Friday, November 28, 2008
Change must come from within.................
Saturday, October 18, 2008
Is bailout really neccessary, no I don't think so.
Say Mr.X has taken a loan of $200,000 from a mortgage firm for buying a house. The mortgage company in order securitize the loan, converts the it a bond and sells the bond in the open market. The bond is bought by an investment bank or a mutual fund or a pension fund since it offers good returns. In order to securitize their investment, the entity which bought the bond insures it with an Insurer. when Mr.X defaults, then it sets off a chain reaction which affects all those involved in the chain of events, i.e. the mortgage company, investment bank & insurance company.
The guys with with fat pay checks in Wall street never cared about the fact that this vicious chain may crash. All that mattered to them were profits, never the means to achieve it. Wall street being the brainchild of capitalism came up with a master plan to save their skin from this economic breakdown. The US government $700 billion bailout save only the financial companies from bankruptcy and leaves Mr.X in total disarray.
The bailout has put a double burden on the common man, first $700 billion has been made raised from the tax payers money which includes Mr.X's contribution also. We need to remember Mr.X has been shown door from his house has he has defaulted his payments. His house would be auctioned off now and say it is sold for $50,000. Mr.X still has a liability of $150,000 to his mortgage company. In other words he needs to pay for the house he doesn't have and also he has to pay for preventing the financial institutions from crashing, the very same institutions which has left him in lurch. These guys do have a lot of brains.
Had this bailout not happened the entire world economy would have collapsed and a new world system might have been formed. Of course we would have faced many problems, but I sincerely believe it might have cut off the wings of Capitalistic Imperialism. The bankers have made sure that this didn't happen and Capitalism continues to thrive so that they can reap it's benefits.
Thursday, October 16, 2008
Friedman points to Gandhian ways for recovery
Gandhi had always argued same, it is called the Means and the Ends concept. i.e. it is not enough that we must have a very high goal, but the means we employ to achieve the goal is equally important. Though I am not a great fan of Gandhi, I greatly admire him for this particular trait. I believe at this hour when one of the biggest ever economy crisis of post World war II era is slowly catapulting, this concept of integrity is very important to improve not just the economy but the living standard of the entire world.
Wednesday, October 15, 2008
Bailout is neccessary
The increasing liberation policies and complex instruments make the functioning of banks and economics incomprehensible to an ordinary man and is really tough to expect him to analyze this situations beforehand, when seasoned economists themselves have been left confused. The bailout in turn must be followed by stricter regulations of the market and trail of those responsible.
Saturday, October 04, 2008
Be a bit slow, Mr. Chidambaram
I believe a detailed discussion must take place before any action is taken, let's hope Chidambaram doesn't act in haste. One thing which worries me a lot is the fact that BJP are also neo-liberal and this could prove a boon for P.C. It is upto each and everyone of us (Indians) to make sure that we follow the progress of Pension Regulatory Development Authority Bill, Banking Regulation Amendment Bill and the Insurance Amendment Bill.
Friday, October 03, 2008
This was how A.I.G. went down
The article gives an immaculate picture of how Joseph J. Cassano and his 376 member AIG financial group, stationed at London, bought about the demise of the parent company via Collateral Debt Obligations(CDO).
I am still unsure whether the $85 billion bail out by Fed is enough to sustain AIG, because with the number of home mortage defaulters increasing, the CDO liablity of AIG to its clients is bound to increase.
From latter part of the 20th century, the way economy is running has become incomprehensible to a common man. I believe if we want to improve this world, knowing economy is one of the most important things. Time to buckle up and do some reading.
Thursday, September 11, 2008
NSG's approval, a step foward
Nulear Suppliers Group (NSG) has agreed to waive the restrictions for the supply of Nuclear fuel, reprocessing for India without any restrictions on our Nuclear Arms programs. Any ban or revoking of fuel supply, reprocessing techniques, in case of India restarting Nuclear arms programme, be based on the consensus of 45 member NSG. Consensus is highly unlikely since India can bank on some nations like Russia, France for help.
The unconditional waiver by NSG is certainly a significant achievement for India as a nation. Let's not forgot the fact that NSG formed as a response to the Nuclear tests conducted by India, at Pokhran, in 1974. Also one of the primary motives of Warsaw plenary of NSG in 1992 in adopting the full safeguards agreement was to deprive India of nuclear fuel. The diplomacy and negotitations carried by Foreign Secretary Shiva Sankar Menon, Chairman of Atomic energy commission Anil Kakodkar and his team has been comendable.
NSG waiver doesn't no mean that we are going to have a cake walk, instead it is actually a path treaded with lot of landmines like Berman.
What irks me is the blatant criticism from all quarters that the waiver surrenders India's sovereignty. For those who pose a question like that, please answer the below questions,
1. Did the atom bombs possessed by us in any way deter the Terrorists attacked Indian parliament on December 11, 2001. We didn't even retaliate by destorying the terrorist camps in POK and the fact which has to remembered was that BJP was in power then.
2. Has our nuclear arsenal made China to withdraw from the Indian territories occupied during the 1963 Indo-China war? Or has it made China recognize Nagaland as a state of India?
3. Has our nuclear arsenal helped to solve the internal problems like Maoists, ULFA & Naxals? (I will not criticize these groups, will discuss about them in a separate post).
4. Or has the principles of left made West Bengal one of the prosperous states in India? I am not against the principles of a socialism, I am indeed one of the most ardent socialists. The fact is I believe the CPI(M) is not a proper representatives of the socialists.
