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UK woos India to solve Wall St crisis

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    • Agencies Tags : world market, wall street crisis, gordon brown, manmohan Posted: Saturday , Sep 27, 2008 at 1101 hrs
    The UK PM has supported the move to rope in India to join hands in tackling the financial meltdown in the US.

    The financial turmoil came up in Singh's discussions with World Bank President Robert Zoellick, where they went into much more detail about the role of multilateral organisations in dealing with and giving warning about such crises before they happen, Menon said.

    The matter also figured in Singh's meetings with several leaders including Chinese Premier Wen Jiabao. In each case it was slightly different depending on what the nature of the conversation was. The Prime Minister is of the view that there are no simple answers on how to deal with the issue.

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    Fly-by-night operatorsBy: Munnabhai | 27-Sep-2008 Reply | Forward We in India had similar problems, especially in Tamil Nadu and Kerala, when a large number of fly-by-night operators started chit fund and blade companies which were not regulated properly. Millions lost their hard earned money. Similar was the case when Harshad Mehta and Ketan Parikh bled the stock markets. But gullible people still get cheated regulators or no regulators!
    Importance Central Bank's RegulationBy: Muralidhar Bhat | 27-Sep-2008 Reply | Forward We now understand how important is the intervention in regulating financial sector. So, it is time that whole world followed the system, before it is too late.It is not fare to leave everything to market's control.
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