Public Sector banks in the US!!

Posted by | November 24, 2008 | Uncategorized | No Comments

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.

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