders from Vladivostok and other regions protested against highly unpopular new duties and regulations on the import of foreign-made used cars (the tariff hike was introduced by Putin in violation of the international commitments undertaken by Medvedev at the G20 Summit in November 2008), one of the slogans being "Putin, resign!" This was seen as the first visible public anger at one of the government's responses to the crisis. The following month, the protests continued, with the slogans having become of a mostly political nature.

In December 2009, during the annual televised phone-in session, the prime minister continued his reflective approach to Russian history and openly criticised Josef Stalin’s cult of personality, his “crimes against his own people”, and all forms of totalitarianism.

On 5 February 2009, Russia's liberal democratic political movement, citing the regime's "total helplessness and flagrant incompetence" maintained that "the dismantling of Putinism" and restoration of democracy in Russia were prerequisites for any successful anti-crisis measures and demanded that Putin's government resign. The Russian government's anti-crisis measures have been praised by the World Bank, which said in its Russia Economic Report from November 2008: "prudent fiscal management and substantial financial reserves have protected Russia from deeper consequences of this external shock. The government’s policy response so far—swift, comprehensive, and coordinated—has helped limit the impact." On 9 June 2009, after 16 years of slowly progressing accession talks with the World Trade Organization, which, according to the European Union, might be completed by the end of the year, Vladimir Putin announced that Russia withdrew from the negotiations and instead would make a new joint bid with Belarus and Kazakhstan. Senior Kremlin officials had earlier signalled, that Russia was losing patience with Western promises to let it join.

At the United Russia Congress in Moscow on 24 September 2011, Medvedev officially proposed that Putin stand for the Presidency in 2012; an offer which Putin "accepted". Given United Russia's near-total dominance of Russian politics, many observers believe that Putin is all but assured of a third term. The move is expected to see Medvedev stand on the United Russia ticket in the parliamentary elections in December, with a goal of becoming Prime Minister at the end of his presidential term.

After the parliamentary elections on 4 December 2011, many Russians protested against perceived electoral fraud; protesters criticized Putin and United Russia. December 10 saw the biggest protests since the fall of Communism. Demonstrators demanded that Putin and other politicians resign, and that the election results be annulled. On 24 December 2011 an even bigger rally for fair elections was held in Moscow; Putin's former finance minister, Alexei Kudrin, called for new elections and for accountability for those responsible for the election fraud.

Policies

Domestic policy

Several government actions made under Putin’s presidency have been criticized by some independent Russian media outlets and many Western commentators as anti-democratic.

In 2007, "Dissenters' Marches" were organized by the opposition group The Other Russia, led by former chess champion Garry Kasparov and national-Bolshevist leader Eduard Limonov. Following prior warnings, demonstrations in several Russian cities were met by police action, which included interfering with the travel of the protesters and the arrests of as many as 150 people who attempted to break through police lines. The Dissenters' Marches have received little support among the Russian general public, according to popular polls. The Dissenters' March in Samara held in May 2007 during the Russia-EU summit attracted more journalists providing coverage of the event than actual participants. When asked in what way the Dissenters' Marches bother him, Putin answered that such marches "shall not prevent other citizens from living a normal life". During the Dissenters' March in Saint Petersburg on 3 March 2007, the protesters blocked automobile traffic on Nevsky Prospect, the central street of the city, much to the disturbance of local drivers. The Governor of Saint Petersburg, Valentina Matvienko, commented on the event that "it is important to give everyone the opportunity to criticize the authorities, but this should be done in a civilized fashion". When asked about Kasparov's arrest, Putin replied that during his arrest Kasparov was speaking English rather than Russian, and suggested that he was targeting a Western audience rather than his own people. Putin has said that some domestic critics are being funded and supported by foreign enemies who would prefer to see a weak Russia. In his speech at the United Russia meeting in Luzhniki: "Those who oppose us don't want us to realize our plan.... They need a weak, sick state! They need a disorganized and disoriented society, a divided society, so that they can do their deeds behind its back and eat cake on our tab.".

In its January 2008 World Report, Human Rights Watch wrote in the section devoted to Russia: "As parliamentary and presidential elections in late 2007 and early 2008 approached, the administration headed by President Vladimir Putin cracked down on civil society and freedom of assembly. Reconstruction in Chechnya did not mask grave human rights abuses including torture, abductions, and unlawful detentions. International criticism of Russia’s human rights record remains muted, with the European Union failing to challenge Russia on its human rights record in a consistent and sustained manner." The organization called President Putin a "repressive" and "brutal" leader on par with the leaders of Zimbabwe and Pakistan.

Economic policy

Under the Putin administration the economy made real gains of an average 7% per year (2000: 10%, 2001: 5.1%, 2002: 4.7%, 2003: 7.3%, 2004: 7.2%, 2005: 6.4%, 2006: 8.2%, 2007: 8.5%), making it the 7th largest economy in the world in purchasing power. Russia's nominal Gross Domestic Product (GDP) increased 6 fold, climbing from 22nd to 10th largest in the world. In 2007, Russia's GDP exceeded that of Russian SFSR in 1990, meaning it has overcome the devastating consequences of the 1998 financial crisis and preceding recession in the 1990s.

During Putin's eight years in office, industry grew by 76%, investments increased by 125%, and agricultural production and construction increased as well. Real incomes more than doubled and the average monthly salary increased sevenfold from $80 to $640. From 2000 to 2006 the volume of consumer credit increased 45 times and the middle class grew from 8 million to 55 million. The number of people living below the poverty line decreased from 30% in 2000 to 14% in 2008.

In 2001, Putin, who has advocated liberal economic policies, introduced flat tax rate of 13%; the corporate rate of tax was also reduced from 35 percent to 24 percent; Small businesses also get better treatment. The old system with high tax rates has been replaced by a new system where companies can choose either a 6 percent tax on gross revenue or a 15 percent tax on profits. Overall tax burden is lower in Russia than in most European countries.

A central concept in Putin's economic thinking was the creation of so-called National champions, vertically integrated companies in strategic sectors that are expected not only to seek profit, but also to "advance the interests of the nation". Examples of such companies include Gazprom, Rosneft and United Aircraft Corporation.

Before the Putin era, in 1998, over 60% of industrial turnover in Russia was based on barter and various monetary surrogates. The use of such alternatives to money has now fallen out of favour, which has boosted economic productivity significantly. Besides raising wages and consumption, Putin's government has received broad praise also for eliminating this problem.

Some oil revenue went to stabilization fund established in 2004. The fund accumulated oil revenue, which allowed Russia to repay all of the Soviet Union's debts by 2005. In early 2008, it was split into the Reserve Fund (designed to protect Russia from possible global financial shocks) and the National Welfare Fund, whose revenues will be used for a pension reform.

Inflation remained a problem however, as the government failed to contain the growth of prices. Between 1999–2007 inflation was kept at the forecast ceiling only twice, and in 2007 the inflation exceeded that of 2006, continuing an upward trend at the beginning of 2008. The Russian economy is still commodity-driven despite its growth. Payments from the fuel and energy sector in the form of customs duties and taxes accounted for nearly half of the federal budget's revenues. The large majority of Russia's exports are made up by raw materials and fertilizers, although exports as a whole accounted for only 8.7% of the GDP in 2007, compared to 20% in 2000.

Industrial development

To boost the market share of locally produced vehicles and support the Russia's automotive industry, the government under Putin implemented several protectionist measures and launched programs to attract foreign producers into the country. In late 2005, the government enacted legislation to create special economic zones (SEZ) with the aim of encouraging investments by foreign automotive companies. The benefits of operating in the special economic zones include tax allowances, abolishment of asset and land taxes and protection against changes in the tax regime. Some regions also provide extensive support for large investors (over $100 million.) These include Saint Petersburg/Leningrad Oblast, Kaluga Oblast and Kaliningrad Oblast. Under Putin as President and Premier, most of the world's largest automotive companies opened plants in Russia, including Ford Motor Company, Toyota, General Motors, Nissan, Hyundai Motor, Suzuki, Magna International, Scania and MAN SE.

In 2005, Putin initiated an industry consolidation programme to bring the main aircraft producing companies under a single umbrella organization, the United Aircraft Corporation (UAC). The aim was optimize production lines and minimise losses. The programme was divided in three parts: reorganization and crisis management (2007–2010), evolution of existing projects (2010–2015) and further progress within the newly created structure (2015–2025). The UAC, one of the so-called national champions and comparable to EADS in Europe, enjoyed considerable financial support from the Russian government, and injected money to the companies it had acquired to improve their financial standing. The deliveries of civilian aircraft increased to 6 in 2005, and in 2009 the industry delivered 15 civilian aircraft, worth 12.5 billion roubles, mostly to domestic customers. Since then Russia has successfully tested the fifth generation jet fighter, Sukhoi PAK FA, and started the commercial production of the regional airliner Sukhoi Superjet 100, as well as started developing a number of other major projects.

In a similar fashion, Putin created the United Shipbuilding Corporation in 2007, which led to the recovery of shipbuilding in Russia. Since 2006, much efforts were put into consolidation and development of the Rosatom Nuclear Energy State Corporation, which led to the renewed construction of nuclear power plants in Russia as well as a vast activity of Rosatom abroad, buying huge shares in world's leading uranium production companies and building nuclear power plants in in many countries, including Iran, China, Vietnam and Belarus. In 2007, the Russian Nanotechnology Corporation was established, aimed to boost the science and technology and high-tech industry in Russia.

Energy policy

Arctic policy

Putin has sought to increase Russian military and economic presence in the Arctic. In August 2007, a Russian expedition named Arktika 2007, led by Artur Chilingarov, planted a Russian flag on the seabed below the North Pole. to underline Russia's 2001 claim submission. In June 2008 General Vladimir Shamanov announced that Russia would increase the operational radius of its Northern Fleet submarines. and in July 2011 Defense Minister Anatoly Serdyukov announced plans for two brigades to be stationed in the Arctic.

A construction program of floating nuclear power plants will provide power to Russian Arctic coastal cities and gas rigs. A 21,500-ton barge with twin 35-megawatt reactors, the ''Akademik Lomonosov'', will go into operation in 2012. The Prirazlomnoye field, an offshore oilfield in the Pechora Sea that will include up to 40 wells, is currently under construction and drilling is expected to start in early 2012. It will have the world's first ice-resistant oil platform and will also be the first offshore Arctic platform.

In August 2011 Rosneft, a Russian government-operated oil company, signed a deal with ExxonMobil to receive oil assets in exchange for the joint development of Russian Arctic resources by both companies. The agreement includes a $3.2 billion hydrocarbon exploration of the Kara and Black seas, as well as joint development of ice-resistant drilling platforms and other Arctic technologies. "The scale of the investment is very large. It’s scary to utter such huge figures" said Putin on signing the deal.

Environmental policy

In 2004, President Putin signed the Kyoto Protocol treaty designed to reduce greenhouse gases. However Russia did not face mandatory cuts, because the Kyoto Protocol limits emissions to a percentage increase or decrease from 1990 levels and Russia's greenhouse-gas emissions fell well below the 1990 baseline due to a drop in economic output after the breakup of the Soviet Union.

Recently during the past election Putin and his assumed successor have been talking about the need for Russia to crack down on polluting companies and clean up Russia’s environment. He has been quoted as saying “Working to protect nature must become the systematic, daily obligation of state authorities at all levels.” President Medvedev has also been quoted as saying "There is not much they fear because the penalty for environmental damage is frequently 10 times, even 100 times less than the fees to meet environmental requirements."

Sports development

On 4 July 2007 Putin made a full fluent English speech while addressing delegates at the 119th International Olympic Committee Session in Guatemala City on behalf of the successful bid of Sochi for the 2014 Winter Olympics and the 2014 Winter Paralympics, the first Winter Olympic Games in Russia. In 2008, the city of Kazan won the bid for the 2013 Summer Universiade, and in on the 2 December 2010 Russia won the right to host the 2017 FIFA Confederations Cup and 2018 FIFA World Cup, also for the first time in Russia.

Other major tournaments which the country has been chosen to host include the 2013 World Championships in Athletics in Moscow and the 2015 World Aquatics Championships in Kazan (both events never held in Russia so far), the Russian Grand Prix (a new race of the Formula One since 2014, to be held in Sochi) and the 2016 IIHF World Championship.

Preparations for major international events, in particular in the cases of Sochi and Kazan, include the revamping and build-up of the infrastructure of entire regions of Russia, not only sport venues but transport, energy, communications, housing and public utilities.

Foreign policy

Some commentators have linked Putin's increasing criticism of the foreign policies of the US and other Western countries with the global rise in oil prices. In February 2007, at the annual Munich Conference on Security Policy, he criticized what he called the United States' monopolistic dominance in global relations, and "almost uncontained hyper use of force in international relations". He said the result of it is that "no one feels safe! Because no one can feel that international law is like a stone wall that will protect them. Of course such a policy stimulates an arms race."

Putin called for a "fair and democratic world order that would ensure security and prosperity not only for a select few, but for all". He proposed establishing international centres for the enrichment of uranium and prevention of deploying weapons in outer space. In a January 2007 interview Putin said Russia is in favor of a democratic multipolar world and of strengthening the systems of international law.

Putin's relations with former American President George W. Bush, former German Chancellor Gerhard Schröder, former French President Jacques Chirac, and Italian Prime Minister Silvio Berlusconi are reported to be personally friendly. Leaked documents reported in 2010 in the ''New York Times'', described the connection between Putin and Berlusconi was "extraordinarily close" and marked by "lavish gifts", "lucrative energy contracts", and a "shadowy Russian-speaking Italian go-between." Putin's "cooler" and "more business-like" relationship with Germany's new Chancellor, Angela Merkel is often attributed to Merkel's upbringing in the former DDR, where Putin was stationed when he was a KGB agent.

Putin took an active personal part in promoting the Act of Canonical Communion with the Moscow Patriarchate signed 17 May 2007 that restored relations between the Moscow-based Russian Orthodox Church and the Russian Orthodox Church Outside Russia after the 80-year schism.

In his annual address to the Federal Assembly on 26 April 2007, Putin announced a moratorium on the observance of the CFE Treaty by Russia until all NATO members ratified it and started observing its provisions. Putin argues that as new NATO members have not even signed the treaty so far, an imbalance in the presence of NATO and Russian armed forces in Europe creates a real threat and an unpredictable situation for Russia. NATO members said they would refuse to ratify the treaty until Russia complied with its 1999 Istanbul commitment to remove troops and military equipment from Moldova and Georgia. The Russian Foreign Minister, Sergey Lavrov, responded that "Russia has long since fulfilled all its Istanbul obligations relevant to CFE". Russia suspended its participation in the CFE as of midnight Moscow time on 11 December 2007. On 12 December 2007, the United States officially said it "deeply regretted the Russian Federation's decision to 'suspend' implementation of its obligations under the Treaty on Conventional Armed Forces in Europe (CFE)." State Department spokesman Sean McCormack, in a written statement, claimed that "Russia's conventional forces are the largest on the European continent, and its unilateral action damages this successful arms control regime." NATO's primary concern arising from Russia's suspension was that Moscow could accelerate its military presence in the North Caucasus.

