Sunday, February 03, 2008

Sub-prime Crisis and Silence of the Liberal Bloggers

Around U.S. $200 billions went down the drains.

Around U.S. $135 billions were written off by taking loans from Mid East and China.

Around 10 biggies in Wallstreet laid off their CEOs or if the CEO was spared then who-ever he/she found to take the blame.

And all because of this ?

We can be either sprititual and blame that human greed is the cause all the woes.
Or try be pragmatic and pin-point that the major cause was the lack of regulations.

The proponents of free market solutions to anything and everything from child-education to saving extinct species - the leading liberal bloggers of desi blogosphere are suspisiously silent on the issue.

But knowing their shortsightedness [1] it's neither suprising nor amusing.

[1] Almost all the subprime SIVs had AAA ratings by all leading rating agencies. How do you apply caveat emptor in these situations.


Shreemoyee said...

why have you stopped writing?

Bishu said...

Hey I still write...but not blogs..functional specs...test cases..user signoff...MIS report...all useless bytes filling our office servers ...but at the end of the day earns me my bread :)

BTW I need to ask you the same qs.