Putin Defends His 'Democracy'

Criticism Of Bush, Iraq War In Exclusive Interview With Mike Wallace

(CBS)  At first, the presidency seemed frightening to Putin. His reluctance to accept it is apparent in a picture of Boris Yeltsin handing him the reins of power.

“You look as though you’re overwhelmed or unhappy or worried,” says Wallace, of the picture.

“Definitely, all the thoughts you have mentioned,” says Putin. “I had told Yeltsin that I was not prepared, because this, in my view, was a very difficult, very complex fate. And I had never thought about becoming president.”

Putin inherited a mess from Yeltsin. After the breakup of the Soviet Union, more than 20 Russians had become instant billionaires by snapping up Russia’s state industries and natural resources at bargain prices. They’re called the oligarchs.

Putin is quick to criticize them, but will not speak ill of Yeltsin.

“The fact of the matter is, Mr. President, that Boris Yeltsin made it possible for his friends, the oligarchs, to get a leg up in return for which they helped him in his last election campaign,” says Wallace. “It was a quid prod quo. Right?”

“You have oversimplified. After the collapse of the Soviet Union, we faced economic problems. We faced terrorism and practically civil war,” says Putin.

“It had nothing to do with Boris Yeltsin?” asks Wallace.

“They took advantage of the weakness of the state by using their money to buy influence in the legislature, and the judicial system, and the mass media,” says Putin.

Putin is now cracking down on many of the oligarchs, forcing them to return some of their ill-gotten gains. Several billionaires have gone into exile, a few into Russian prisons.

“Corruption is every place in Russia. Agreed? Why? To get anything done, money,” says Wallace. “You want an apartment? A bribe. You want a job? A bribe. And you know, who tells me this? My Russian friends. They’re disgusted by it, but they say it’s a fact of life. Corruption in Russia.”

Asks Putin: “Have your American friends never told you about corruption in the United States?”

Putin blames much of the corruption on the oligarchs. Most of them are Jewish and President Putin has made a point of speaking out against the resurgence of anti-Semitism in Russia.

“I said that even in our country, most unfortunately, we see signs of neo-Nazism, of extremism, of anti-Semitism,” says Putin. “And for us, this is a special evil, because Russia is a multi-ethnic, multi-national country. And as soon as we let anti-Semitism pop up, national intolerance grows, and that is bad for the country.”

Today, all over Moscow, banners celebrate the 60th anniversary of the end of World War II. More than 50 world leaders have arrived.

What does Putin hope to accomplish, with all of the heads of state here?

“We should not forget the things that brought us together, that united us,” says Putin. “And that we need to unite our efforts again to counter contemporary threats and challenges. We have to look to the future. To fight for the future of mankind.”

“They’re pressing us to end the interview,” says Wallace. “Just a few more [questions].”

“Nobody can be pressing us because I’m the president,” says Putin, laughing.

“So, in English, what would you like to say to the American people?” asks Wallace.

“I want to say a lot, really a lot,” says Putin, in Russian. “But I am afraid to offend Americans with my improper pronunciation.”

“Don’t worry about it,” says Wallace.

“And, at the conclusion, I would like to say only one thing,” says Putin, who adds in English, “All the best to every family in America.”