The months following Putin's Munich speech were marked by tension and a surge in rhetoric on both sides of the Atlantic. So, Vladimir Putin said at the anniversary of the Victory Day, "these threats are not becoming fewer but are only transforming and changing their appearance. These new threats, just as under the Third Reich, show the same contempt for human life and the same aspiration to establish an exclusive dictate over the world." Both Russian and American officials, however, denied the idea of a new Cold War. The US Secretary of Defense Robert Gates said on the Munich Conference: "We all face many common problems and challenges that must be addressed in partnership with other countries, including Russia. ... One Cold War was quite enough." Vladimir Putin said prior to 33rd G8 Summit, on 4 June: "we do not want confrontation; we want to engage in dialogue. However, we want a dialogue that acknowledges the equality of both parties’ interests."

Putin publicly opposed plans for the U.S. missile shield in Europe, and presented President George W. Bush with a counterproposal on 7 June 2007 of modernising and sharing the use of the Soviet-era Gabala radar station in Azerbaijan rather than building a new system in the Czech Republic. Putin proposed it would not be necessary to place interceptor missiles in Poland then, but interceptors could be placed in NATO member Turkey or Iraq. Putin suggested also equal involvement of interested European countries in the project.

In a 4 June 2007, interview to journalists of G8 countries, when answering the question of whether Russian nuclear forces may be focused on European targets in case "the United States continues building a strategic shield in Poland and the Czech Republic", Putin admitted that "if part of the United States’ nuclear capability is situated in Europe and that our military experts consider that they represent a potential threat then we will have to take appropriate retaliatory steps. What steps? Of course we must have new targets in Europe."

The end of 2006 brought strained relations between Russia and the United Kingdom in the wake of the death by poisoning of Alexander Litvinenko in London. On 20 July 2007 UK Prime Minister Gordon Brown expelled four Russian envoys over Russia's refusal to extradite Andrei Lugovoi to face charges on the alleged murder of Litvinenko. The Russian constitution prohibits the extradition of Russian nationals to third countries. British Foreign Secretary David Miliband said that "this situation is not unique, and other countries have amended their constitutions, for example to give effect to the European Arrest Warrant".

Miliband's statement was widely publicized by Russian media as a British proposal to change the Russian constitution. According to VCIOM, 62% of Russians are against changing the Constitution in this respect. The British Ambassador in Moscow Tony Brenton said that the UK is not asking Russia to break its Constitution, but rather interpret it in such a way that would make Lugovoi's extradition possible. At a meeting with Russian youth organisations, Putin stated that the United Kingdom was acting like a colonial power with a mindset stuck in the 19th or 20th centuries, due to their belief that Russia could change its constitution. He also stated, "They say we should change our Constitution – advice that I view as insulting for our country and our people. They need to change their thinking and not tell us to change our Constitution." When Litvinenko was dying from radiation poisoning, he allegedly accused Putin of directing the assassination in a statement which was released shortly after his death by his friend Alex Goldfarb. Goldfarb, who is also the chairman of Boris Berezovsky's International Foundation for Civil Liberties, claimed Litvinenko had dictated it to him three days earlier. Andrei Nekrasov said his friend Litvinenko and Litvinenko's lawyer composed the statement in Russian on 21 November and translated it to English. Critics have doubted that Litvinenko is the true author of the released statement. When asked about the Litvinenko accusations, Putin said that a statement released after death of its author "naturally deserves no comment", and stated his belief it was being used for political purposes. Contradicting his previous claim, Goldfarb later stated that Litvinenko instructed him to write a note "in good English" in which Putin was to be accused of his poisoning. Goldfarb also stated that he read the note to Litvinenko in English and Russian, to which he claims Litvinenko agreed "with every word of it" and signed it.

The expulsions were seen as "the biggest rift since the countries expelled each other's diplomats in 1996 after a spying dispute". In response to the situation, Putin stated "I think we will overcome this mini-crisis. Russian-British relations will develop normally. On both the Russian side and the British side, we are interested in the development of those relations." Despite this, British Ambassador Tony Brenton was told by the Russian Foreign Ministry that UK diplomats would be given 10 days before they were expelled in response. The Russian government also announced that it would suspend issuing visas to UK officials and froze cooperation on counterterrorism in response to Britain suspending contacts with their Federal Security Service.

Alexander Shokhin, president of the Russian Union of Industrialists and Entrepreneurs warned that British investors in Russia will "face greater scrutiny from tax and regulatory authorities. [And] They could also lose out in government tenders". Some see the crisis as originating with Britain's decision to grant Putin's former patron, Russian businessman Boris Berezovsky, political asylum in 2003. Earlier in 2007, Berezovsky had called for the overthrow of Putin.

On 10 December 2007, Russia ordered the British Council to halt work at its regional offices in what was seen as the latest round of a dispute over the murder of Alexander Litvinenko; Britain said Russia's move was illegal.

Following the Peace Mission 2007 military exercises jointly conducted by the SCO, Putin announced on 17 August 2007 the resumption on a permanent basis of long-distance patrol flights of Russia's strategic bombers that were suspended in 1992. US State Department spokesman Sean McCormack was quoted as saying in response that "if Russia feels as though they want to take some of these old aircraft out of mothballs and get them flying again, that's their decision". The announcement made during the SCO summit in the light of joint Russian-Chinese military exercises, first-ever in history to be held on Russian territory, makes some believe that Putin is inclined to set up an anti-NATO bloc or the Asian version of OPEC. When presented with the suggestion that "Western observers are already likening the SCO to a military organisation that would stand in opposition to NATO", Putin answered that "this kind of comparison is inappropriate in both form and substance". Russian Chief of the General Staff Yury Baluyevsky was quoted as saying that "there should be no talk of creating a military or political alliance or union of any kind, because this would contradict the founding principles of SCO".

The resumption of long-distance flights of Russia's strategic bombers was followed by the announcement by Russian Defense Minister Anatoliy Serdyukov during his meeting with Putin on 5 December 2007, that 11 ships, including the aircraft carrier ''Kuznetsov'', would take part in the first major navy sortie into the Mediterranean since Soviet times. The sortie was to be backed up by 47 aircraft, including strategic bombers. According to Serdyukov, this is an effort to resume regular Russian naval patrols on the world's oceans, the view that is also supported by Russian media.

In September 2007, Putin visited Indonesia and in doing so became the first Russian leader to visit the country in more than 50 years. In the same month, Putin also attended the APEC meeting held in Sydney, Australia where he met with Australian Prime Minister John Howard and signed a uranium trade deal. This was the first visit by a Russian president to Australia.

On 16 October 2007 Putin visited Iran to participate in the Second Caspian Summit in Tehran, where he met with Iranian President Mahmoud Ahmadinejad. Other participants were leaders of Azerbaijan, Kazakhstan, and Turkmenistan. This is the first visit of a Soviet or Russian leader to Iran since Joseph Stalin's participation in the Tehran Conference in 1943. At a press conference after the summit Putin said that "all our (Caspian) states have the right to develop their peaceful nuclear programmes without any restrictions". During the summit it was also agreed that its participants, under no circumstances, would let any third-party state use their territory as a base for aggression or military action against any other participant. On 26 October 2007, at a press conference following the 20th Russia-EU Summit in Portugal, Putin proposed creating a Russian-European Institute for Freedom and Democracy headquartered either in Brussels or in one of the European capitals, and added that "we are ready to supply funds for financing it, just as Europe covers the costs of projects in Russia". This newly proposed institution is expected to monitor human rights violations in Europe and contribute to development of European democracy.

Vladimir Putin strongly opposes the secession of Kosovo from Serbia. He called any support for this act "immoral" and "illegal". He described Kosovo's declaration of independence a "terrible precedent" that will come back to hit the West "in the face". He stated that the Kosovo precedent will ''de facto'' destroy the whole system of international relations, developed not over decades, but over centuries.

Another neoconservative Robert Kagan, reflecting on what underlay the fundamental rift between Putin's Russia and the EU wrote in February 2008: "Europe's nightmares are the 1930s; Russia's nightmares are the 1990s. Europe sees the answer to its problems in transcending the nation-state and power. For Russians, the solution is in restoring them. So what happens when a 21st-century entity faces the challenge of a 19th-century power? The contours of the conflict are already emerging—in diplomatic stand-offs over Kosovo, Ukraine, Georgia and Estonia; in conflicts over gas and oil pipelines; in nasty diplomatic exchanges between Russia and Britain; and in a return to Russian military exercises of a kind not seen since the Cold War. Europeans are apprehensive, with good reason."

Talks on a new Partnership and Co-operation Agreement (PCA), signed in 1997, remained stymied till the end of Putin's presidency due to vetoes by Poland and later Lithuania.

According to a document uncovered during the United States diplomatic cables leak Putin “implicitly challenged" the territorial integrity of Ukraine at the April 4, 2008, NATO-Russia Council Summit in Bucharest, Romania. A January 2009 dispute led state-controlled Russian company Gazprom to halt its deliveries of natural gas to Ukraine. During the crisis, Putin hinted that Ukraine is run by criminals who cannot solve economic problems.

Key speeches

During his terms in office Putin has made eight annual addresses to the Federal Assembly of Russia, speaking on the situation in Russia and on guidelines of the internal and foreign policy of the State (as prescribed in Article 84 of the Constitution). The 2007 election campaign of the United Russia party went under the slogan "Putin's Plan: Russia's Victory". When asked on the "Putin's plan", Vladimir Putin said that the last five Addresses contained some key parts "devoted to the state’s medium-term development", and "if all these key ideas were put together to build a coherent system, it can become the country's development plan in the medium-term."

Public image and popularity

According to public opinion surveys conducted by Levada Center, Putin's approval rating was 81% in June 2007, and the highest of any leader in the world. His popularity rose from 31% in August 1999 to 80% in November 1999 and since then it has never fallen below 65%. Observers see Putin's high approval ratings as a consequence of the significant improvements in living standards and Russia's reassertion of itself on the world scene that occurred during his tenure as President. According to the JTA, Putin is popular amongst the Russian Jewish community, who see him as a force for stability. Russia's chief rabbi, Berel Lazar, said Putin “paid great attention to the needs of our community and related to us with a deep respect.”

A joint poll by ''World Public Opinion'' in the US and NGO Levada Center  in Russia around June–July 2006 stated that "neither the Russian nor the American publics are convinced Russia is headed in an anti-democratic direction" and "Russians generally support Putin’s concentration of political power and strongly support the re-nationalization of Russia’s oil and gas industry." Russians generally support the political course of Putin and his team. A 2005 survey showed that three times as many Russians felt the country was "more democratic" under Putin than it was during the Yeltsin or Gorbachev years, and the same proportion thought human rights were better under Putin than Yeltsin.

Putin was ''Time'' magazine's Person of the Year for 2007. ''Time'' said that "TIME's Person of the Year is not and never has been an honor. It is not an endorsement. It is not a popularity contest. At its best, it is a clear-eyed recognition of the world as it is and of the most powerful individuals and forces shaping that world—for better or for worse". The choice provoked sarcasm from one of Russia's opposition leaders, Garry Kasparov, who recalled that Adolf Hitler had been ''Time'''s Man of the Year in 1938, and an overwhelmingly negative reaction from the magazine's readership.

On 4 December 2007, at Harvard University, Mikhail Gorbachev credited Putin with having "pulled Russia out of chaos" and said he was "assured a place in history", "despite Gorbachev's acknowledgment that the news media have been suppressed and that election rules run counter to the democratic ideals he has promoted".

In 2007, the tabloid ''Komsomolskaya Pravda'' published a huge photograph of a bare-chested Putin vacationing in the Siberian mountains under the headline: "Be Like Putin." In 2010, Russian TV broadcast video of Putin co-piloting a firefighting plane to dump water on a raging wildfire. Such photo ops are part of a public relations approach that, according to ''Wired'', "deliberately cultivates the macho, take-charge superhero image".

Putin's name and image are widely used in advertisement and product branding. Among the Putin-branded products are Putinka vodka, the PuTin brand of canned food, the ''Gorbusha Putina'' caviar and a collection of T-shirts with his image.

In April 2008, Putin was put on the ''Time'' 100 most influential people in the world list.

Family and personal life

On 28 July 1983 Putin married Kaliningrad-born Lyudmila Shkrebneva, at that time an undergraduate student of the Spanish branch of the Philology Department of the Leningrad State University and a former Aeroflot flight attendant. They have two daughters, Mariya Putina (born 28 April 1985 in St. Petersburg) and Yekaterina Putina (born 31 August 1986 in Dresden). The daughters grew up in East Germany and attended the German School in Moscow until his appointment as Prime Minister. After that they studied international economics at the Finance Academy in Moscow, although it was not officially reported due to security reasons. Putin also owns a black Labrador Retriever named Koni, who has been known to accompany him into staff meetings and greeting world leaders. In 2010 his Bulgarian colleague, Boyko Borisov, gave him a Karakachan Dog who then was named Buffy. Vladimir's cousin Igor Putin is a director of Master Bank.

Putin speaks fluent German. His family used to speak German at home as well. After becoming President he was reported to be taking English lessons and could be seen conversing directly with Bush and native speakers of English in informal situations, but he continues to use interpreters for formal talks. Putin spoke English in public for the first time during the state dinner in Buckingham Palace in 2003 saying but a few phrases while delivering his condolences to the Queen on the death of her mother. He made a full fluent English speech while addressing delegates at the 119th International Olympic Committee Session in Guatemala City on behalf of the successful bid of Sochi for the 2014 Winter Olympics and the 2014 Winter Paralympics. Putin enjoys watching football and he supports FC Zenit Saint Petersburg.

Religion

Putin's father was "a model communist, genuinely believing in its ideals while trying to put them into practice in his own life". With this dedication he became secretary of the Party cell in his workshop and then after taking night classes joined the factory’s Party bureau. Though his father was a "militant atheist", Putin's mother "was a devoted Orthodox believer". Though she kept no icons at home, she attended church regularly, despite the government's persecution of the Russian Orthodox Church at that time. She ensured that Putin was secretly christened as a baby and she regularly took him to services. His father knew of this but turned a blind eye. According to Putin's own statements, his religious awakening followed the serious car crash of his wife in 1993, and was deepened by a life-threatening fire that burned down their dacha in August 1996. Right before an official visit to Israel his mother gave him his baptismal cross telling him to get it blessed “I did as she said and then put the cross around my neck. I have never taken it off since.” Putin repeated the story to George W. Bush in June 2001, which might have inspired Bush to make his remark that he had "got a sense of Putin's soul". When asked whether he believes in God during his interview with ''Time'', he responded saying: "... There are things I believe, which should not in my position, at least, be shared with the public at large for everybody's consumption because that would look like self-advertising or a political striptease."

Martial arts

name	Vladimir Putin
years active	1966–present
style	Judo
rank	''6th degree black belt in Judo''
children	}}

One of Putin's favorite sports is the martial art of judo. Putin began training in sambo (a martial art that originated in the Soviet Union) at the age of 14, before switching to judo, which he continues to practice today. Putin won competitions in his hometown of Leningrad (now Saint Petersburg), including the senior championships of Leningrad in both sambo and judo. He is the President of the Yawara Dojo, the same Saint Petersburg dojo he practiced at when young. Putin co-authored a book on his favorite sport, published in Russian as ''Judo with Vladimir Putin'' and in English under the title ''Judo: History, Theory, Practice (2004).''

