As the economists across the world trying hard to 'catch the bottom' and trend the signs of the bottoming process, i see the much touted, stinkingly highly paid, considered as the most intelligent species in this world "the investment banker' has become another career title which has become an object of joke.
i think 99% of the investment bankers get bad name for the rest of them :)
I liked the english humor on "investement banker" ... http://www.dailymotion.com/video/kOwMNba8E7WXxpHSpY
If you understand the exact nature of the problem then we will understand how stupid and blind the systems are and the people who ran it.... I like the way it is put across ...Dodgy debts packaged under Special investment vehicle and offered as " High grade structured credit Enhanced leveraged fund" ...
- Irrespective of what the market offers, nothing replaces financial discipline & prudence at an individual level.
Another news that churned my internal systems is the article that questioned the solvency of the Fed reserve which is over much more leveraged than the Lehman Brothers (when it went bust)... check this article.
http://seekingalpha.com/article/102786-the-mother-of-all-investment-banks?source=email
The evening news reader on TV started off by wishing "Good Evening" and went on for 30 minutes telling us why it is not a good evening. Assam blasts, Mumbai lynching //... what is not being focussed on is the anger and frsutration of the common man on the system. The grieving father of the mumbai victim gave a counter offer to Mah. Govt for offering 2L compensation.... Just read the counter offer and we can understand the grief and anger...
"Let Maharashtra government take Rs 20 lakh and hand over Raj Thackeray to me." "I will not think twice and sell off all that I have to strike this deal. Will the government agree?" he questioned. "I don't want the money. I want those who killed my son should be dealt with in a similar manner,"
More than tough laws we need accountability. I propose that the security cover for the people responsible in governments (that includes the prime minister) should be progressively reduced so that they and their families live with the same fear every common man is now living. Else we would get nothing more than rhetorics after every incident.
"Dharmo rakshathi rakshathaha" goes a sanskrit saying means only if you protect dharma (justice) then that dharma will protect you. The faster we all realize what this means the better for us.
" You cant catch my bottom or the top" ... a loud statement from a kids video which my daughter was seeing disturbed my attention... mythologically... Lord vishnu and Brahma are trying to catch the bottom and top of shiva respectively and they could not do it. While vishnu agreed that he cant "catch the bottom", brahma lied to shiva that he has seen the extreme and got punished... so goes the story.
But the bottom line is "You can't catch the bottom & the top" . I wish our economists take a lesson or two from our mythological stories.....
Happy reading ! and have a great weekend
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