The current economic crisis has brought a downturn in almost every industry the world over. First the USA and its banking companies came across the subprime lending crisis leading to the fall of some leading financial institutions that had gone deep into the lending space without taking all the necessary precautions and becoming too liberal to lure the customers from the competitors. Then came the fall of an insurance giant. This had repercussions throughout the banking industry across Europe and Asia too. This was also felt by the banking industry in India.
A simultaneous sms and online campaign by some rogue stock brokers in India spread rumors bout the fall of the largest private sector Indian bank. It was advertised by the brokers that ICICI was on the verge of becoming bankrupt due to exposure to the bad loans in the US although the situation was not so grim in reality as ICICI had limited exposure to the subprime lending that lead the US banking industry to the downfall. Even as the exposure to ICICI was bigger than SBI, it was not on the verge of becoming bankrupt. ICICI experienced huge customer unrest due to this and had to take some special PR measures to prevent any casualty. The biggest private bank of the country was threatened for its existence due to such a small issue of SMS campaign by some rogues. Continue reading “Get LEAN during the Mean economic crisis”
Barak Obama the President Elect for the United States of America is being shown as a no nonsense person by the US Media and the world media is lapping up the story. But is that totally true in all the senses of the War on Terror? Barak Obama has in public given statements that he as his predecessor will work towards rooting out the menace of terrorism from the world especially terrorism that is against the US and her citizens. He has talked about Islamic terrorism.
Obama had previously given statements that He will be ready to bomb Pakistani territories if the need be. He is ready to go out of the way to protect American Interests. He is going this way and that way. But what about those Americans killed in the recent Mumbai terror attacks. The attacks that rendered India and the world breathless for three days. The attack that killed hundreds of innocent people including Americans.
Initially the president elect told that India reserves the rights to attack the territories of Pakistan, but he turned back on his own statement after Pakistani President told the media that Pakistan will have to pull out of the War on Terror going on at the Afghan border with Pakistan. After this incident Obama issued another statement stating that every sovereign state had the rights to protect itself and its own territory. This at first look seems to be a simple statement wherein a state can do anything to protect itself and its territory. But after deeper analysis – the sentence seems to be saying that India has rights to protect itself only on her own territories and can’t attack Pakistan – ‘as the greater American cause of the War on Terror will get affected’.
Pakistan has been using such tactic in the past to dissuade the any military actions by India on Pakistan.
They have also used the tactic to gain further financial assistance and concessions from America. The USA has been in the past generously providing the Military rule in Pakistan with all the needed cash to run their otherwise bankrupt country. They didn’t ever question the purpose for which the funds were used. The funds changing hands from the Military to the ISI had been feeding the terrorist organizations breeding inside Pakistan and have been using the forces against India primarily and recently on the US forces after gaining access to the unruly tribal areas adjacent to the Afghan border.
But now since some US citizens have been killed in the Mumbai attacks they have suddenly found the Indian claim of declaring Pakistan a terrorist state true. India has been facing Pakistan sponsored terrorism for the last two decades but the US has not been giving heed to it. This time they have forced Pakistan to ban the terrorist organization Lashkar-e-Toiba and its front Jamat ul Dawa. This is a big step towards the realization of the world that Pakistan is the primary of source of Islamic terrorism in the world now and the world needs to unite and fight this war together to root out terrorism from the Pakistani territories because that is when we will be able to live in peace. Better late than never. Let us now hope this goes on and good sense prevails over the Pakistani establishment to tide over all the terrorist organizations at once.