Moscow Times reports Georgia's economy is collapsing. Fear of Russian hackers.

[bushmeister0]

"The Georgian economy suffered a major blow Monday as banks were told to stop issuing loans and investors voiced concern that a military conflict spilling over into the country from two rebel provinces could disrupt energy supplies.

The Bank of Georgia, the country's largest lender, said it halted all loans and its online banking service until August 18, after Georgian financial regulators ordered a freeze to prevent capital flight.

'We understand that we may face a massive money withdrawal, so it seems logical to keep the assets in the banks," said Macca Ekizashvili, head of investor relations at the bank. "But we haven't seen any kind of panic so far.'"

http://www.themoscowtimes.com/article/600/42/369727.htm

Remember, the same thing happened in Lebanon in 2006,butwe and the Saudis propped up tier financial system. I doubt anyone has any money this time to bai Georgia out.

And it gets even better . . .

"Online banking was suspended over fears of attacks by Russian hackers, Bank of Georgia chairman Nicholas Enukidze told investors during a conference call late Monday."

USA Today reported a while back:

"MOSCOW — A political battle is raging in Russian cyberspace. Opposition parties and independent media say murky forces have committed vast resources to hacking and crippling their websites in attacks similar to those that hit tech-savvy Estonia as the Baltic nation sparred with Russia over a Soviet war memorial.. .

Stanislav Belkovsky, a political analyst believed to have close ties to Kremlin insiders, said a senior associate of President Vladimir Putin is leading the cyber assault. The government denies it and insists it has nothing to do with the onslaught. The Kremlin said hackers could easily forge Internet Protocol addresses registered to government offices."

http://www.usatoday.com/tech/news/computersecurity/cyber-attacks-kremlin-critics.htm

And they could do it to us . . . they already have:

"Government security services have long been suspected of engaging in hacking. In 1999, an unidentified hacker in Moscow penetrated U.S. Defense Department computers for more than a year, copying classified naval codes and data on missile guidance systems. The Kremlin denied involvement."

[] The pot calling the kettle black

Bush: "Russia has invaded a sovereign neighboring state and threatens a democratic government elected by its people. Such an action is unacceptable in the 21st century."

http://news.yahoo.com/s/afp/20080812/wl_afp/georgiarussiaconflict

Is he kidding? I thought he was the one who usered in the whole thing in the first place.

And what's he going to do about it? He probably change his passwords first.

[Old and In the Way]

1. I bet Saakashvili would like to have a do over since about a week ago.

He's learned a lesson that most of us learned a long time ago. Whatever the Bush administration tells you, believe the opposite to be true.