Latvia’s development since their complete independence from the Soviet Union has been unexpectedly successful. Latvia and the other Baltic States have joined the club of rich Western countries, NATO and the EU. So, if things have seemingly gone so well, what are the roots of the political disaffection that has led Latvia to hold its second parliamentary elections in the space of less than a year? This report points out the causes of political discontent in a distorted privatization process. Pauls Raudseps describes this process – which is often done in an ad hoc and intensely politicized manner – as something that benefited a small group of oligarchs at the expense of the entire country.