One thing which the so called communists tend to forget is that the NSG waiver is an absolute neccessity to procure fuel from any country, including Russia.
In our country millions of people are living without proper food, water and shelter. At this time, do we really need to test more nuclear devices and announce to world that we are a nuclear power house? Just ask yourself..
Monday, July 28, 2008
Girl who slapped the entire mankind on face
The transcript of her speech is below,
We are a group of twelve and thirteen-year-olds from Canada trying to make a difference:
Vanessa Suttie, Morgan Geisler, Michelle Quigg and me. We raised all the money ourselves to come six thousand miles to tell you adults you must change your ways. Coming here today, I have no hidden agenda. I am fighting for my future.
Losing my future is not like losing an election or a few points on the stock market. I am here to speak for all generations to come.
I am here to speak on behalf of the starving children around the world whose cries go unheard.
I am here to speak for the countless animals dying across this planet because they have nowhere left to go. We cannot afford to be not heard.
I am afraid to go out in the sun now because of the holes in the ozone. I am afraid to breathe the air because I don't know what chemicals are in it.
I used to go fishing in Vancouver with my dad until just a few years ago we found the fish full of cancers. And now we hear about animals and plants going exinct every day -- vanishing forever.
In my life, I have dreamt of seeing the great herds of wild animals, jungles and rainforests full of birds and butterfilies, but now I wonder if they will even exist for my children to see.
Did you have to worry about these little things when you were my age?
All this is happening before our eyes and yet we act as if we have all the time we want and all the solutions. I'm only a child and I don't have all the solutions, but I want you to realise, neither do you!
- You don't know how to fix the holes in our ozone layer.
- You don't know how to bring salmon back up a dead stream.
- You don't know how to bring back an animal now extinct.
- And you can't bring back forests that once grew where there is now desert.
Here, you may be delegates of your governments, business people, organisers, reporters or poiticians - but really you are mothers and fathers, brothers and sister, aunts and uncles - and all of you are somebody's child.
I'm only a child yet I know we are all in this together and should act as one single world towards one single goal.
In my anger, I am not blind, and in my fear, I am not afraid to tell the world how I feel.
In my country, we make so much waste, we buy and throw away, buy and throw away, and yet northern countries will not share with the needy. Even when we have more than enough, we are afraid to lose some of our wealth, afraid to share.
In Canada, we live the privileged life, with plenty of food, water and shelter -- we have watches, bicycles, computers and television sets.
Two days ago here in Brazil, we were shocked when we spent some time with some children living on the streets. And this is what one child told us: "I wish I was rich and if I were, I would give all the street children food, clothes, medicine, shelter and love and affection."
If a child on the street who has nothing, is willing to share, why are we who have everyting still so greedy?
I can't stop thinking that these children are my age, that it makes a tremendous difference where you are born, that I could be one of those children living in the Favellas of Rio; I could be a child starving in Somalia; a victim of war in the Middle East or a beggar in India.
I'm only a child yet I know if all the money spent on war was spent on ending poverty and finding environmental answers, what a wonderful place this earth would be!
At school, even in kindergarten, you teach us to behave in the world. You teach us:
- not to fight with others,
- to work things out,
- to respect others,
- to clean up our mess,
- not to hurt other creatures
- to share - not be greedy.
Do not forget why you're attending these conferences, who you're doing this for -- we are your own children. You are deciding what kind of world we will grow up in. Parents should be able to comfort their children by saying "everyting's going to be alright" , "we're doing the best we can" and "it's not the end of the world".
But I don't think you can say that to us anymore. Are we even on your list of priorities? My father always says "You are what you do, not what you say."
Well, what you do makes me cry at night. You grown ups say you love us. I challenge you, please make your actions reflect your words. Thank you for listening
Thursday, February 21, 2008
Rs.200 can change the life of this guy....
Last week, I met a boy named Soundrapandian in a village called Elanthugudi, near Mayiladuthurai. My friend’s dad who is a school headmaster bought Soundrapandian to my notice.
Soundrapandian finished his MCA with First Class in 2005. So, what is so special about him? He might have passed the exams, but still has got many difficulties which need to be addressed. This guy is crippled with Polio to an extent where he cannot walk even with crutches. Worse still is his parents who were taking care of him are no more. He was under the care of his elder brother who also passed a few years ago. He has got a younger brother who also is crippled with Polio. Though his younger brother can walk, he cannot climb stairs, not even board a bus. Being the eldest son in the family, Soundrapandian needs to look after his younger brother, his brother’s wife and children.
So, what to do? He had enrolled himself in Tamil Nadu Government’s employment exchange which gave recommendations to some IT companies for enrollment. But multinational companies rejected citing they don’t need work force at the moment (Good joke indeed).
During his college years Soundrapandian worked part time in a computer center called Tamil Nadu Software College in Mayiladuthurai. After completing his MCA, he had worked full time also. But now, there is no one to take him to the institute, which is ready to offer a job at a decent salary.
So, what can we do?
A tricycle for the disabled costs Rs.3, 800 (Three thousand eight hundred rupees), if 19 of us can shell out Rs.200 each, we can get him a tricycle. You see this amount which is not very large can change the life of the family. If you are willing to contribute Rs.200, kindly please mail me at sathishmayil@gmail.com
Click here to view his certificates
Do remember the Chinese proverb “Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.”
Though i am in a NGO I cannot help via it, since it serves only education.
Please don’t forward this mail and make it a mail chain.