The billionaires are coming to the rescue. First, media mogul Ted Turner announced last month that he would give the ailing United Nations a $1 billion shot in the arm over the next 10 years. Then last week, American financier George Soros shocked Moscow and the West with a pledge to pump up to $500 million of his personal fortune into needy Russian health and education programs over the next three years.
The huge donation left American diplomats elated and at the same time somewhat embarrassed. Soros, a Hungarian-born philanthropist who has already poured $260 million into Russia since 1994, will...