Head Banging is a way of life for most music aficionados. Here's a link which just might make you have a second thought about it.
Enjoy!!
Economics of charity...
Lately, no other illusion broke like the illusions of the US financial institutions. And man!!! Wasn't it awfully dreadful. Completely wiping out three major companies in a matter of few weeks. Now all that's left of these companies are bewildered investors scrambling around looking for someone to blame.
The crisis started the day when these financial institutions decided to be more lenient in giving loans to people belonging to the sub prime category. There was always a inherent risk of these people defaulting in their loans. So to make their skeptical investors happy they charged a few extra percentage points in the interest rate of these people. But doesn't increasing the interest further increases the risk of defaulting. Its like charging less from the rich and more from the poor for the same thing. How did it appear as sound investments to these financial institutions?
Even the government was happy. Why wouldn't it be. Who wouldn't want to be known as the man who was responsible for 'delivering' houses to the poor.
So who should be blamed for this act of charity? These institutions, who foolishly ran after increasing profits while ignoring the need to make a strong foundation to fall on? Maybe, the government, for overlooking the emerging crisis just to appease their vote bank. Their very own citizens are blaming them for the whole mess. They should have certainly put more regulations to avert such a situations.
Its time for governments to realize a robust economy cant be created by giving away "hollow dreams" at expense of others. Its about investing on people who can return it at a higher value.
This is the only way a country can prosper.
The crisis started the day when these financial institutions decided to be more lenient in giving loans to people belonging to the sub prime category. There was always a inherent risk of these people defaulting in their loans. So to make their skeptical investors happy they charged a few extra percentage points in the interest rate of these people. But doesn't increasing the interest further increases the risk of defaulting. Its like charging less from the rich and more from the poor for the same thing. How did it appear as sound investments to these financial institutions?
Even the government was happy. Why wouldn't it be. Who wouldn't want to be known as the man who was responsible for 'delivering' houses to the poor.
So who should be blamed for this act of charity? These institutions, who foolishly ran after increasing profits while ignoring the need to make a strong foundation to fall on? Maybe, the government, for overlooking the emerging crisis just to appease their vote bank. Their very own citizens are blaming them for the whole mess. They should have certainly put more regulations to avert such a situations.
Its time for governments to realize a robust economy cant be created by giving away "hollow dreams" at expense of others. Its about investing on people who can return it at a higher value.
This is the only way a country can prosper.
Still Mumbai...
Yesterday when my flight landed in Mumbai, I gave out a sigh of relief. The city hasn't changed at all. The temperature outside was still a stinking 28 deg, it still takes about a half hour to get baggage, mom's first comments are still on on my 'Sick' looks and dad is still just happy to see me.
It simply doesn't feel like I have been away from this place all these while.
After staying here for a day I realized more :
It simply doesn't feel like I have been away from this place all these while.
After staying here for a day I realized more :
- The sea breeze from my balcony still feels nice.
- The music in "Not Just Jazz by the bay" is still great.
- Evening walks in Priyadarshini park are still exhilarating.
- The sunset at Marine Drive is still heat warming.
- The women are as pretty as ever.
- and the men...... ummmhhh........ never mind.. they are still busy killing each other.
The thing is, I had got familiar with the city during my one year stay. It kind of seeped into my heart which even Kolkata couldn't do. It was here I spent one frustrating year of my life and it did it's best to make sure I am not sad all the time. Before leaving for the city from Bangalore I had a small apprehension that it might have some what changed like all long lost friends do. But when I came here and found it just the way I left it, I was relieved that it didn't change itself , at least not yet. It still has the amazing energy the whole world talks about.
Anyways lots of cheesy stuff has been written. But still if I ever meet the spirit of Mumbai I will definitely buy him a beer for doing such a magnificent job for the city.
Anyways lots of cheesy stuff has been written. But still if I ever meet the spirit of Mumbai I will definitely buy him a beer for doing such a magnificent job for the city.
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