Though he is not the first world leader to practice judo, Putin is the first leader to move forward into the advanced levels. Currently, Putin holds a 6th dan (red/white belt) and is best known for his Harai Goshi (sweeping hip throw). Putin earned Master of Sports (Soviet and Russian sport title) in judo in 1975 and in sambo in 1973. At a state visit to Japan, Putin was invited to the Kodokan Institute, the judo headquarters, where he showed different judo techniques to the students and Japanese officials.

Putin also holds sixth-dan black belt in Kyokushin kaikan karate. He was presented the black belt in December 2009 by Japanese champion Kyokushin Karate-Do master Hatsuo Royama.

Biking

In July 2010 Putin appeared at a Russian-Ukrainian Orthodox Bikers festival in Sevastopol, Ukraine, riding a Harley-Davidson tricycle. The high council of Russian bikers movements unanimously voted to elevate him into a Hells Angel range with the nickname of Abaddon. The nickname is probably influenced by angel of death and destruction ''Abadonna'' in Mikhail Bulgakov's The Master and Margarita novel

Personal wealth

Figures released during the legislative election of 2007 put Putin's wealth at approximately 3.7 million rubles (approximately $150,000) in bank accounts, a private apartment in Saint Petersburg, 260 shares of Bank Saint Petersburg (with a December 2007 market price $5.36 per share) and two 1960s-era Volga M21 cars that he inherited from his father and does not register for on-road use. Putin's 2006 income totalled 2 million rubles (approximately $80,000). According to the data Putin did not make it into the 100 wealthiest Duma candidates of his own United Russia party.

''The Guardian'' reported in December 2010 that classified cables released by Wikileaks indicated that the Bush administration gave credence to opposition statements that Putin secretly owns a large fortune. According to former Chairman of the Russian State Duma Ivan Rybkin in 2004 and Russian political scientist Stanislav Belkovsky, Putin allegedly controlled a 4.5% stake (approx. $13 billion) in Gazprom, 37% (approx. $20 billion) in Surgutneftegaz and 50% in the oil-trading company Gunvor. Gunvor's turnover in 2007 was $40 billion. These holdings would easily make Putin Russia's richest person. In December 2007, Belkovsky elaborated: "Putin's name doesn't appear on any shareholders' register, of course. There is a non-transparent scheme of successive ownership of offshore companies and funds. The final point is in Zug, Switzerland, and Liechtenstein. Vladimir Putin should be the beneficiary owner." Asked at a press conference on 14 February 2008 whether he was the richest person in Europe, as some newspapers claimed; and if so, to state the source of his wealth, Putin said "This is plain chatter, not worthy discussion, plain bosh. They have picked this in their noses and have smeared this across their pieces of paper. This is how I view this."

Evidence in support of the allegations of Belkovsky and others was provided in December 2010 and the early months of 2011 by Sergei Kolesnikov, a businessman with ties to Putin dating from his time in St. Petersburg. In an open letter to Dmitri Medvedev and in media interviews he claimed that he and other named individuals had participated in a scheme that involved a proportion of donations from businessmen including Roman Abramovich and Alexei Mordashov, ostensibly intended for health infrastructure projects, being siphoned off into a Switzerland-based investment fund managed for Putin's benefit. Besides more conventional investments, the fund was allegedly used for the construction of a large Italianate residence for Putin's personal use, nicknamed Putin's Palace, located on the Black Sea coast near the village of Praskoveevka in Krasnodar Krai, Russia. Kolesnikov also said that state resources were used for the construction. The Kremlin denied the allegations; investigative journalists at Novaya Gazeta reported finding a paper trail leading to the Kremlin.

Honors

In September 2006, France's president Jacques Chirac awarded Vladimir Putin the ''Grand-Croix'' (Grand Cross) of the Légion d'honneur, the highest French decoration, to celebrate his contribution to the friendship between the two countries. This decoration is usually awarded to the heads of state considered very close to France.

In 2007, Putin was named ''Time'' magazine's Person of the Year.

On 12 February 2007 Saudi King Abdullah awarded Putin the King Abdul Aziz Award, Saudi Arabia's top civilian decoration. On 10 September 2007 UAE President Khalifa bin Zayed Al Nahyan awarded Putin the Order of Zayed, the UAE's top civil decoration. In December 2007 Putin was named Person of the Year by Expert magazine, an influential and respected Russian business weekly. In February 2011 Kyrgyzstan parliament named a peak in Tian Shan mountains Vladimir Putin Peak.

References and notes

Bibliography

Burrett, Tina. ''Television and Presidential Power in Putin's Russia'' (Routledge; 2010) 300 pages; studies role of increased control of the media in Putin's expansion of presidential and state power.

Kanet Roger E., ed. ''Russian Foreign Policy in the 21st Century'' (Palgrave Macmillan; 2011) 295 pages; essays by experts

External links

Prime Minister of the Russian Federation

Speech at the 60th Session of the UN General Assembly

Category:1952 births Category:Acting Presidents of Russia Category:Beslan school hostage crisis Category:Directors of the Federal Security Service Category:Eastern Orthodox Christians from Russia Category:Grand Croix of the Légion d'honneur Category:Independent politicians Category:KGB officers Category:Kyokushin kaikan practitioners Category:Living people Category:Moscow theater hostage crisis Category:People from Saint Petersburg Category:People of the 2008 South Ossetia war Category:People of the Chechen wars Category:Plagiarism controversies Category:Presidents of Russia Category:Prime Ministers of the Russian Federation Category:Russian judoka Category:Russian Orthodox Christians Category:Russian sambo practitioners Category:Saint Petersburg State University alumni Category:Soviet military personnel Category:United Russia politicians Category:Recipients of the Order of St. Sava

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Coordinates	57°49′″N28°20′″N
Name	Mitt Romney
Alt	Portrait of Mitt Romney
Order	70th
Office	Governor of Massachusetts
Term start	January 2, 2003
Term end	January 4, 2007
Lieutenant	Kerry Healey
Predecessor	Paul Cellucci (Governor)Jane Swift (acting)
Successor	Deval Patrick
Birth date	March 12, 1947
Birth place	Detroit, Michigan
Birthname	Willard Mitt Romney
Nationality	American
Party	Republican
Residence	Belmont, MassachusettsWolfeboro, New HampshireSan Diego, California
Spouse
Children	Tagg (b. 1970) Matt (b. 1971) Josh (b. 1975) Ben (b. 1978) Craig (b. 1981)
Alma mater	Brigham Young University (B.A.)Harvard Law School (J.D.)Harvard Business School (M.B.A.)
Profession	Businessman, politician, author
Religion	The Church of Jesus Christ of Latter-day Saints (Mormon)
Signature	Mitt Romney Signature.svg }}

Willard Mitt Romney (born March 12, 1947) is an American businessman and politician. He was the 70th Governor of Massachusetts from 2003 to 2007 and is a candidate for the 2012 Republican Party presidential nomination.

Romney is the son of George W. Romney (the former Governor of Michigan) and Lenore Romney. He was raised in Bloomfield Hills, Michigan and then served as a Mormon missionary in France. He received his undergraduate degree from Brigham Young University, and thereafter earned Juris Doctor/Master of Business Administration joint degrees from Harvard Law School and Harvard Business School. Romney entered the management consulting business which led to a position at Bain & Company, eventually serving as its CEO to lead it out of crisis. He was also co-founder and head of the spin-off company Bain Capital, a private equity investment firm which became highly profitable and one of the largest such firms in the nation, and the wealth Romney accumulated there would help fund all of his future political campaigns. He ran as the Republican candidate in the 1994 U.S. Senate election in Massachusetts but lost to incumbent Ted Kennedy. Romney organized and steered the 2002 Winter Olympics as President and CEO of the Salt Lake Organizing Committee, and helped turn the troubled Games into a financial success.

Romney won the election for Governor of Massachusetts in 2002, but did not seek reelection in 2006. During his term, he presided over a series of spending cuts and increases in fees that eliminated a projected $3 billion deficit. He also signed into law the Massachusetts health care reform legislation, which provided near-universal health insurance access via subsidies and state-level mandates and was the first of its kind in the nation. During the course of his political career, his positions or rhetorical emphasis have shifted more towards American conservatism in several areas.

Romney ran for the Republican nomination in the 2008 U.S. presidential election, winning several caucus and primary contests, though he ultimately lost the nomination to John McCain. In the following years he published ''No Apology: The Case for American Greatness'' and gave speeches and raised campaign funds on behalf of fellow Republicans. On June 2, 2011, Romney announced that he would seek the 2012 Republican presidential nomination. Political observers and public opinion polls place him as a front-runner in the race.

Early life

Romney was born in Detroit. He is the youngest child of George W. Romney, a man of humble upbringing who by 1948 had become an automobile executive, and Lenore Romney (née LaFount). His mother was a native of Logan, Utah and his father had been born in Mexico to American parents. The three siblings before him were Margo Lynn, Jane LaFount, and G. Scott, followed by Mitt after a gap of six years. Romney was named after hotel magnate J. Willard Marriott, his father's best friend, and his father's cousin Milton "Mitt" Romney, 1925–1929 quarterback for the Chicago Bears.|group="nb"}}

When he was five, the family moved from Detroit to the affluent suburb of Bloomfield Hills. His father became CEO of American Motors and turned the company around from the brink of bankruptcy; by the time he was twelve, his father had become a nationally known figure in print and on television. Romney idolozed his father, read automotive trade magazines, kept abreast of automotive developments, and aspired to be an executive in the industry himself one day. His father also presided over the Detroit Stake of The Church of Jesus Christ of Latter-day Saints to which the family belonged. Romney went to public elementary schools and then from seventh grade on, attended Cranbrook School in Bloomfield Hills, a private boys preparatory school of the classic mold where he was the lone Mormon and where many students came from even more privileged backgrounds. He was not particularly athletic and at first did not excel at academics. While a sophomore, he participated in the campaign in which his father was elected Governor of Michigan. George Romney was re-elected twice; Mitt worked for him as an intern in the governor's office, and was present at the 1964 Republican National Convention when his moderate father battled conservative party nominee Barry Goldwater over issues of civil rights and ideological extremism. Romney had a steady set of chores and worked summer jobs, including being a security guard at a Chrysler plant.

Initially a manager for the ice hockey team and a pep squad member, during his final year at Cranbook, Romney joined the cross country running team and improved academically, but was still not a star pupil. His social skills were strong, however, and he won an award for those "whose contributions to school life are often not fully recognized through already existing channels." Romney was an energetic child who enjoyed pranks.|group="nb"}} In March of his senior year, he began dating Ann Davies, two years behind him, whom he had once known in elementary school; she attended the private Kingswood School, the sister school to Cranbrook. The two informally agreed to marriage around the time of his June 1965 graduation.

Experiences from 1965 to 1975

Romney attended Stanford University for a year. Although the campus was becoming radicalized with the beginnings of 1960s social and political movements, he kept a well-groomed appearance and enjoyed traditional campus events. In May 1966, he was part of a counter-protest against a group staging a sit-in in the university administration building in opposition to draft status tests.

In July 1966, Romney left for 30 months in France as a Mormon missionary, a traditional duty that his father and other relatives had done. He arrived in Le Havre with ideas about how to change and promote the French Mission, while facing physical and economic deprivation in their cramped quarters. Rules against drinking, smoking, and dating were strictly enforced. Like most Mormon missionaries, he did not gain many converts, with the nominally Catholic but secular, wine-loving French people proving especially resistant to a religion that prohibits alcohol. He became demoralized, and later recalled it as the only time when "most of what I was trying to do was rejected." In Nantes, Romney was bruised defending two female missionaries against a horde of local rugby players. He continued to work hard; having grown up in Michigan rather than the more insular Utah world, Romney was better able to interact with the French. He was promoted to zone leader in Bordeaux in early 1968 and subsequently became assistant to the mission president in Paris, the highest position for a missionary. Romney's support for the U.S. role in the Vietnam War were only reinforced when the French greeted him with hostility over the matter and he debated them in return. He also witnessed the May 1968 general strike and student uprisings.

In June 1968, an automobile Romney was driving in southern France was hit by another vehicle, seriously injuring him and killing one of his passengers, the wife of the mission president. As they drove through the village of Bernos-Beaulac, a Mercedes that was passing a truck missed a curve and suddenly swerved into the opposite lane and hit the Citroën DS Romney was driving in a head-on collision. Trapped between the steering wheel and door, the unconscious and seriously injured Romney had to be pried from the car; a French police officer mistakenly wrote ''Il est mort'' in his passport. The wife of the mission president was killed and other passengers were seriously injured as well. George Romney relied on his friend Sargent Shriver, the U.S. Ambassador to France, to go to the local hospital and discover that Mitt had survived. The fault for the accident was attributed completely to the driver of the other vehicle. Romney had suffered broken ribs, a fractured arm, a concussion, and facial injuries, but recovered quickly without needing surgery.|name="nb-acc"|group="nb"}} Fault for the accident was attributed completely to the other driver. After recovering, Romney became co-acting president of a mission demoralized and disorganized by the May civil disturbances and the car accident. Romney rallied and motivated the others and they met an ambitious goal of 200 baptisms for the year, the most for the mission in a decade. By the end of his stint in December 1968, Romney was overseeing the work of 175 fellow members. The experience in France changed Romney. It showed him the fragility of life and the need for a seriousness of purpose, and he gained a capacity for organization and a record of success that he had theretofore lacked. It also represented a crucible, after having been only a half-hearted Mormon growing up: "On a mission, your faith in Jesus Christ either evaporates or it becomes much deeper. For me it became much deeper."

While he was away, Ann Davies had converted to the LDS Church, guided by George Romney, and had begun attending Brigham Young University. Mitt was nervous that she had been wooed by others while he was away, and indeed she had dated others, but at their first meeting following his return they reconnected and agreed to quickly get married. That happened on March 21, 1969, in a Bloomfield Hills civil ceremony presided over by a church elder; the following day the couple flew to Utah for a wedding ceremony at the Salt Lake Temple.

Romney began attending Brigham Young too. He had missed much of the tumultuous American anti-Vietnam War movement while away, and was surprised to learn that his father had turned against the war during his ill-fated 1968 presidential campaign. Regarding the military draft, Romney had initially gotten a student deferment, then like most other Mormon missionaries had received a ministerial deferment while in France, then got another student deferment. When those ran out, his high number in the December 1969 draft lottery (300) meant he would not be selected.

At culturally conservative Brigham Young, Romney continued to be separated from much of the upheaval of the era, and did not join the few protests against the war or the LDS Church's policy against giving full membership to blacks. He became president and successful fundraiser for the all-male Cougar Club and showed a new-found discipline in his studies. In his senior year he took leave to work as driver and advance man for his mother Lenore Romney's eventually unsuccessful 1970 campaign for U.S. Senator from Michigan. He graduated from Brigham Young in 1971, earning a Bachelor of Arts in English and giving commencement addresses to both his own College of Humanities and to the whole university.

