November 2008 -

Public Sector banks in the US!!

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Are we all coming in to an unfortunate situation where we have to bow down and accept that the nationalization of Indian Banks a few decades back by our PM was RIGHT!

Looks like big brother is heading that direction at least for now.

Somewhere I read that “US is turning in to USSR”, cause govt will be holding more than 50% of half the banks in the US is this goes for some more time. Sometimes it really amazes me when I keep reading news of how tax payers money is being flushed in to drains claiming that it is to prevent further loss to the tax payer. Its like saying “I need to give you a kick for you to forget the pain from the punch I just gave ” hehe.

Now with Citi bank getting $ 20bn fresh capital from govt and a guarantee for all the TOXIC junk they hold to the tune of $306 bn.

Someone said zeros have no value, how true!

Not sure if the bail out should be done to save the economy from this fall or correction, or allow the system to cleanse itself as a free economy would do. My opinion I would say that looking at this short term’s (say 2-3 years ) faith restoration may turn futile if we don’t correct the fundamentals of the free economy first. Some regulations in place is a must, otherwise we are looking at the devil in the human’s to act at their free will. Some people for their gains don’t mind the whole world pay for it unfairly.

May be a drive towards people turning in to self managed investors is the way to go and an answer to everything, avoiding the situation where we have to depend on a few to manage big moneys.

Time will tell us whats in store for us in the coming months.

Barack Obama and The Change

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Its a historic win for Barrack Obama who is bringing in a BIG change to the history of the United states and also the whole world is expecting him bring in the BIG change which is much needed.
His first and the biggest task after being elected the President of the United States is to tackle the looming economic crisis. Here is Barack Obama’s version of the crisis
“The fact that we are even here voting on a plan to rescue our economy from the greed and irresponsibility of Wall Street and Washington is an outrage. It is an outrage to every American who works hard and pays their taxes and is doing their best every day to make a better life for themselves and their families. They are angry that Wall Street’s mistakes have put their tax dollars at risk, and they should be. I am too”….’ U.S. Senator Barack Obama today made this statement on the Senate floor on the Emergency Economic Stabilization legislation (H.R. 1424)’
Wow this says a lot to the world. Shows that his priorities are well set even before he takes to his new office.
According to the latest news from ‘Reuters’ “U.S. President-elect Barack Obama will not attend the global financial summit in Washington on Friday and Saturday and will not meet foreign leaders on the sidelines, aides said on Monday.” This is in keeping with his strong belief that there can be only one President at a time and goes to show the strong belief and character that the future President holds. Gentle Man I would say.
Well with many speculation afloat it looks like Barack Obama’s choice for Treasury post is going to be very critical for all of us. This would sum up as to how he is prepared to tackle the crisis.
Well what decision that Obama takes is entirely up to him and his team but sure the world is watching and waiting for The Change

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