A DONE DEAL – AT 8:51 A.M. ET:  And, in a reversal of the Reagan doctrine regarding Moscow, they win, we lose.   From Fox:

MOSCOW – President Vladimir Putin signed bills at the Kremlin Friday officially completing the annexation of Crimea from Ukraine.

Putin hailed the incorporation of Crimea into Russia as a "remarkable event" before he signed the bills into law. Ukraine and the West have rejected the earlier vote by Russian parliament held two weeks after Russian troops had taken over Crimea.

The U.S. and the European Union have responded by slapping sanctions on Russia. President Obama ordered a second round of sanctions Thursday targeting members of Putin's inner circle and a major bank supporting them.

International agencies downgraded Russia's outlook, and Russian stock plummeted Friday.

Putin said in televised remarks at Friday's session of the presidential Security Council that he sees no immediate need for further Russian retaliation and said sardonically that he would open an account in the targeted bank.

COMMENT:  The Russians will get some knee scrapes over the sanctions, but the fact is that they've clearly won this round.  Anyone disagree?

March 21,  2014