The Romneys' first son, Tagg, was born in 1970 while both were undergraduates at Brigham Young and living in a basement apartment. They subsequently welcomed Matt (1971), Josh (1975), Ben (1978), and Craig (1981). Ann Romney's work as a stay-at-home mom would enable her husband to pursue his career.

Romney still wanted to pursue a business path, but his father, by now serving in President Richard Nixon's cabinet as U.S. Secretary of Housing and Urban Development, advised that a law degree would be valuable. Thus Romney became one of only 15 students to enroll at the recently created joint Juris Doctor/Master of Business Administration four-year program coordinated between Harvard Law School and Harvard Business School. Fellow students noted Romney's strong work ethic and buttoned-down appearance; he lived in a Belmont, Massachusetts house with Ann and by now two children. He graduated in 1975 ''cum laude'' from the law school, in the top third of that class, and was named a Baker Scholar for graduating in the top five percent of his business school class.

Business career

Romney was heavily recruited and, after graduation, chose to remain in Massachusetts and go to work for Boston Consulting Group (BCG), thinking that working as a management consultant to a variety of companies would prepare him for a future job as a chief executive. | author=Heinlein, Gary | newspaper=The Detroit News | date=February 14, 2007}} but never worked as a lawyer. |group="nb"}} Romney's legal and business education proved valuable in this role, and he quickly became a rising star while applying BCG principles such as the growth-share matrix.

In 1977, he was hired away by Bain & Company, a management consulting firm in Boston that had been formed a few years earlier by Bill Bain and other former BCG employees. Bain would later say of the thirty-year-old Romney, "He had the appearance of confidence of a guy who was maybe ten years older." With Bain & Company, Romney proved adept at learning the "Bain way", which consisted of immersing itself in each client's business, and not simply to issue recommendations, but to stay with the company until they were effectively changed for the better. With a record of success with clients such as the Monsanto Company, Outboard Marine Corporation, Burlington Industries, and Corning Incorporated, Romney became a vice president of the firm in 1978 and within a few years one of its best consultants. Romney became a firm believer in Bain's methods; he later said, "The idea that consultancies should not measure themselves by the thickness of their reports, or even the elegance of their writing, but rather by whether or not the report was effectively implemented was an inflection point in the history of consulting."

thumb|right|Logo of company that Romney co-foundedRomney was restless for a company of his own to run, and in 1983 Bill Bain offered him the chance to head a new venture that would buy into companies, have them benefit from Bain techniques, and then reap higher rewards than just consulting fees. Romney was initially cautious about accepting the offer, and Bain re-arranged the terms in a complicated partnership structure so that there was no financial or professional risk to Romney. Thus, in 1984, Romney left Bain & Company to co-found the spin-off private equity investment firm, Bain Capital. Bain and Romney spent a year raising the $37 million in investment money needed to start the new operation, which had fewer than ten employees. As general partner of the new firm, Romney was frugal and cautious, spending little on office appearance and finding the weak spots in so many potential deals that by 1986, very few had been done. At first, Bain Capital focused on venture capital opportunities. Their first big success came with a 1986 investment to help start Staples Inc., after founder Thomas G. Stemberg convinced Romney of the market size for office supplies; Bain Capital eventually reaped a nearly sevenfold return on its investment, and Romney sat on the Staples board of directors for over a decade.

Romney soon switched Bain Capital's focus from startups to the relatively new business of leveraged buyouts: buying existing firms with money mostly borrowed against their assets, partnering with existing management to apply the "Bain way" to their operations (rather than the hostile takeovers practiced in other leverage buyout scenarios), and then selling them off in a few years. Bain Capital lost most of its money in many of its early leveraged buyouts, but then started finding successes with spectacular returns. Indeed, during the 14 years Romney headed the company, Bain Capital's average annual internal rate of return on realized investments was 113 percent. Romney excelled at presenting and selling the deals the company made. The firm initially gave a cut of its profits to Bain & Company, but Romney later persuaded Bain to give that up.

The firm successfully invested in or acquired many well-known companies such as Accuride, Brookstone, Domino's Pizza, Sealy Corporation, Sports Authority, and Artisan Entertainment, as well as lesser-known companies in the industrial and medical sectors. Romney's cautious instincts were still in force at times; he wanted to drop a Bain Capital hedge fund that initially lost money, but other partners prevailed and it eventually gained billions. He also personally opted out of the Artisan Entertainment deal, not wanting to profit from a studio that produced R-rated films. Romney was on the board of directors of Damon Corporation, a medical testing company later found guilty of defrauding the government; Bain Capital tripled its investment before selling off the company, with the fraud being discovered by the new owners (Romney was never implicated). In some cases Romney had little involvement with a company once acquired.

Bain Capital's leveraged buyouts sometimes led to layoffs, either soon after acquisition or later after the firm had left. Bain Capital officials later said that overall, more jobs were added than lost due to these buyouts. In any case, maximizing the value of acquired companies and the return to Bain's investors, not job creation, was the firm's fundamental goal, as it was for most private equity operations. Regarding job losses, Romney later said, "Sometimes the medicine is a little bitter but it is necessary to save the life of the patient. My job was to try and make the enterprise successful, and in my view the best security a family can have is that the business they work for is strong." Bain Capital's acquisition of Ampad exemplified a deal where it profited handsomely from early payments and management fees, even though the subject company itself ended up going into bankruptcy. Bain was among the private equity firms that took the most such fees, and more cases happened as Romney was leaving the firm. He said in retrospect, "It is one thing that if I had a chance to go back I would be more sensitive to. It is always a balance. Great care has got to be taken not to take a dividend or a distribution from a company that puts that company at risk. [Having taken a big payment from a company that later failed] would make me sick, sick at heart."

In 1990, Romney was asked to return to Bain & Company, which was facing financial collapse. He was announced as its new CEO in January 1991 (but drew only a symbolic salary of one dollar). Romney managed an effort to restructure the firm's employee stock-ownership plan, real-estate deals and bank loans, while rallying the firm's thousand employees, imposing a new governing structure that included Bain and the other founding partners giving up control, and increasing fiscal transparency. Within about a year, he had led Bain & Company through a highly successful turnaround and returned the firm to profitability without further layoffs or partner defections. He turned Bain & Company over to new leadership and returned to Bain Capital in December 1992.

During his years in business, Romney tithed by giving millions of dollars to the LDS Church. He served as ward bishop for Belmont from 1984 to 1986, acting as the ecclesiastical and administrative head of his congregation. From 1986 to 1994 he presided over the Boston Stake, which included more than a dozen congregations in eastern Massachusetts.

Romney left Bain Capital in February 1999 to serve as the President and CEO of the 2002 Salt Lake City Olympic Games Organizing Committee. By that time, Bain Capital was on its way to being one of the top private equity firms in the nation, having increased its number of partners from 5 to 18, having 115 employees overall, and having $4 billion under its management. Bain Capital's approach of applying consulting expertise to the companies it invested in became widely copied within the private equity industry. His experience at Bain & Company and Bain Capital gave Romney a business-oriented world view – centering around a hate of waste and inefficiency, a love for data and charts and analysis and presentation, and a belief in keeping an open mind and seeking opposing points of view – that he would take with him to the public sector. As a result of his business career, by 2007 Romney and his wife had a net worth of between $190 and $250 million, most of it held in blind trusts. Although gone, Romney received a passive profit share as a retired partner in some Bain Capital entities. An additional blind trust existed in the name of the Romneys' children and grandchildren that was valued at between $70 and $100 million as of 2007. The couple's net worth remained in the same range as of 2011, and was still held in blind trusts.

1994 U.S. senatorial campaign

Romney had been thinking about entering politics for a while. He decided to take on longtime incumbent Democratic Senator Ted Kennedy, who was more vulnerable than usual in 1994 – in part because of the unpopularity of the Democratic Congress as a whole and also because this was Kennedy's first election since the William Kennedy Smith trial in Florida, in which Kennedy had taken some public relations hits regarding his character. Romney changed his affiliation from Independent to Republican in October 1993 and formally announced his candidacy in February 1994. He stepped down from his position at Bain Capital during the run.

Romney came from behind to win the Massachusetts Republican Party's nomination for U.S. Senate after buying substantial television time to get out his message, gaining overwhelming support in the state party convention, and then defeating businessman John Lakian in the September 1994 primary with over 80 percent of the vote. In the general election, Kennedy faced the first serious re-election challenger of his career in the young, telegenic, and very well-funded Romney. Romney ran as a fresh face, as a successful entrepreneur who stated he had created ten thousand jobs, and as a Washington outsider with a strong family image and moderate stands on social issues. Romney stated: "Ultimately, this is a campaign about change." After two decades out of public view, his father George re-emerged during the campaign as well.

Romney's campaign was effective in portraying Kennedy as soft on crime, but had trouble establishing its own positions in a consistent manner. By mid-September 1994, polls showed the race to be approximately even. Kennedy responded with a series of attack ads, which focused both on Romney's seemingly shifting political views on issues such as abortion and on the treatment of workers at a paper products plant owned by Romney's Bain Capital. Kennedy and Romney held a widely watched late October debate without a clear winner, but by then Kennedy had pulled ahead in polls and stayed ahead afterward. Romney spent over $7 million of his own money, with Kennedy spending more than $10 million from his campaign fund, mostly in the last weeks of the campaign (this was the second-most expensive race of the 1994 election cycle, after the Dianne Feinstein–Michael Huffington Senate race in California).

In the November general election, despite a disastrous showing for Democrats overall, Kennedy won the election with 58 percent of the vote to Romney's 41 percent, the smallest margin in Kennedy's eight re-election campaigns for the Senate.

2002 Winter Olympics

Romney returned to Bain Capital the day after the election, but still smarted from the loss, and told his brother, "I never want to run for something again unless I can win." His father died in 1995 and his mother in 1998, and Romney felt restless as the decade neared a close; the goal of just making more money was losing its appeal to him. He had stepped down as Boston Stake president in order to run for the Senate, and while still teaching Sunday School, was largely uninvolved in the long and somewhat controversial construction of a Mormon temple in Belmont. Ann Romney was diagnosed with multiple sclerosis in 1998; Romney described watching her fail a series of neurological tests as the worst day of his life. After two years of severe difficulties with the disease, she found in Park City, Utah (where the couple had built a vacation home) a mixture of mainstream, alternative, and equestrian therapies that gave her a lifestyle mostly without limitations. When the offer came for Romney to take over the troubled 2002 Olympic Winter Games, to be held in Salt Lake City in Utah, she urged him to take it, and eager for a new challenge, he did. On February 11, 1999, Romney was hired as the new president and CEO of the Salt Lake Organizing Committee.

Before Romney came on, the event was running $379 million short of its revenue benchmarks. Plans were being made to scale back the games to compensate for the fiscal crisis and there were fears the games might be moved away entirely. The Games had also been damaged by allegations of bribery involving top officials, including prior Salt Lake Olympic Committee president and CEO Frank Joklik. Joklik and committee vice president Dave Johnson were forced to resign. Romney's appointment faced some initial criticism from non-Mormons, and fears from Mormons, that it represented cronyism or gave the games too Mormon an image.

Romney revamped the organization's leadership and policies, reduced budgets, and boosted fund raising. He soothed worried corporate sponsors and recruited many new ones. He admitted past problems, listened to local critics, and rallied Utah's citizenry with a sense of optimism. Romney worked to ensure the safety of the Games following the September 11, 2001 terrorist attacks by ignoring those who suggested the games be called off and coordinating a $300 million security budget. He became the public face of the Olympic effort, appearing in countless photographs and news stories and even on Olympics souvenir pins. Romney's omnipresence irked those who thought he was taking too much of the credit for the success, or had exaggerated the state of initial distress, or was primarily looking to improve his own image. Overall he oversaw a $1.32 billion budget, 700 employees, and 26,000 volunteers.

Despite the initial fiscal shortfall, the Games ended up clearing a profit of $100 million, not counting the $224.5 million in security costs contributed by outside sources. Romney broke the record for most private money raised by any individual for an Olympics games, summer or winter. His performance as Olympics head was rated positively by 87 percent of Utahns. Romney and his wife contributed $1 million to the Olympics, and he donated to charity the $1.4 million in salary and severance payments he received for his three years as president and CEO.

Romney was widely praised for his successful efforts with the 2002 Winter Olympics including by President George W. Bush, and it solidified his reputation as a turnaround artist. Harvard Business School taught a case study based around Romney's successful actions. Romney wrote a book about his experience titled ''Turnaround: Crisis, Leadership, and the Olympic Games'', published in 2004. The role gave Romney experience in dealing with federal, state, and local entities, a public persona he had previously lacked, and the chance to re-launch his political aspirations. Indeed, he was mentioned as a possible candidate for statewide office in both Massachusetts and Utah, and also as possibly joining the Bush administration.

Governor of Massachusetts

2002 gubernatorial campaign

In 2002, Republican Acting Governor Jane Swift's administration was plagued by political missteps and personal scandals. Many Republicans viewed her as a liability and considered her unable to win a general election against a Democrat. Prominent GOP activists campaigned to persuade Romney to run for governor. One poll taken at that time showed Republicans favoring Romney over Swift by more than 50 percentage points. In March 2002, Swift decided not to seek her party's nomination, and so Romney was unopposed in the Republican party primary.

Massachusetts Democratic Party officials contested Romney's eligibility to run for governor, citing residency issues involving Romney's time in Utah as president of the Salt Lake City Olympic Committee. In June 2002, the Massachusetts State Ballot Law Commission unanimously ruled that Romney was eligible to run for office.

Romney ran as a political outsider again. Supporters of Romney hailed his business record, especially his success with the 2002 Olympics, as the record of someone who would be able to bring a new era of efficiency into Massachusetts politics. The campaign was the first to use microtargeting techniques, in which fine-grained groups of voters were reached with narrowly tailored messaging. Romney contributed over $6 million to his own campaign during the election, a state record at the time. Romney was elected Governor in November 2002 with 50 percent of the vote over his Democratic opponent, Massachusetts State Treasurer Shannon O'Brien, who received 45 percent.

Tenure, 2003–2007

Romney was sworn in as the 70th governor of Massachusetts on January 2, 2003. Both houses of the Massachusetts state legislature held large Democratic majorities. He picked his cabinet and advisors more on managerial abilities than partisan affiliation. Upon entering office in the middle of a fiscal year, Romney faced an immediate $650 million shortfall and a projected $3 billion deficit for the next year. Unexpected revenue of $1.0–1.3 billion from a previously enacted capital gains tax increase and $500 million in unanticipated federal grants decreased the deficit to $1.2–1.5 billion. Through a combination of spending cuts, increased fees, and removal of corporate tax loopholes, by 2006 the state had a $600–700 million surplus.

thumb|left|upright|alt=Mitt Romney resting on a wooden desk, flanked by an American flag, a picture of his wife, a lamp, and a painting of mountains|Official Massachusetts State House portrait of Governor Mitt Romney, by artist [[Richard Whitney (artist)|Richard Whitney]]Romney supported raising various fees by more than $300 million, including those for driver's licenses, marriage licenses, and gun licenses. Romney increased a special gasoline retailer fee by 2 cents per gallon, generating about $60 million per year in additional revenue. (Opponents said the reliance on fees sometimes imposed a hardship on those who could least afford them.) Romney also closed tax loopholes that brought in another $181 million from businesses over the next two years. The state legislature, with Romney's support, also cut spending by $1.6 billion, including $700 million in reductions in state aid to cities and towns. The cuts also included a $140 million reduction in state funding for higher education, which led state-run colleges and universities to increase tuition by 63 percent over four years. Romney sought additional cuts in his last year as Massachusetts governor by vetoing nearly 250 items in the state budget, but all of them were overridden by the Democratic-dominated legislature.

