In the last part we saw why the banks were rather reckless in their lending, why certain investment banks started failing and why all this got AIG into trouble. We also saw what CDSs were and how banks made money from mortgages. Continuing from the point where Lehman Brothers failed:
The Government now refused to lend a helping hand to the ailing ibank and dismissing the case as a one off case of reckless Wall Street decisions....
It is now a well known fact that Paulson-Bernanke team put together a faulty rescue plan in the first go. But did it only start with the TARP or did they fail to act when the time was ripe? By the time AIG was ailing, it was more than just clear that money was drying up in the stock markets and almost all the prime indices were showing a downward trend. Did the Fed-Treasury duo act too late? If not, why could they NOT bring their...
![Reading Between the Election Number Part IV – Rise of the Regionals-Image]()
Author’s Note : Please read Part I (and disclaimer) here, Part II and Part III before reading this post.
The elections in 1989 would usher in a decade of political instability in India. No single party would gain the majority in the Lok Sabha for the first time. Congress (I) was the leading party with 195 seats, but well short of the 272 needed for majority. The Janata Party, reorganized as the Janata Dal, formed a coalition...
Shashi Tharoor, born on 9 March 1956 is an Indian diplomat and writer who has been known mostly for his having worked as an Indian diplomat at the United Nations. In 2006, he was the official candidate of India for the office of United Nations Secretary-General, and came second out of seven official candidates in the race. Tharoor served as the UN Under-Secretary General for Communications and Public Information between June 2002...
Author’s Note : Please read Part I (and disclaimer) here and Part II here
As the next reelections came close, Indira Gandhi would declare a controversial national emergency, giving her despotic powers. The opposition – the socialist parties, the liberal parties, Congress offshoots like Utkal Congress, Bharatiya Kranti Dal and Jana Congress and the Hindu right with Jan Sangh, would combine to form the Janata Party and contest...
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Author’s Note : Part 1 available here, along with the Disclaimer.
Nehru would be reelected in 1962, but with a mildly lesser majority. The liberal C Rajagopalachari and his nascent Swatantra Party would garner 8% of the electorate (Though only 18 seats in 494 member assembly). Pro Tamil Dravida Munntera Kazhagam would also make its debut in the Lok Sabha with 7 seats. Nehru’s regime would suffer a further blow when China...
