Post Coup
Erdogan Goes After… the Stock Analysts?

Turkey’s President Recep Tayyip Erdogan just keeps on purgin’. First it was the military, then it was the universities, then it was the media. Now he’s turned his attention to financial analysts:

Mert Ulker, head of research at Ak Investment, the brokerage arm of Turkey’s second-biggest bank, was stripped of his licence by the Capital Markets Board over a research report he issued to investors after the July 15 putsch.

Mr Ulker’s report featured the standard predictions for the lira, the stock exchange and other economic indicators. It also offered his analysis of the coup’s potential political impact and theories behind the perpetrators.

In punishing Mr Ulker, who could not be reached for comment, the board said the analyst had not fulfilled his responsibilities and cited laws against insulting the institution of the presidency.

Here we see a very important lesson in statesmanship: if you lock up the stock traders who badmouth your stocks, investors will surely reward you by making the stock market go up. This, at least, appears to be the views of Turkey’s hard-purging, hard-charging “democratic Islamist” president…

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