The cuts in state spending put added pressure on local property taxes; the share of town and city revenues coming from property taxes rose from 49 percent to 53 percent. The combined state and local tax burden in Massachusetts increased during Romney's governorship but still was below the national average. According to the Tax Foundation, that per capita burden was 9.8 percent in 2002 (below the national average of 10.3 percent), and 10.5 percent in 2006 (below the national average of 10.8 percent).

Romney was at the forefront of a movement to bring near-universal health insurance coverage to the state, after a business executive told him at the start of his term that doing so would be the best way he could help people and after the federal government, due to the rules of Medicaid funding, threatened to cut $385 million in those payments to Massachusetts if the state did not reduce the number of uninsured recipients of health care services. Despite not having campaigned on the idea of universal health insurance, Romney decided that because people without insurance still received expensive health care, the money spent by the state for such care could be better used to subsidize insurance for the poor.

After positing that any measure adopted not raise taxes and not resemble the previous decade's failed "Hillarycare" proposal, Romney formed a team of consultants from different political backgrounds that beginning in late 2004 came up with a set of innovative proposals more ambitious than an incremental one from the Massachusetts Senate and more acceptable to him than one from the Massachusetts House of Representatives that incorporated a new payroll tax. In particular, Romney successfully pushed for incorporating an individual mandate at the state level. Past rival Ted Kennedy, who had made universal heath coverage his life's work and who over time developed a warm relationship with Romney, gave Romney's plan a positive reception, which encouraged Democratic legislators to work with it. The effort eventually gained the support of all major stakeholders within the state, and Romney helped break a logjam between rival Democratic leaders in the legislature.

On April 12, 2006, Romney signed the resulting Massachusetts health reform law, which requires nearly all Massachusetts residents to buy health insurance coverage or face escalating tax penalties such as the loss of their personal income tax exemption. The bill also establishes means-tested state subsidies for people who do not have adequate employer insurance and who make below an income threshold, by using funds previously designated to compensate for the health costs of the uninsured. He vetoed eight sections of the health care legislation, including a controversial $295-per-employee assessment on businesses that do not offer health insurance and provisions guaranteeing dental benefits to Medicaid recipients. The legislature overrode all eight vetoes; Romney's communications director Eric Fehrnstrom responded by saying, "These differences with the Legislature are not essential to the goal of getting everyone covered with insurance." Romney said of the measure overall, "There really wasn't Republican or Democrat in this. People ask me if this is conservative or liberal, and my answer is yes. It's liberal in the sense that we're getting our citizens health insurance. It's conservative in that we're not getting a government takeover." The law was the first of its kind in the nation and became the signature achievement of Romney's term in office.|group="nb"}}

At the beginning of his governorship, Romney opposed same-sex marriage and civil unions, but advocated tolerance and supported some domestic partnership benefits. Faced with the dilemma of choosing between same-sex marriage or civil unions after the November 2003 Massachusetts Supreme Judicial Court decision legalizing same-sex marriages (''Goodridge v. Department of Public Health''), Romney reluctantly backed a state constitutional amendment in February 2004 that would have banned same-sex marriage but still allow civil unions, viewing it as the only feasible way to ban same-sex marriage in Massachusetts. In May 2004 Romney instructed town clerks to begin issuing marriage licenses to same-sex couples, but citing a 1913 law that barred out-of-state residents from getting married in Massachusetts if their union would be illegal in their home state, no marriage licenses were to be issued to out-of-state same-sex couples not planning to move to Massachusetts. In June 2005, Romney abandoned his support for the compromise amendment, stating that the amendment confused voters who oppose both same-sex marriage and civil unions. Instead, Romney endorsed a petition effort led by the Coalition for Marriage & Family that would have banned same-sex marriage and made no provisions for civil unions. In 2004 and 2006 he urged the U.S. Senate to vote in favor of the Federal Marriage Amendment.

In 2005, Romney revealed a change of view regarding abortion, moving from an "unequivocal" pro-choice position expressed during his 2002 campaign to a pro-life one where he opposed ''Roe v. Wade''. He vetoed a bill on pro-life grounds that would expand access to emergency contraception in hospitals and pharmacies.

Romney generally used the bully pulpit approach towards promoting his agenda, staging well-organized media events to appeal directly to the public rather than pushing his proposals in behind-doors sessions with the state legislature. Romney was especially effective in dealing with a crisis of confidence in Boston's Big Dig project following a fatal ceiling collapse in 2006, wresting control of the project from the Massachusetts Turnpike Authority and helping ensure that it would eventually complete.

During 2004, Romney spent considerable effort trying to bolster the state Republican Party, but it failed to gain any seats in the state legislative elections that year. Given a prime-time appearance at the 2004 Republican National Convention, Romney was already being discussed as a potential 2008 presidential candidate. Midway through his term, Romney decided that he wanted to stage a full-time run for president, and on December 14, 2005, Romney announced that he would not seek re-election for a second term as governor. As chair of the Republican Governors Association, Romney traveled around the country, meeting prominent Republicans and building a national political network; he spent part or all of more than 200 days out of state during 2006, preparing for his run. Romney's frequent out-of-state travel contributed towards his approval rating declining in public polls towards the end of his term. He conceded that 2006 would be a difficult year for Republicans and that they would likely lose gubernatorial seats, including possibly his own. The weak condition of the Republican state party was one of several factors that led to Democrat Deval Patrick's lopsided win over Republican Kerry Healey in the 2006 Massachusetts gubernatorial election.

Romney filed to register a presidential campaign committee with the Federal Election Commission on his penultimate day in office as governor. Romney's term ended January 4, 2007.

2008 presidential campaign

Romney formally announced his candidacy for the 2008 Republican nomination for president on February 13, 2007, at the Henry Ford Museum in Dearborn, Michigan. In his speech, Romney frequently invoked his father and his own family and stressed experiences in the private, public, and voluntary sectors that had brought him to this point. He said, "Throughout my life, I have pursued innovation and transformation," and casting himself as a political outsider, said, "I do not believe Washington can be transformed from within by a lifelong politician."

thumb|left|alt=Mitt Romney addressing an audience from atop a stage|Romney holding an "Ask Mitt Anything" session in [[Ames, Iowa|Ames, Iowa, in May 2007]]The assets that Romney's campaign began with included his résumé of success in the business world and his rescuing of the Salt Lake Olympics, which matched the commonly held notion that American industry had star players who could straighten out what was wrong in the nation's capital. Romney also had solid political experience as governor together with a political pedigree courtesy of his father, a strong work ethic and energy level, and a large, wholesome-looking family that seemed so perfect as to be off-putting to some voters. Ann Romney, who had become an outspoken advocate for those with multiple sclerosis, was in remission and would be an active participant in his campaign, helping to soften his political personality. Moreover, with his square jaw, handsome face, and ample hair graying at the temples, Mitt Romney matched one of the common images of what a president should look like. Romney's liabilities included having run for senator and served as governor in one of the nation's most liberal states, having taken some positions there that were opposed by the party's conservative base, and subsequently shifting those positions. The candidate's Mormon religion was also viewed with suspicion and skepticism by some in the Evangelical portion of the party.

Romney assembled for his campaign a veteran group of Republican staffers, consultants, and pollsters. He was little-known nationally, though, and stayed around the 10 percent range in Republican preference polls for the first half of 2007. Romney's strategy was to win the first two big contests, the Iowa caucuses and the New Hampshire primary, and carry the momentum and visibility gained through the big Super Tuesday primaries and on to the nomination. He proved the most effective fundraiser of any of the Republican candidates, with his Olympics ties helping him with fundraising from Utah residents and from sponsors and trustees of the games. He also partly financed his campaign with his own personal fortune. These resources, combined with his August 2007 win in the Iowa Straw Poll and the mid-year near-collapse of nominal front-runner John McCain's campaign, made Romney a threat to win the nomination and the focus of the other candidates' attacks. Romney's staff suffered from internal strife and the candidate himself was indecisive at times, constantly asking for more data before making a decision. Persistent questions about the role of religion in Romney's life, as well as Southern Baptist minister and former Governor of Arkansas Mike Huckabee's rise in the polls based upon an explicitly Christian-themed campaign, led to the December 6, 2007, "Faith in America" speech.

thumb|upright|right|alt=Mitt and Ann Romney standing side by side against an American flag|Mitt and Ann Romney in late December 2007 at a campaign event in Londonderry, New HampshireIn the January 3, 2008, Iowa Republican caucuses, the first contest of the primary season, Romney received 25 percent of the vote and placed second to the vastly outspent Huckabee, who received 34 percent. Of the 60 percent of caucus-goers who were evangelical Christians, Huckabee was supported by about half of them while Romney by only a fifth. A couple of days later, Romney won the lightly contested Wyoming Republican caucuses. At a Saint Anselm College debate, Huckabee and McCain pounded away at Romney's image as a flip flopper. Indeed, this label would stick to Romney through the campaign (but was one that Romney rejected as unfair and inaccurate, except for his acknowledged change of mind on abortion). Romney seemed to approach the campaign as a management consulting exercise, and showed a lack of personal warmth and political feel; journalist Evan Thomas wrote that Romney "came off as a phony, even when he was perfectly sincere." Romney's staff would conclude that competing as a candidate of social conservatism and ideological purity rather than of pragmatic competence had been a mistake.

Romney finished in second place by five percentage points to the resurgent McCain in the next-door-to-his-home-state New Hampshire primary on January 8. Romney rebounded to win the January 15 Michigan primary over McCain by a solid margin, capitalizing on his childhood ties to the state and his vow to bring back lost automotive industry jobs which was seen by several commentators as unrealistic.|group="nb"}} On January 19, Romney won the lightly contested Nevada caucuses, but placed fourth in the intense South Carolina primary, where he had effectively ceded the contest to his rivals. McCain gained further momentum with his win in South Carolina, leading to a showdown between him and Romney in the Florida primary.

thumb|left|alt=Mitt Romney surrounded by people, holding a microphone and smiling|Romney at a rally in Michigan in mid-January 2008For ten days, Romney campaigned intensively on economic issues and the burgeoning subprime mortgage crisis, while McCain repeatedly and inaccurately asserted that Romney favored a premature withdrawal of U.S. forces from Iraq.|group="nb"}} McCain won key last-minute endorsements from Florida Senator Mel Martinez and Governor Charlie Crist, which helped push him to a five percentage point victory on January 29. Although many Republican officials were now lining up behind McCain, Romney persisted through the nationwide Super Tuesday contests on February 5. There he won primaries or caucuses in several states, including Massachusetts, Alaska, Minnesota, Colorado and Utah, but McCain won more, including large states such as California and New York. Trailing McCain in delegates by a more than two-to-one margin, Romney announced the end of his campaign on February 7 during a speech before the Conservative Political Action Conference in Washington. Altogether, Romney had won 11 primaries and caucuses, received about 4.7 million total votes, and garnered about 280 delegates.

Romney endorsed McCain for president a week later. He soon founded the Free and Strong America PAC, a political action committee whose stated mission was to raise money for other Republican candidates and to promote Republican policies. Romney became one of the McCain campaign's most visible surrogates, appearing on behalf of the GOP nominee at fundraisers, state Republican party conventions, and on cable news programs. His efforts earned McCain's respect and the two developed a warmer relationship; he was on the nominee's short list for the vice presidential running mate slot, where his experience in matters economic would have balanced one of McCain's weaknesses. McCain, behind in the polls, opted instead for a high-risk, high-reward "game changer" and selected Alaska Governor Sarah Palin. Romney continued to work for McCain's eventually unsuccessful general election campaign.

Between presidential campaigns

Following the election, Romney paved the way for a possible 2012 presidential campaign by keeping much of his PAC's money to pay for salaries and consulting fees for his existing political staff and to build up a political infrastructure for what might become a $1 billion campaign three years hence. He also had a network of former staff and supporters around the nation who were eager for him to run again. He continued to give speeches and raise campaign funds on behalf of fellow Republicans, but turned down many potential media appearances so as not to become overexposed. He earned over $374,000 in fees for speeches before business, educational, and motivational groups. He served on the board of directors of Marriott International in 2010, earning over $113,000, then stepped down from it in early 2011.

The Romneys sold their main home in Belmont and their ski house in Utah, leaving them an estate along Lake Winnipesaukee in Wolfeboro, New Hampshire, and an oceanfront home in the La Jolla district of San Diego, California, that they had bought the year before. Both locations were near some of the Romneys' grandchildren, who by 2010 numbered fourteen. The San Diego location was also ideal for Ann Romney's multiple sclerosis therapies and for recovering from her late 2008 diagnosis and lumpectomy for mammary ductal carcinoma in situ. Romney maintained his voting registration in Massachusetts, however, and bought a smaller condominium in Belmont during 2010. Following the August 2009 death of his past rival and sometime ally Senator Edward M. Kennedy, Romney declared that he had no interest in running in the special January 2010 election to replace him. Romney was an early supporter of Scott Brown, the successful Republican candidate in that race. Some of Romney's former aides were used by Brown's campaign and Romney raised funds for Brown. In February 2010, Romney had a minor altercation with LMFAO musical group member Skyler Gordy, known as Sky Blu, on an airplane flight.

Romney's book, ''No Apology: The Case for American Greatness'', was released on March 2, 2010; an 18-state promotional book tour was undertaken. The book, which debuted atop the New York Times Best Seller list, avoided anecdotes about Romney's personal or political life and focused much of its attention on a presentation of his views on economic and geopolitical matters. Earnings from the book were donated to charity.

Polls of various kinds showed Romney remaining in the forefront of possible 2012 presidential contenders. In nationwide opinion polling for the 2012 Republican Presidential primaries, he has often led polls or been in the top three along with Palin and Huckabee. He finished first in the CPAC straw poll in 2009 and second in 2010 and 2011 behind Ron Paul, won the Southern Republican Leadership Conference straw poll in 2010, and won the New Hampshire Straw Poll in 2011. A January 2010 ''National Journal'' poll of political insiders found that a majority of Republican insiders, and a plurality of Democratic insiders, predicted Romney would become the party's 2012 nominee. Pew Research Center and Gallup Poll results showed that during 2009 and 2010, more in the general public were viewing him favorably (36 to 40 percent) than unfavorably (28 to 29 percent); this was a marked improvement from the days of his 2008 presidential campaign, when the reverse had been true.

Romney campaigned heavily for Republican candidates around the nation in the 2010 midterm elections, and raised the most funds of any of the prospective 2012 Republican presidential candidates. Appearances during early 2011 found Romney emphasizing how his experience could be applied towards solving the nation's economic problems and presenting a more relaxed visual image.

