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Ten months, full circle

September 2008 was less than a year ago. Lehman Brothers collapsed. AIG got nationalised. Merrill got taken over. Washington Mutual disappeared. Fannie Mae and Freddie Mac got nationalised. Most large US banks became subsidiaries of the government. Stock markets crashed. Credit markets froze. A ....Read more

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IllogicalBy: RSUNDARAM | Sunday , 12 Jul '09 12:20:31 PM Reply | Forward This is the first time I see Jerry rao has written a vapid piece. There is no great virtue in making decisions democratically as the author claims, at least in financial matters. . Even in the US it is only the rich who can come to power because the process of elections requires deep pockets or patronage of billionaires. If it had not been for oligarchic democracy of the West this melt down itself may not have happened at least in such apocalyptic scale. Decision making either in a democracy or communist regime is always taken by a cabal since ordinary folks are ignorant and out of the loop.

Self ContradictoryBy: RSUNDARAM | Sunday , 12 Jul '09 12:02:22 PM Reply | Forward This is the first time I see Jerry rao has written a vapid piece. There is no great virtue in making decisions democratically as the author claims, at least in financial matters. . Even in the US it is only the rich who can come to power because the process of elections requires deep pockets or patronage of billionaires. If it had not been for oligarchic democracy of the West this melt down itself may not have happened at least in such apocalyptic scale. Decision making either in a democracy or communist regime is always taken by a cabal since ordinary folks are ignorant and out of the loop.

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