The Russian ruble's collapse shows the power of U.S. sanctions

If Bloomberg News were to report tomorrow morning that the United States government was considering enacting capital controls to prevent investors from moving assets out of the country, markets may well shrug it off because the idea is patently absurd. The entity taking the biggest hit would be Bloomberg, and the damage would be reputational — for reporting a story nobody believed. However, when Bloomberg reported last week that the Russian central bank was considering capital controls, the ma...