2012 presidential campaign

On April 11, 2011, Romney announced in a video taped outdoors at the University of New Hampshire that he had formed an exploratory committee as a first step for a potential run for the Republican presidential nomination, saying "It is time that we put America back on a course of greatness, with a growing economy, good jobs and fiscal discipline in Washington." The announcement represented the culmination of Romney's activities; as one Quinnipiac University political science professor stated, "We all knew that he was going to run. He's really been running for president ever since the day after the 2008 election."

Romney stood to possibly gain from the Republican electorate's tendency to nominate candidates who had previously run for president and were "next in line" to be chosen. Perhaps his greatest hurdle in gaining the Republican nomination was opposition to the Massachusetts health care reform law that he had signed five years earlier. The early stages of the race found Romney as the apparent front-runner in a weak field, especially in terms of fundraising prowess and organization. As many potential Republican candidates decided not to run (including Mike Pence, John Thune, Haley Barbour, Mike Huckabee, and Mitch Daniels), Republican party figures searched for plausible alternatives to Romney.

On June 2, 2011, Romney formally announced the start of his campaign. Speaking on a farm in Stratham, New Hampshire, he stressed economic issues and said that the nation was suffering from "President Obama's own misery index". He said that, "In the campaign to come, the American ideals of economic freedom and opportunity need a clear and unapologetic defense, and I intend to make it – because I have lived it."

Romney took the early fundraising lead, raising four times more in the second quarter of 2011 than his nearest Republican opponent. He ran a low-key, low-profile campaign at first and avoided statements about the ongoing U.S. debt ceiling crisis until the final days, when he said he opposed the Budget Control Act of 2011 that resolved it.

Political positions

For much of his business career, Romney had no tangible record of political positions taken. He followed national politics avidly in college, and the circumstances of his father's presidential campaign loss would grate on him for decades, but his early philosophical influences were often non-political, such as in his missionary days when he read and absorbed Napoleon Hill's pioneering self-help tome ''Think and Grow Rich'' and encouraged his colleagues to do the same. Until his 1994 U.S. Senate campaign, he was registered as an Independent. In the 1992 Democratic Party presidential primaries, he had voted for the Democratic former senator from the state, Paul Tsongas.

In the 1994 Senate race, Romney explicitly aligned himself with Republican Massachusetts Governor William Weld, who believed in fiscal conservatism and supported abortion rights and gay rights, saying "I think Bill Weld's fiscal conservatism, his focus on creating jobs and employment and his efforts to fight discrimination and assure civil rights for all is a model that I identify with and aspire to."

As a gubernatorial candidate, and then as the newly elected Governor of Massachusetts, Romney again generally operated in the mold established by Weld and followed by Weld's two other Republican successors, Paul Cellucci and Jane Swift: restrain spending and taxing, be tolerant or permissive on social issues, protect the environment, be tough on crime, try to appear post-partisan.

Romney has been consistent in many of his political positions. However, Romney's position or choice of emphasis on certain social issues, including abortion, some aspects of gay rights,|group="nb"}} some aspects of stem cell research,|group="nb"}} and some aspects of abstinence-only sex education,|group="nb"}} evolved into a more conservative stance during his time as governor. The change in 2005 on abortion drew particular attention and was the result of what Romney described as an epiphany experienced while investigating stem cell research issues. He later said, "Changing my position was in line with an ongoing struggle that anyone has that is opposed to abortion personally, vehemently opposed to it, and yet says, 'Well, I'll let other people make that decision.' And you say to yourself, but if you believe that you're taking innocent life, it's hard to justify letting other people make that decision."

This increased alignment with traditional conservatives on social issues coincided with Romney's becoming a candidate for the 2008 Republican nomination for President, and also included a new-found admiration for the National Rifle Association paired with ineptly attempting to portray himself as a lifelong hunter, rarely mentioning his Massachusetts health care law, being a convert on signing an anti-tax pledge, and displaying bluster or boldness on foreign policy matters (such as wanting to double the number of detainees at the Guantanamo Bay detention camp). In response, many skeptics, including a number of Republicans, charged Romney with opportunism and having a lack of core principles. The fervor with which Romney adopted his new stances and attitudes contributed to the perception of inauthenticity which hampered that campaign. Romney generally responds to criticisms of ideological pandering with remarks like, "The older I get, the smarter Ronald Reagan gets."

While there have been many biographical parallels between the lives of George Romney and his son Mitt, There are also obvious differences in their paths, including that George had a hardscrabble upbringing while Mitt's was affluent, and that Mitt far exceeded George's accomplishments in formal education.|group="nb"}} one particular difference is that while George was willing to defy political trends, Mitt has been much more willing to adapt to them. Mitt Romney has said that learning from experience and changing views accordingly is a virtue, and that, "If you're looking for someone who's never changed any positions on any policies, then I'm not your guy." Journalist and author Daniel Gross sees Romney as approaching politics in the same terms as a business competing in markets, in that successful executives do not hold firm to public stances over long periods of time, but rather constantly devise new strategies and plans to deal with new geographical regions and ever-changing market conditions. Political profiler Ryan Lizza sees the same question regarding whether Romney's business skills can be adapted to politics, saying that "while giving customers exactly what they want may be normal in the corporate world, it can be costly in politics". Writer Robert Draper holds a somewhat similar perspective: "The Romney curse was this: His strength lay in his adaptability. In governance, this was a virtue; in a political race, it was an invitation to be called a phony."

Immediately following the March 2010 passage of the Patient Protection and Affordable Care Act, Romney attacked the landmark legislation as "an unconscionable abuse of power" and said the act should be repealed. The hostile attention it held among Republicans created a potential problem for the former governor, since the new federal law was in many ways similar to the Massachusetts health care reform passed during Romney's term; as one Associated Press article stated, "Obamacare ... looks a lot like Romneycare." While acknowledging that his plan was not perfect and still was a work in progress, Romney did not back away from it, and has consistently defended the state-level health insurance mandate that underpins it. He has focused on its having had bipartisan support in the state legislature, while the Obama plan received no Republican support at all in Congress, and upon it being the right answer to Massachusetts' specific problems at the time. A Romney spokesperson has stated: "Mitt Romney has been very clear in all his public statements that he is opposed to a national individual mandate. He believes those decisions should be left to the states." While Romney has not explicitly argued for a federally-imposed mandate, during his 1994 Senate campaign he indicated he would vote for an overall health insurance proposal that contained one, and he suggested during his time as governor and during his 2008 presidential campaign that the Massachusetts plan was a model for the nation and that over time mandate plans might be adopted by most or all of the nation.

Throughout his business, Olympics, and political career, Romney's instinct has been to apply the "Bain way" towards problems. Romney has said, "There were two key things I learned at Bain. One was a series of concepts for approaching tough problems and a problem-solving methodology; the other was an enormous respect for data, analysis, and debate." He has written, "There are answers in numbers – gold in numbers. Pile the budgets on my desk and let me wallow." Romney believes the Bain approach is not only effective in the business realm but also in running for office and, once there, in solving political conundrums such as proper Pentagon spending levels and the future of Social Security. Former Bain and Olympics colleague Fraser Bullock has said of Romney, "He's not an ideologue. He makes decisions based on researching data more deeply than anyone I know." Romney's technocratic instincts have thus always been with him; in his public appearances during the 2002 gubernatorial campaign he sometimes gave PowerPoint presentations rather than conventional speeches. Upon taking office he became, in the words of ''The Boston Globe'', "the state's first self-styled CEO governor". During his 2008 presidential campaign he was constantly asking for data, analysis, and opposing arguments, and has been viewed as a potential "CEO president" should he get that far.

Religious aspects of public image

Romney is a sixth-generation member of The Church of Jesus Christ of Latter-day Saints (LDS Church, colloquially known as the Mormon church). He has avoided speaking publicly about specific church doctrines, and pointed out that the U.S. Constitution prohibits religious tests for public office. Polls in 2007 and 2011 indicated that about a quarter of Republican voters, and a quarter of voters overall, said they were less likely to vote for a candidate who was a Mormon. Romney's "Faith in America" speech, delivered in December 2007, addressed the matter. In it, Romney said he should neither be elected nor rejected based upon his religion, and echoed Senator John F. Kennedy's famous speech during his 1960 presidential campaign in saying "I will put no doctrine of any church above the plain duties of the office and the sovereign authority of the law." Instead of discussing the specific tenets of his faith, he said that he would be informed by it and that, "Freedom requires religion just as religion requires freedom. Freedom and religion endure together, or perish alone."

One academic study, based upon research conducted throughout the 2008 primaries, showed that a negative perception of Mormonism was widespread during the election, and that perception was often resistant to factual information that would correct mistaken notions about the religion or Romney's relationship to it. The authors concluded that, "For Romney ... religion ''is'' the central story." Another study, analyzing a survey conducted during January 2008 (when an African American, a woman, and a Mormon all had realistic chances of becoming the first president from that group), found that voters had internally accepted the notion of black equality, paving the way for Barack Obama's election; had partially established but not fully internalized the notion of gender equality, making Hillary Rodham Clinton's task somewhat more difficult; but had only selectively internalized the notion of religious equality, and in particular not extended it to Mormons, thus making Romney's run significantly more difficult. Those authors concluded that, "for a Mormon candidate, the road to the presidency remains very rough ... The bias against a Mormon candidate is substantial."

The June 13, 2011, issue of ''Newsweek'' magazine featured a Romney-themed cover based on the popular ''Book of Mormon'' Broadway musical, and dubbed the summer of 2011 "The Mormon Moment". Analysts expect Romney's Mormonism to become an issue again in the 2012 campaign.

Electoral history

Awards and honors

Romney has received four honorary doctorates: an Honorary Doctor of Business from the University of Utah in 1999, an Honorary Doctor of Law from Bentley College in 2002, an Honorary Doctor of Public Administration from Suffolk University Law School in 2004, and an Honorary Doctor of Public Service from Hillsdale College in 2007.

''People'' magazine included Romney in its 50 Most Beautiful People list for 2002. In 2004, Romney received the inaugural Truce Ideal Award for his role in the 2002 Winter Olympics. In 2008, he shared with his wife Ann the Canterbury Medal from The Becket Fund for Religious Liberty, for "refus[ing] to compromise their principles and faith" during the presidential campaign.

See also

'' Presidents and Prophets: the Story of America’s Presidents and the LDS Church''

List of JD/MBAs

Notes

References

Bibliography

External links

;Official

Romney official campaign website

;Other

Campaign Contributions made by Mitt Romney at NewsMeat

Press releases as Governor of Massachusetts 2003–2007

The Making of Mitt Romney, ''Boston Globe'', 2007, 7-part series

Romney and health care: In the thick of history, ''Boston Globe'', 2011, first of a series

Category:1947 births Category:Living people Category:20th-century Mormon missionaries Category:American chief executives Category:American Latter Day Saints Category:American investors Category:American management consultants Category:American Mormon missionaries Category:American political writers Category:Bain Capital Category:Bishops of The Church of Jesus Christ of Latter-day Saints Category:Boston Consulting Group people Category:Businesspeople from Massachusetts Category:Brigham Young University alumni Category:Cranbrook Educational Community alumni Category:Governors of Massachusetts Category:Harvard Business School alumni Category:Harvard Law School alumni Category:Massachusetts Republicans Category:Michigan Republicans Category:Mormon missionaries in France Category:People from Belmont, Massachusetts Category:People from Bloomfield Hills, Michigan Category:People from Detroit, Michigan Category:Pratt–Romney family Category:Private equity and venture capital investors Category:Stake presidents of The Church of Jesus Christ of Latter-day Saints Category:Stanford University alumni Category:United States presidential candidates, 2008 Category:United States presidential candidates, 2012 Category:Writers from Massachusetts Category:Businesspeople from Michigan

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Coordinates	57°49′″N28°20′″N
name	George Soros
birth date	August 12, 1930
birth place	Budapest, Kingdom of Hungary
alma mater	London School of Economics
occupation	Entrepreneur, currency trader, investor, philanthropist
networth	$14.5 billion (2011)
spouse	Twice divorced (Annaliese Witschak and Susan Weber Soros)
children	Robert, Andrea, Jonathan, Alexander, Gregory
nationality	Hungarian
website	georgesoros.com
footnotes	}}

George Soros (; or , ; born August 12, 1930, as Schwartz György) is a Hungarian-American financier, businessman, and notable philanthropist focused on supporting liberal ideals and causes. He became known as "the Man Who Broke the Bank of England" after he made a reported $1 billion during the 1992 Black Wednesday UK currency crises. Soros correctly speculated that the British government would have to devalue the pound sterling.

Soros is Chairman of the Soros Fund Management. In July 2011, Soros announced that he was returning outside investment money (valued at $1 billion) and will only invest his own $24.5 billion family fortune because of new U.S. Securities and Exchange Commission disclosure rules. Soros is also the chairman of the Open Society Institute and a former member of the Board of Directors of the Council on Foreign Relations. He played a significant role in the peaceful transition from communism to capitalism in Hungary (1984–89) and provided Europe's largest-ever higher education endowment to Central European University in Budapest. Later, the Open Society Institute's programs in Georgia were considered by Russian and Western observers to have been crucial in the success of the Rose Revolution. In the United States, he is known for donating large sums of money in an effort to defeat President George W. Bush's bid for re-election in 2004. In 2010, he donated $1 million in support of Proposition 19, which would have legalized marijuana in the state of California. He was an initial donor to the Center for American Progress, and he continues to support the organization through the Open Society Foundations. The Open Society Institute has active programs in more than 60 countries around the world with total expenditures currently averaging approximately $600 million a year.

In 2003, former Federal Reserve Chairman Paul Volcker wrote in the foreword of Soros' book ''The Alchemy of Finance'':

George Soros has made his mark as an enormously successful speculator, wise enough to largely withdraw when still way ahead of the game. The bulk of his enormous winnings is now devoted to encouraging transitional and emerging nations to become 'open societies,' open not only in the sense of freedom of commerce but – more important – tolerant of new ideas and different modes of thinking and behavior.

Family

Soros was born in Budapest, Kingdom of Hungary, the son of the Esperantist writer Tivadar Soros and Elizabeth Soros. Tivadar (also known as Teodoro) was a Hungarian Jew, who was a prisoner of war during and after World War I and eventually escaped from Russia to rejoin his family in Budapest.

The family changed its name from Schwartz to Soros in 1936, in response to growing anti-semitism with the rise of fascism. Tivadar liked the new name because it is a palindrome and because of its meaning. Although the specific meaning is left unstated in Kaufman's biography, in Hungarian, ''soros'' means ''next in line'', or ''designated successor''; and, in Esperanto, it means "will soar". Tivadar taught George to speak Esperanto from birth. Soros later said that he grew up in a Jewish home and that his parents were cautious with their religious roots.

Married and divorced twice, Soros has three children with Annaliese Witschak (Robert, Andrea, Jonathan) and two with Susan Weber Soros (Alexander and Gregory). His elder brother, Paul Soros, also a private investor and philanthropist, is an engineer, who headed Soros Associates and established the Paul and Daisy Soros Fellowships for Young Americans. Soros' nephew Peter Soros, a son of Paul Soros, married the former Flora Fraser – a daughter of Lady Antonia Fraser and the late Sir Hugh Fraser and a stepdaughter of the late 2005 Nobel Laureate Harold Pinter. Fraser and Soros separated in 2009.

