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The Washington Post
September 27, 1999, p. A19

Do-Gooders Undone? (Excerpt)

David Ignatius

"The Boston criminal investigation involves questions about Shleifer's and Hay's investments while they were helping run the Harvard Project. A companion civil investigation is exploring whether Harvard supervised their activities closely enough. A summary of some of the issues in the case is contained in Janine R. Wedel's recent book, Collision and Collusion.

Wedel writes that AID investigators gathered evidence in 1997 that Hay had invested in Russian junk bonds, known as "GKOs," while he was advising the government on financial matters. AID rules ban employees from investing in project nations. In the case of Shleifer, investigators examined whether he was involved directly or indirectly in investments made by his future wife, who ran a hedge fund in Boston that traded in GKOs."

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The Washington Post
September 27, 2000, p. A21

U.S. Sues Harvard Over Russia Aid Project (Excerpt)

Pamela Ferdinand

"The entire episode should prompt a critical examination of U.S. policy toward Russia over the past decade, suggested Janine Wedel, author of "Collision and Collusion: The Strange Case of Western Aid to Eastern Europe 1989-1998."

"We need to look at how foreign policy in this very key area of Russian economic development was essentially privatized to a very small group of players on both sides with very little accountability," said Wedel, who teaches at the University of Pittsburgh."

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