PNotes and other derivatives are the Sub-prime Mortgage Securities that nobody in US or Europe wants. They are desperately trying to value the tied up instruments that they cannot mark to market. FII's packages this and sell to un-suspecting Indian and Chinese markets re-directing it to Stock markets buying up Emerging market stocks. This is so dangerous that it will eventually destroy Indian Markets. chinese Markets might comeout of this as they have more than a trillion dollars in their kitty. SEBI and Govt has smelled the biggest threat to Indian markets and decided to call the bluff. FII's must be controlled just like US and Euproeans do with Chinese and Indian Companies trying to operate in WEstern markets.
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We should have the political Guts to take essential tough measures. Our Honble FM is not having any other job but to address media after every crash. Instead of plugging the loop holes, we are making it wider and larger. Finally all the Corporates will move away only the poor people will be made scapegoats.
RE:RE:P.N.
by Alok Dube on Oct 22, 2007 01:37 PM Permalink
well said, all that seems to be happening is that the black money is getting blacker, the rich richer, no new infra projects inspite of this new money pouring in and the rupee appreciating hitting our exports. Send these americanos home and let the real india shine
