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Give them credit

The RBI and the government are expected to release a report later this month on the state and resilience of the Indian financial system. Believed to run into 2,600 pages and weighing in at 15 kg, it is likely to present a rosy picture. But even if it does not, and, significantly, even if its co ....Read more

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mr.By: hitesh brahmbhatt | Tuesday , 2 Jun '09 16:29:32 PM Reply | Forward But, given the state of so-called independent bodies here in US (how the FASB was bullied into getting rid of mark-to-market accounting inconvenient for banks, or how rating agencies gave AAA ratings to toxic MBS), I am not so sure if we want to give them free hand in deciding health of our system (although, compared to non-existent Indian system, it will still come out ahead for many years to come).

Please refrain from stupid criticismBy: vinay | Sunday , 5 Apr '09 12:32:14 PM Reply | Forward the fact that the government prevented "independent experts from international bodies and members of standard-setting bodies from participating in the assessment exercise would undermine the report and send out wrong signals"These are the same bodies that couldn't asses the disaster that's happening in the US now. Why should the Indian govt trust them anyway? Indian experts are far better than western ones in my opinion. It's only due to the strong regulatory policies that RBI has put in due to which Indian banks haven't collapsed like the big American banks. In fact I'll say it'll be beneficial for the western experts to learn from this report rather than provide their useless expert opinion. In future, Please gather your facts before criticizing mindlessly.

Have beliefBy: Pradeep | Monday , 9 Feb '09 14:41:46 PM Reply | Forward Indians have a strange inferiority complex. Whatever the western world gives them is good, great. I think the author has the same kind of attitude. Would US get themselves examined or audited by the organisation FSAP. NO. I am not sure if China has done that. How do we explain the current crisis in US and the whole world? Dont suspect everything the indian govt or bodies say. If you want go through the details and point out the short comings.

Thanks IlaBy: SC | Monday , 9 Feb '09 9:07:05 AM Reply | Forward Ila's articles are simply amazing. We learn so much by reading them. Thanks Ila.

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