You can have all the regualtion you want, there will always, always be a way out for these rich stupid people. First of all, obama have given these people billions of dollars and then he says there is regulations coming? He gave aways billions and there is NO WAY ever that these will be paid back and Obama knows it. My hard earned money was used to bail out the rich and I am never going to accept that, never. All my life I have been told that if you cannot do the right thing, you fail and go under. People have suffered greately due to this but now we know that its a different set of standards for the rich. They screw average people's lives, they get to be bailed out. Yet the people that did the right things, have no say in the matter but instead they are the ones that bail out the ones that DID NOT do the right thing. IT PAYS TO BE STUPID AS WELL AS STUPID AND RICH. IT DOES NOT PAY TO DO THE RIGHT THING. This so called regulations that are coming are nothing more than to calm down good peole that are in rage of the way they have been neglected and pushed aside, their money taken and given to mindless, crooked people.
India has an archaic financial system that keep the matter as it is without helping any progress. Some emotional and patriotic Indians think otherwise giving example that no Indian banks failed in this economic downturn. So did the banks in Bangladesh, Pakistan or Sri Lanka. So what is exceptional about our system? To apni chaddi ko laal mat karo aur apnaa system pehle improve karne ki baat karo.
Re: Don't equate Indian financial system with US
by ravula reddy on Jun 22, 2009 03:27 AM
Looks like you are another confused desi. This article was about Obama policy in improving US wall street. Why you NRI's always compare everything with India. What do you want to prove yourself by always comparing India with US for wrong reasons. If you are really interested in India and development of India. Just ask yourself few questions. 1. How do you behave in India and when you are out of India. 2. What you teach to Indians when you are out of India and what you do when you in India.
As Nobel Lauret Joseph E Stiglitz said US need a very stringent regaulatory system as followed in India to insualte Wall street from fraud as it happend in case of Lehmann Bros.So India is finest example but in the long run it creates excessive govt control which leads to red tapism and it curbs laissez faire practices which US baosted for last decade.
Re: India is finest Example
by deepak on Jun 21, 2009 09:22 PM
then why hasnt India delivered but Wall street has? US capitalism has created wealth and prosperity unprecedented in the history of the world. How can US, a 14 trillion dollar economy learn or follow India, which has only turned One trillion last year??? Obama is a Commie inspired radical ethno Islamic apologist. Obama is being revealed every single day.
Re: Re: India is finest Example
by Happy Indian on Jun 21, 2009 09:39 PM
It's because of people like you with inferiority complex that India is not developing not because of our system.
"US capitalism has created wealth and prosperity unprecedented in the history of the world" During the 1500's India accounted for 40% of the world GDP while US today accounts for 25% of World GDP.
Re: Re: Re: India is finest Example
by Kirti Shetty on Jun 22, 2009 12:41 AM
Happy Indian, I am a PROUD Indian too... I am sorry to say that I do not agree with you... Whenver we lose in any competition, we try an look into the past and glorify how much great our culture, civilization is... If your argument holds true, the American cos. should not be afraid of Indian/Chinese firms... since they have been in the business so much longer... However, it is not so... Toyota, Honda and Hyundai are showing Ford and GM (the older car manufacturing cos) how to make and sell cars!!! America has its own strengths... and trying to incorporate those strengths...
Look into the present and not into the past!!! People who live in the past will cease to exist...
Re: Re: Re: India is finest Example
by Kirti Shetty on Jun 22, 2009 12:54 AM
I agree... The Indian politicians want us to be poor forever!!! Why do they have to promise rice for Rs 3/-??? Why can't they promise whatever the price of rice is, we will make sure every citizen of India can afford it!!! I will tell you why... because they want us Indians to be in a false world forever... and not prosper... do not want people to be educated, so that we cannot make decisions to elect the right people... Atleast, there is a boom before the bust!!! In India, we only have bust... People in US are fighting to keep the American dream alive, which is own a house of their own... In India, we still fight to get basics - Food, Clean water, education, electricity (even Bombay has power cuts!!!)
Stop being fooled by politicians!!! Its better being rich than poor!!!
Obama is touching a hornest's nest - there's too much of work to be done. Over-regulation can also pose a threat to natural flow of business in financials. In today's world, as the business is truly global in nature, US alone or Obama can not really do much in future terms unless some kind of network of regulatories of major economies like EU, Oz, Japan, Canada etc work together or at least they have to work in sync with some defined policy that should be able to protect interest of investors as well as brokers/counterparts/business owners as applicable. However, stopping the hedges doesn't appear a very sound idea;in fact, it's rather pretty stupid and doesn't do any good for any of the parties including the government/treasury/whatever.
Re: Hornest's Nest
by Firelite on Jun 21, 2009 09:21 PM
All other countries like EU,OZ,Japan, Canada do already have stricter regulations and USA is the weakest link. Though the latest action by obama will start plugging the hole but will not completely stop it. There is a long road ahead.
Re: great Obama
by MS on Jun 19, 2009 06:48 PM
lol. notice how come obumma didnt blame the president/congress/sec/fannie/freddie or any other govt agency for the crisis.
ofcourse ,govt babus are always blameless.geez.statist lout.die obumma die
Re: Re: great Obama
by SHARAD on Jun 19, 2009 08:13 PM
He did blame the govt for nto providing adequate oversite. He is looking fwd and settling past scores may be make you feel good, but does not help anyone.
