Red Tide at the Casino

Illustration for TIME by Edel Rodriguez

There's a celebrated scene in dostoyevsky's classic novel The Gambler in which a wealthy, 75-year-old Russian grandmother takes a seat in a casino and watches a young man pile up his winnings at the roulette table. After a few minutes, she nudges the narrator, and instructs him: "Tell him to stop and take his money with him. Soon he will be losing — yes, losing everything that he has now won."

In the wake of the meltdown of the stock market in Moscow this month, there are quite a few...

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