Monday, December 29, 2008

Terrorists in White Collars


While this is definitely not condoning the heinous atrocities committed by those men on the right, its certainly saying that the deeds done by those in the left deserve reprimand too. The Lehman collapse can be viewed as a 2008 version of the Enron collapse. Crimes committed by intellectuals will remain crimes all the same. Introduction of highly sophisticated and complex trading instruments like exotics and other derivatives which resulted in gross over-valuations and price rise due to speculation eventually resulted in the average commoner, irrespective of nationality, losing a substantial part of his savings. Dangling the metaphorical carrots promising higher returns and lower risks and drawing high commissions with the hike in the volume of deals, the working man's hard-earned income was siphoned off to pay for corporate retreats and summer villas. The Armani-clad, ivy-schooled professionals are no less villians and must be dealt with appropriately



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