His son Alexander Soros is also gaining prominence for his donations to social and political causes. Alexander led the list of student political donors in the 2010 election cycle.

Early life

Soros was thirteen years old in March 1944 when Nazi Germany occupied Hungary. Soros took a job with the Jewish Council, which had been established during the Nazi occupation of Hungary to carry out Nazi and Hungarian government anti-Jewish measures. Soros later described this time to writer Michael Lewis:

The Jewish Council asked the little kids to hand out the deportation notices. I was told to go to the Jewish Council. And there I was given these small slips of paper...It said report to the rabbi seminary at 9 am...And I was given this list of names. I took this piece of paper to my father. He instantly recognized it. This was a list of Hungarian Jewish lawyers. He said, "You deliver the slips of paper and tell the people that if they report they will be deported."

Later that year, at age 14, Soros lived with and posed as the godson of an employee of the Hungarian Ministry of Agriculture. On one occasion, the official was ordered to inventory the remaining contents of the estate of a wealthy Jewish family that had fled the country. Rather than leave the young Soros alone in the city, the official brought him along. The following year, Soros survived the Battle of Budapest, in which Soviet and German forces fought house-to-house through the city.

Soros emigrated to England in 1947 and, as an impoverished student, lived with his uncle, an Orthodox Jew. His uncle paid his living expenses while he attended the London School of Economics, where he received a Bachelor of Science in Philosophy in 1952. While a student of the philosopher Karl Popper, Soros worked as a railway porter and as a waiter. A University tutor requested aid for Soros, and he received £40 from a Religious Society of Friends (Quaker) charity. He eventually secured an entry-level position with London merchant bank Singer & Friedlander.

Emigration

In 1956, Soros moved to New York City, where he worked as an arbitrage trader with F. M. Mayer (1956–59) and as an analyst with Wertheim & Co. (1959–63). Throughout this time, Soros developed a philosophy of ''reflexivity'' based on the ideas of Karl Popper. Reflexivity, as used by Soros, is the belief that the action of beholding the valuation of any market, by its participants, affects said valuation of the market in a procyclical "virtuous or vicious" circle.

Soros realized, however, that he would not make any money from the concept of reflexivity until he went into investing on his own. He began to investigate how to deal in investments. From 1963 to 1973, he worked at Arnhold and S. Bleichroder, where he attained the position of Vice-President. Soros finally concluded that he was a better investor than he was a philosopher or an executive. In 1967, he persuaded the company to set up First Eagle, an offshore investment fund for him to run; and, in 1969, it founded the Double Eagle hedge fund for him.

In 1973, when investment regulations restricted his ability to run the funds as he wished, he resigned his position and established a private investment company, which evolved into the Quantum Fund. He has stated that his intent was to earn enough money on Wall Street to support himself as an author and philosopher – he calculated that $500,000 after five years would be possible and adequate.

He also once had a small stake in the Carlyle Group.

Business

In 1970, Soros founded Soros Fund Management with Jim Rogers. In 1973, he left Arnhold and S. Bleichroder to set up his own hedge fund with $12 million from investors. Christoper Ink was also involved, and other partners have included Victor Niederhoffer and Stanley Druckenmiller. Rogers retired from the fund in 1980.

Initially called the Soros Fund, it was eventually renamed the Quantum Fund. In 2000, the Quantum Group of Funds was reorganized, and the flagship Quantum Endowment Fund was established. Soros Fund Management LLC is the principal advisor to the Quantum Endowment Fund. Soros is the Chairman of Soros Fund Management. The firm's day-to-day operations are managed by Soros's two elder sons and the firm's Chief Investment Officer Keith Anderson. The fund has assets of approximately $27 billion. Recent investments include the 2010 purchase of a 20% stake in BNK Petroleum.

In 2007, the Quantum Fund returned almost 32%, netting Soros $2.9 billion.

In August 2010, Soros bought a 4 per cent stake in the Bombay Stock Exchange (BSE) for about $35 million. Soros’s Quantum hedge fund bought the stake from Dubai Financial, a part of the state-run Dubai Holdings, for an estimated Rs. 380 per share. Over 5,000 companies are listed on the exchange.

In July 2011, Soros closed his Quantum hedge fund to outside investment, running the hedge fund as an investment vehicle for his family's fortune.

Currency speculation

On September 16, 1992, Black Wednesday, Soros's fund sold short more than $10 billion worth of pounds, profiting from the UK government's reluctance to either raise its interest rates to levels comparable to those of other European Exchange Rate Mechanism countries or to float its currency.

Finally, the UK withdrew from the European Exchange Rate Mechanism, devaluing the pound sterling, earning Soros an estimated $1.1 billion. He was dubbed "the man who broke the Bank of England". In 1997, the UK Treasury estimated the cost of Black Wednesday at £3.4 billion.

On Monday, October 26, 1992, ''The Times'' quoted Soros as saying: "Our total position by Black Wednesday had to be worth almost $10 billion. We planned to sell more than that. In fact, when Norman Lamont said just before the devaluation that he would borrow nearly $15 billion to defend sterling, we were amused because that was about how much we wanted to sell."

Stanley Druckenmiller, who traded under Soros, originally saw the weakness in the pound. "Soros' contribution was pushing him to take a gigantic position."

In 1997, during the Asian financial crisis, the Prime Minister of Malaysia Mahathir bin Mohamad accused Soros of using the wealth under his control to punish the Association of Southeast Asian Nations (ASEAN) for welcoming Myanmar as a member. Following on a history of antisemitic remarks, Mahathir made specific reference to Soros's Jewish background ("It is a Jew who triggered the currency plunge") and implied Soros was orchestrating the crash as part of a larger Jewish conspiracy. Nine years later, in 2006, Mahathir met with Soros and afterwards stated that he accepted that Soros had not been responsible for the crisis. In 1998's ''The Crisis of Global Capitalism: Open Society Endangered'' Soros explained his role in the crisis as follows:

The financial crisis that originated in Thailand in 1997 was particularly unnerving because of its scope and severity.... By the beginning of 1997, it was clear to Soros Fund Management that the discrepancy between the trade account and the capital account was becoming untenable. We sold short the Thai baht and the Malaysian ringgit early in 1997 with maturities ranging from six months to a year. (That is, we entered into contracts to deliver at future dates Thai Baht and Malaysian ringgit that we did not currently hold.) Subsequently Prime Minister Mahathir of Malaysia accused me of causing the crisis, a wholly unfounded accusation. We were not sellers of the currency during or several months before the crisis; on the contrary, we were buyers when the currencies began to decline – we were purchasing ringgits to realize the profits on our earlier speculation. (Much too soon, as it turned out. We left most of the potential gain on the table because we were afraid that Mahathir would impose capital controls. He did so, but much later.)

The nominal U.S. dollar GDP of the ASEAN fell by $9.2 billion in 1997 and $218.2 billion (31.7%) in 1998.

''New York Times'' columnist Paul Krugman is critical of Soros's effect on financial markets.

"[N]obody who has read a business magazine in the last few years can be unaware that these days there really are investors who not only move money in anticipation of a currency crisis, but actually do their best to trigger that crisis for fun and profit. These new actors on the scene do not yet have a standard name; my proposed term is 'Soroi.'"

Public predictions

Soros' book, ''The New Paradigm for Financial Markets'' (May 2008), described a "superbubble" that had built up over the past 25 years and was ready to collapse. This was the third in a series of books he has written that have predicted disaster. As he states:

He ascribes his own success to being able to recognize when his predictions are wrong.

In February 2009, Soros said the world financial system had effectively disintegrated, adding that there was no prospect of a near-term resolution to the crisis. "We witnessed the collapse of the financial system[...]It was placed on life support, and it's still on life support. There's no sign that we are anywhere near a bottom."

Insider trading conviction

In 1988, he was asked to join a takeover attempt of the French bank Société Générale. He declined to participate in the bid but later bought a number of shares in the company. French authorities began an investigation in 1989, and in 2002 a French court ruled that it was insider trading, a felony conviction as defined under French securities laws, and fined him $2.3 million, which was the amount that he made using the insider information.

Punitive damages were not sought because of the delay in bringing the case to trial. Soros denied any wrongdoing and said news of the takeover was public knowledge.

His insider trading conviction was upheld by the highest court in France on June 14, 2006. In December 2006, he appealed to the European Court of Human Rights, claiming that the 14-year delay in bringing the case to trial precluded a fair hearing.

Sports

In 2005, Soros was a minority partner in a group that tried to buy the Washington Nationals, a Major League baseball team. Some Republican lawmakers suggested that they might move to revoke baseball's antitrust exemption if Soros bought the team. In 2008, Soros' name was associated with AS Roma, an Italian football team but the club was not sold. Soros was also a financial backer of Washington Soccer L.P., the group that owned the operating rights to Major League Soccer club D.C. United when the league was founded in 1995, but the group lost these rights in 2000.

Philanthropy

Soros has been active as a philanthropist since the 1970s, when he began providing funds to help black students attend the University of Cape Town in apartheid South Africa, and began funding dissident movements behind the iron curtain.

Soros' philanthropic funding includes efforts to promote non-violent democratization in the post-Soviet states. These efforts, mostly in Central and Eastern Europe, occur primarily through the Open Society Institute (OSI) and national Soros Foundations, which sometimes go under other names (such as the Stefan Batory Foundation in Poland). As of 2003, PBS estimated that he had given away a total of $4 billion. The OSI says it has spent about $500 million annually in recent years.

''Time'' magazine in 2007 cited two specific projects – $100 million toward Internet infrastructure for regional Russian universities; and $50 million for the Millennium Promise to eradicate extreme poverty in Africa – while noting that Soros has given $742 million to projects in the U.S., and given away a total of more than $7 billion.

Other notable projects have included aid to scientists and universities throughout Central and Eastern Europe, help to civilians during the siege of Sarajevo, and Transparency International. Soros also pledged an endowment of €420 million to the Central European University (CEU). The Nobel Peace Prize winner Muhammad Yunus and his microfinance bank Grameen Bank received support from the OSI.

According to ''National Review'' the Open Society Institute gave $20,000 in September 2002 to the Defense Committee of Lynne Stewart, the lawyer who has defended alleged terrorists in court and was sentenced to 2⅓ years in prison for "providing material support for a terrorist conspiracy" via a press conference for a client. An OSI spokeswoman said "it appeared to us at that time that there was a right-to-counsel issue worthy of our support."

In September 2006 Soros pledged $50 million to the Millennium Promise, led by economist Jeffrey Sachs to provide educational, agricultural, and medical aid to help villages in Africa enduring poverty. The New York Times termed this endeavor a "departure" for Soros whose philanthropic focus had been on fostering democracy and good government, but Soros noted that most poverty resulted from bad governance.

He received honorary doctoral degrees from the New School for Social Research (New York), the University of Oxford in 1980, the Corvinus University of Budapest, and Yale University in 1991. Soros also received the Yale International Center for Finance Award from the Yale School of Management in 2000 as well as the Laurea Honoris Causa, the highest honor of the University of Bologna in 1995.

Political donations and activism

United States

In an interview with ''The Washington Post'' on November 11, 2003, Soros said that removing President George W. Bush from office was the "central focus of my life" and "a matter of life and death." He said he would sacrifice his entire fortune to defeat President Bush, "if someone guaranteed it." Soros gave $3 million to the Center for American Progress, $2.5 million to MoveOn.org, and $20 million to America Coming Together. These groups worked to support Democrats in the 2004 election. On September 28, 2004 he dedicated more money to the campaign and kicked off his own multi-state tour with a speech: ''Why We Must Not Re-elect President Bush'' delivered at the National Press Club in Washington, DC. The online transcript to this speech received many hits after Dick Cheney accidentally referred to FactCheck.org as "factcheck.com" in the Vice Presidential debate, causing the owner of that domain to redirect all traffic to Soros's site. Asked in 2006 about his statement in ''The Age of Fallibility'' that "the main obstacle to a stable and just world order is the United States", Soros responded that "it happens to coincide with the prevailing opinion in the world. And I think that's rather shocking for Americans to hear. The United States sets the agenda for the world. And the rest of the world has to respond to that agenda. By declaring a 'war on terror' after September 11, we set the wrong agenda for the world. [...] when you wage war, you inevitably create innocent victims."

Soros was not a large donor to US political causes until the 2004 presidential election, but according to the Center for Responsive Politics, during the 2003–2004 election cycle, Soros donated $23,581,000 to various 527 groups dedicated to defeating President Bush. A 527 group is a type of American tax-exempt organization named after a section of the United States tax code, 26 U.S.C. § 527.

After Bush's re-election, Soros and other donors backed a new political fundraising group called Democracy Alliance, which supports progressive causes and the formation of a stronger progressive infrastructure in America.

In August 2009, Soros donated $35 million to the state of New York to be ear-marked for under-privileged children and given to parents who had benefit cards at the rate of $200 per child aged 3 through 17, with no limit as to the number of children that qualified. An additional $140 million was put into the fund by the state of New York from money they had received from the 2009 federal recovery act.

On October 26, 2010, Soros donated $1 million, the largest donation in the campaign, to the Drug Policy Alliance to fund Proposition 19, that would have legalized marijuana in the state of California if it had passed in the November 2, 2010 elections.

Eastern Europe

According to Neil Clark in the ''New Statesman'', Soros's role was crucial in the collapse of communism in Eastern Europe. From 1979, as an advocate of 'open societies', Soros financially supported dissidents including Poland's Solidarity movement, Charter 77 in Czechoslovakia and Andrei Sakharov in the Soviet Union donating $3 million a year according to Clark. In 1984, he founded his first Open Society Institute in Hungary and pumped millions of dollars into opposition movements and independent media. Since the fall of the Soviet Union, Soros' funding has continued to play an important role in the former Soviet sphere. His funding of pro-democratic programs in of Georgia was considered by Russian and Western observers to be crucial to the success of the Rose Revolution, although Soros has said that his role has been "greatly exaggerated." Alexander Lomaia, Secretary of the Georgian Security Council and former Minister of Education and Science, is a former Executive Director of the Open Society Georgia Foundation (Soros Foundation), overseeing a staff of 50 and a budget of $2,500,000.

Former Georgian Foreign Minister Salomé Zourabichvili wrote that institutions like the Soros Foundation were the cradle of democratisation and that all the NGOs which gravitated around the Soros Foundation undeniably carried the revolution. She opines that after the revolution the Soros Foundation and the NGOs were integrated into power.

Some Soros-backed pro-democracy initiatives have been banned in Kazakhstan and Turkmenistan. Ercis Kurtulus, head of the Social Transparency Movement Association (TSHD) in Turkey, said in an interview that "Soros carried out his will in Ukraine and Georgia by using these NGOs...Last year Russia passed a special law prohibiting NGOs from taking money from foreigners. I think this should be banned in Turkey as well." In 1997, Soros had to close his foundation in Belarus after it was fined $3 million by the government for "tax and currency violations". According to ''The New York Times'', the Belarusian president Alexander Lukashenko has been widely criticized in the West and in Russia for his efforts to control the Belarus Soros Foundation and other independent NGOs and to suppress civil and human rights. Soros called the fines part of a campaign to "destroy independent society".

