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.

2 comments:

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.