In June 2009, Soros donated $100m to Central Europe and Eastern Europe to counter the impact of the economic crisis on the poor, voluntary groups and non-government organisations.

Africa

The Open Society Initiative for Southern Africa is a Soros-affiliated organization. Its director for Zimbabwe is Godfrey Kanyenze, who also directs the Zimbabwe Congress of Trade Unions (ZCTU), which was the main force behind the founding of the Movement for Democratic Change, the principal indigenous organization promoting regime change in Zimbabwe.

Drug policy reform

Soros has funded worldwide efforts to promote drug policy reform. In 2008, Soros donated $400,000 to help fund a successful ballot measure in Massachusetts known as the Massachusetts Sensible Marijuana Policy Initiative which decriminalized possession of less than 1 oz (28g) of marijuana in the state. Soros has also funded similar measures in California, Alaska, Oregon, Washington, Colorado, Nevada and Maine. Among the drug decriminalization groups that have received funding from Soros are the Lindesmith Center and Drug Policy Foundation. Soros donated $1.4 million to publicity efforts to support California's Proposition 5 in 2008, a failed ballot measure that would have expanded drug rehabilitation programs as alternatives to prison for persons convicted of non-violent drug-related offenses.

In October 2010, Soros donated $1 million to support California's Proposition 19.

According to remarks in an interview in October 2009, it is Soros's opinion that marijuana is less addictive but not appropriate for use by children and students. He himself has not used marijuana for years.

Death and dying

The Project on Death in America, active from 2001 to 2003, was one of the Open Society Institute's projects, which sought to "understand and transform the culture and experience of dying and bereavement." In 1994, Soros delivered a speech in which he reported that he had offered to help his mother, a member of the Hemlock Society, commit suicide. In the same speech, he also endorsed the Oregon Death with Dignity Act, the campaign which he helped fund.

Philosophy

Education and beliefs

His philosophical outlook is influenced by Karl Popper, under whom he studied at the London School of Economics (LSE). His Open Society Institute is named after Popper's two volume work, ''The Open Society and Its Enemies'', and Soros's ongoing philosophical commitment to the principle of fallibilism (that anything he believes may in fact be wrong, and is therefore to be questioned and improved) stems from Popper's philosophy.

Reflexivity, financial markets, and economic theory

Soros' writings focus heavily on the concept of reflexivity, where the biases of individuals enter into market transactions, potentially changing the perception of fundamentals of the economy. Soros argues that such transitions in the perceptions of fundamentals of the economy are typically marked by disequilibrium rather than equilibrium, and that the conventional economic theory of the market (the 'efficient market hypothesis') does not apply in these situations. Soros has popularized the concepts of ''dynamic disequilibrium'', ''static disequilibrium'', and ''near-equilibrium'' conditions.

Reflexivity is based on three main ideas: # Reflexivity is best observed under special conditions where investor bias grows and spreads throughout the investment arena. Examples of factors that may give rise to this bias include (a) equity leveraging or (b) the trend-following habits of speculators. # Reflexivity appears intermittently since it is most likely to be revealed under certain conditions; i.e., the character of the equilibrium process is best considered in terms of probabilities. # Investors' observation of and participation in the capital markets may at times influence valuations ''and'' fundamental conditions or outcomes.

A current example of reflexivity in modern financial markets is that of the debt and equity of housing markets. Lenders began to make more money available to more people in the 1990s to buy houses. More people bought houses with this larger amount of money, thus increasing the prices of these houses. Lenders looked at their balance sheets which not only showed that they had made more loans, but that their equity backing the loans – the value of the houses, had gone up (because more money was chasing the same amount of housing, relatively). Thus they lent out more money because their balance sheets looked good, they were guaranteed by the Federal Government, and prices went up more.

This was further amplified by public policy. Many governments see home ownership as a positive outcome and so first home owners grant and other financial subsidies – or influences to buy a home such as the exemption of a primary residence from capital gains taxation – mean that house purchases were seen as a good thing. Prices increased rapidly, and lending standards were relaxed. The salient issue regarding reflexivity is that it explains why markets gyrate over time, and do not just stick to equilibrium – they tend to overshoot or undershoot.

View of potential problems in the free market system

Despite working as an investor and currency speculator, he argues that the current system of financial speculation undermines healthy economic development in many underdeveloped countries. Soros blames many of the world's problems on the failures inherent in what he characterizes as market fundamentalism. His opposition to many aspects of globalization has made him a controversial figure.

Victor Niederhoffer said of Soros: "Most of all, George believed even then in a mixed economy, one with a strong central international government to correct for the excesses of self-interest."

Soros claims to draw a distinction between being a participant in the market and working to change the rules that market participants must follow. According to Mahathir bin Mohamed, Prime Minister of Malaysia from July 1981 to October 2003, Soros – as the hedge fund chief of Quantum – may have been partially responsible for the economic crash in 1997 of East Asian markets when the Thai currency relinquished its peg to the US dollar. According to Mahathir, in the three years leading to the crash, Soros invested in short-term speculative investment in East Asian stock markets and real estate, then divested with "indecent haste" at the first signs of currency devaluation. Soros replied, saying that Mahathir was using him "as a scapegoat for his own mistakes", that Mahathir's promises to ban currency trading (which Malaysian finance officials hastily retracted) were "a recipe for disaster" and that Mahathir "is a menace to his own country".

In an interview regarding the late-2000s recession, Soros referred to it as the most serious crisis since the 1930s. According to Soros, market fundamentalism with its assumption that markets will correct themselves with no need for government intervention in financial affairs has been "some kind of an ideological excess". In Soros' view, the markets' moods – a "mood" of the markets being a prevailing bias or optimism/pessimism with which the markets look at reality – "actually can reinforce themselves so that there are these initially self-reinforcing but eventually unsustainable and self-defeating boom/bust sequences or bubbles".

In reaction to the late-2000s recession, he founded the Institute for New Economic Thinking in October 2009. This is a think tank composed of international economic, business and financial experts, mandated to investigate radical new approaches to organising the international economic and financial system.

Views on antisemitism

At a Jewish forum in New York City, November 5, 2003, Soros partially attributed a recent resurgence of antisemitism to the policies of Israel and the United States, and the role of wealthy and influential individuals:

There is a resurgence of anti-Semitism in Europe. The policies of the Bush administration and the Sharon administration contribute to that. It's not specifically anti-Semitism, but it does manifest itself in anti-Semitism as well. I'm critical of those policies... If we change that direction, then anti-Semitism also will diminish. I can't see how one could confront it directly... I'm also very concerned about my own role because the new anti-Semitism holds that the Jews rule the world... As an unintended consequence of my actions... I also contribute to that image.

In a subsequent article for ''The New York Review of Books'', Soros emphasized that

I do not subscribe to the myths propagated by enemies of Israel and I am not blaming Jews for anti-Semitism. Anti-Semitism predates the birth of Israel. Neither Israel's policies nor the critics of those policies should be held responsible for anti-Semitism. At the same time, I do believe that attitudes toward Israel are influenced by Israel's policies, and attitudes toward the Jewish community are influenced by the pro-Israel lobby's success in suppressing divergent views.

Views on China

Soros has expressed concern about the growth of Chinese economic and political power. "China has risen very rapidly by looking out for its own interests ... They have now got to accept responsibility for world order and the interests of other people as well." Regarding the political gridlock in America, he said, "Today China has not only a more vigorous economy, but actually a better functioning government than the United States".

Wealth

In 2010, ''Forbes'' lists Soros as the Forbes list of billionaires 35th richest person in the world, and the 14th richest person in America, with a net worth estimated at $14.2 billion. Soros has given away $7 billion to various causes since 1979.

Relation to Hungarian politics

In the 1980s Viktor Orbán, Chairman of Fidesz (1994–2000, 2000–) and Prime Minister (1998–2002, 2010–) and László Kövér, Chairman of Fidesz (2000), Secret Service Minister (1998–2002) and Speaker of the National Assembly of Hungary (2010–), were Soros scholarship recipients. Furthermore the Orban cabinet's Deputy Prime Minister István Stumpf – now member of the Constitutional Court – was a member of the Soros Foundation's Board of Trustees between 1994 and 2002.

See also

George Soros conspiracy theories

Books

Authored or co-authored

''The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What it Means'' (PublicAffairs, 2008). ISBN 1-58648-683-7

''The Age of Fallibility: Consequences of the War on Terror'' (PublicAffairs, 2006) ISBN 1-58648-359-5

''The Bubble of American Supremacy: Correcting the Misuse of American Power'' (PublicAffairs, 2003) ISBN 1-58648-217-3 (paperback; PublicAffairs, 2004; ISBN 1-58648-292-0)

''George Soros on Globalization'' (PublicAffairs, 2002) ISBN 1-58648-125-8 (paperback; PublicAffairs, 2005; ISBN 1-52648-278-5)

''Open Society: Reforming Global Capitalism'' (PublicAffairs, 2001) ISBN 1-58648-039-7

With Mark Amadeus Notturno, ''Science and the Open Society: The Future of Karl Popper's Philosophy'' (Central European University Press, 2000) ISBN 963-9116-69-6 (paperback: Central European University Press, 2000; ISBN 943-9116-70-X)

''The Crisis of Global Capitalism: Open Society Endangered'' (PublicAffairs, 1998) ISBN 1-891220-27-4

''Soros on Soros: Staying Ahead of the Curve'' (John Wiley, 1995) ISBN 0-471-12014-6 (paperback; Wiley, 1995; ISBN 0-371-11977-6)

''Underwriting Democracy: Encouraging Free Enterprise and Democratic Reform Among the Soviets and in Eastern Europe'' (Free Press, 1991) ISBN 0-02-930285-4 (paperback; PublicAffairs, 2004; ISBN 1-58948-227-0)

''Opening the Soviet System'' (Weidenfeld & Nicolson, 1990) ISBN 0-297-82155-9 (paperback: Perseus Books, 1996; ISBN 0-8133-1205-1)

''The Alchemy of Finance'' (Simon & Schuster, 1988) ISBN 0-671-66338-4 (paperback: Wiley, 2003; ISBN 0-471-44549-5)

Biographies

''Soros: The Life and Times of a Messianic Billionaire'' by Michael T. Kaufman (Alfred A. Knopf, 2002) ISBN 0-375-40585-2

''Soros: The World's Most Influential Investor'' by Robert Slater (McGraw-Hill Professional, 2009) ISBN 978-0-07-160844-2

Journalism

Authored

George Soros, "Why I support legal marijuana", ''The Wall Street Journal'', October 26, 2010.

George Soros, "The Crisis and the Euro", ''The New York Review of Books'', August 19, 2010.

George Soros, "On Israel, America and AIPAC", ''The New York Review of Books'', April 12, 2007.

George Soros, "The Bubble of American Supremacy", ''The Atlantic'', December 2003.

George Soros, ''The Bubble of American Supremacy'', audio recording of ''The Atlantic'' article via ''Assistive Media'', read by Grover Gardner, 18 minutes.

George Soros, "Soros on Brazil", ''Financial Times'', August 13, 2002.

George Soros, "Bitter Thoughts with Faith in Russia", ''Moskovskiye Novosti'' (''Moscow News''), translated from the Russian by Olga Kryazheva, February 27, 2000.

George Soros, "The Capitalist Threat", ''The Atlantic Monthly'', February 1997.

George Soros, "Paulson Cannot be Allowed a Blank Cheque", ''Financial Times'', September 24, 2008

About

Stephen Adams "Furious George" on Citizen – Family Issues in Policy and Culture

John Authors, Book Review, "A successful prophet of the markets," Financial Times, May 19, 2008.

Laura Blumenfeld, ''Billionaire Soros Takes On Bush'', MSNBC, November 11, 2003

Connie Bruck, Abstract of New Yorker profile of Soros "The World According to Soros", The New Yorker, January 23, 1995

Neil Clark Analysis of Soros' role in Eastern Europe from "New Statesman"

Malcolm Gladwell, "Blowing Up," The New Yorker, April 22 & 29, 2002, at gladwell.com.

John Horvath The Soros Effect on Central and Eastern Europe

Matt Welch, ''Open Season on 'Open Society': Why an anti-communist Holocaust survivor is being demonized as a Socialist, Self-hating Jew'' Reason magazine, December 8, 2003

Martin Peretz, "Tyran-a-Soros: The Madness of King George," The New Republic, February 12, 2007.

TIME's 25 Most Influential Americans, TIME Magazine April 21, 1997. Accessed May 21, 2007.

The TIME 100, The Power Givers, George Soros, TIME Magazine May 14, 2007 accessed May 21, 2007.

Scholarly perspectives

Speeches

Testimony of George Soros to a congressional sub-committee, Sept. 15, 1998

The Theory of Reflexivity Delivered April 26, 1994 to the MIT Department of Economics World Economy

"The Differences Between Natural and Social Science: Implications of Fallibility" at IISc Bangalore, January 5, 2007

Testimony before the U.S. Senate Commerce Committee Oversight Hearing on FTC Advanced Rulemaking and Oil Market Manipulation

Interviews

Fareed Zakaria discussing economic crisis with George Soros on GPS

The Leonard Lopate Show (WNYC) – Audio Archive: "George Soros on Freedom"

frontline: the crash: interviews: george soros

George Soros Interview On 60 Minutes

Wall $treet Week with FORTUNE . TV Program | PBS

Challenge: The international financial crisis – International ...

NOW with Bill Moyers. Transcript. David Brancaccio interviews ...

Booknotes with Brian Lamb. Transcript and streaming video.

Rocketboom: The Age of Fallibility (Video, 2006)

Google Video: Eric Schmidt, CEO of Google interviews George Soros (Video, 2006)

Fox News Interview with Neil Cavuto, October 11, 2006 Video and text, accessed May 25, 2007.

Interview with George Soros, September 5, 2000

Notes

External links

Open Society Institute and Soros Foundations Network

Institute for New Economic Thinking

Column archives at Project Syndicate

Column archives at ''The New York Review of Books''

Soros Fund Management 13F filing and Portfolio Activities

List of articles and speeches by and about George Soros

George Soros' Political Campaign Contributions

Forbes.com: Forbes 400 Richest in America

George Soros in SEC Filings

The Money Man – New Yorker

In depth review of The New Paradigm

Why Does Soros Bite Hand That Feeds Him? in Investor's Business Daily

Category:1930 births Category:Alumni of the London School of Economics Category:American billionaires Category:American investors Category:American money managers Category:American people of Hungarian-Jewish descent Category:American philanthropists Category:Central European University Category:Drug policy reform activists Category:Framing theorists Category:Hedge fund managers Category:Hungarian emigrants to the United States Category:Hungarian people of Jewish descent Category:Living people Category:Native Esperanto speakers Category:Naturalized citizens of the United States Category:People convicted of insider trading Category:People from Budapest Category:Recipients of the Order of the Cross of Terra Mariana, 1st Class Category:Stock and commodity market managers Category:Stock traders Category:Currency traders

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