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Archive for September, 2008

The hunt begins to punish the culprits

September 29, 2008 Leave a comment

“The scale of this problem has been unprecedented and I expect the response will be, too,” said Robert Mintz, a former federal prosecutor and now a partner at the law firm McCarter and English. Someone is going to have to pay for sending the financial world into a panic and wiping out the savings of millions. (The hunt begins to punish the culprits – Times Online).

The Earlier Collapses

During the tech meltdown, it was Bernie Ebers (Worldcom) and the Enron guys who were made the fall guys. In the 1989, it was Mike Millken.

But how about indicting Alan Greenspan and Ben Bernake?

Categories: Uncategorized

Is there a police mindset?

September 29, 2008 Leave a comment
Portrait of a suicide bomber

Portrait of a suicide bomber

When Delhi police paraded three suspected Indian Mujahideen terrorists – Mohammed Shakeel, Saquib Nisar and Zia-ur-Rehman – before the media last week in Arab-style kifayah scarves, little did it realize it would stir a hornet’s nest.

There seems to be a conscious effort to re-assert the identity of these youth – that of being Muslims.

A section of the Muslim community said that the scarves used were similar to those worn by Muslims, especially clerics. Some said they were part of a costume called the abaaya. Numerous e-mails and blogs said that parading those accused of the recent Delhi blasts in these scarves showed the typical mindset of the police. (Is there a police mindset?-India-The Times of India).

The Lowest Prison Population In The World

India has the lowest prison population in the world – ranging between 2.5 lakhs to 3.5 lakhs (250,000-350,000) for a population of 110 crores (1100 million). If one were to compare the Muslim prison population against the general Muslim population, there are an ‘extra’ 15,000-20,000 Muslim prisoners.

And what is the total Muslim population in India – more than 16 crores. This is the world’s largest minority Muslim population in the world – and also the 2nd /3rd largest Muslim population in the world.

India – Most Under-Policed Country In The World

It is also the most ‘under-policed’ country in the world. The Indian police is commendable job – with severe funding, equipment, manpower constraints.

They deserve better than this villification.

India – Most Affected By Terrorism

Apart from war torn countries like Afghanistan and Iraq, India is one of the most affected by terrorism in the world. In such a situation, for the administration, the police and the population to maintain a semblance of sanity, balance is creditable.

As MJ Akbar, observed,

“The Union and state governments have not been tested by a post-terror conflagaration because the overwhelming majority of Hindus have shown an exemplary commitment to peace, but this can hardly be taken for granted.”

Ultra-Orthodox vigilantes spread fear in Jerusalem

September 29, 2008 Leave a comment

Some residents say the self-styled “modesty squads” are spreading terror among those seen as straying from the strict moral code demanded of the ultra-Orthodox in the more conservative neighbourhoods of the Holy City.

There life revolves largely around the study of holy texts and a strict dress code that has men sporting black coats and wide-brimmed hats and women covering their heads, arms and legs.

Two weeks ago police arrested two alleged members of a modesty patrol (Ultra-Orthodox vigilantes spread fear in Jerusalem – Middle East Times).

The Israeli Nation Model

Many in India believe that India should ‘learn from Israel’ on how to manage terror. What many forget is that

1. Israel is a nation of 7 million – which is the size of mid sized Indian city
2. Israel is practically funded completely by the USA
3. What future does Israel have once American funding dries up?
4. Its hostility with all its neighbours.

Categories: Uncategorized

37 arrested in raid on ‘rave party’ in Pushkar

September 29, 2008 Leave a comment

At the rave party, foreigners were inebriated and allegedly found in compromising positions. Out of 25 foreigners, 15 were women. They were from Israel, Britain, America, Sweden, Australia, Germany and Spain, a source said.

37 arrested in raid on ‘rave party’ in Pushkar-India-The Times of India.

The interesting thing is the number of Israelis in India who can be found at Goa, Manali, Pushkar etc. Last year, at Manali more than 100,00 tourists, nearly 5% of India;s tourist inflow came to Manali.

At Manali,

The writing on the wall of the Old Manali village in the panoramic Kullu valley is clearly Hebrew. Israelis flocking to the valley in large numbers each year has turned this once-sleepy village into a thriving Jewish enclave. Better known for its cool climes and snow-capped peaks, over the past one-and-a-half decades the overcrowded-yet-quaint cafes along the Beas river have steadily emerged as the new paradise to which thousands of Jews annually migrate for an uninterrupted treat of drugs, rock ‘n roll and nirvana.

Categories: Uncategorized

House Approves Nuclear Trade Deal With India – NYTimes.com

September 28, 2008 Leave a comment

The Senate majority leader, Harry Reid, Democrat of Nevada, urged his colleagues to drop their resistance, noting that under special rules for consideration of the nuclear deal it can ultimately be brought to a vote.

“For people who are concerned about the Indian nuclear agreement, and there are several senators that have concerns about that, all we would be doing is running out the time,” he said.

House Approves Nuclear Trade Deal With India – NYTimes.com.

US House rules, usually, require a 30 day notice, before any item can be put to vote. What was the need for this hurry? Why is the US so eager to close this deal?

Apparently, there is no significant US interest which this deal secures? The US was in the vanguard of 34 years of exclusion by the world community from nuclear trade. What has changed suddenly in the last 3 years?

Categories: Uncategorized

US House approves India nuclear deal – But Delays US$700 bn Bailout

September 28, 2008 Leave a comment

WASHINGTON (AFP) — The House of Representatives has passed a civilian nuclear pact with India that lifts a three decade-old ban on civilian nuclear trade with India.

The agreement, passed by a 298-117 vote, will now head to the Senate for its vote, but it was unclear if it would be passed before Congress adjourns ahead of the November 4 elections. (AFP: US House approves historic India nuclear deal).

In the middle of the US Dollar crisis, the US legislative body found time to pass this bill – where there is apparently no significant US interest!

How very remarkable!

On the other hand, the more important deal, the US$ 700 billion bailout has been delayed

despite some tongue-in-cheek overacting by Henry Paulson, as the Treasury Secretary dropped on one knee before Nancy Pelosi, the House speaker, imploring her not to “blow up” the deal by withdrawing Democratic support.

Categories: Uncategorized

Paulson Playing Favorites? JPMorgan Drooled Over WaMu

September 27, 2008 1 comment

The failure of Washington Mutual was an opportunity for JPMorgan Chase CEO Jamie Dimon, who long held a desire to buy the bank, the Seattle Times reports, and saw its large West Coast presence as particularly attractive. Now Dimon, who incorporated Bear Stearns earlier this year, has used the credit crisis to build the largest bank in the US.

JPMorgan Chief Had Long Drooled Over WaMu

While a lot of people were getting support, Paulson allowed Lehman to go under!

I wonder why?

Was he making it easier for his ex-employer Goldman? Is he helping out the JP Morgan – with WaMu and Bear Stearns?

Announcement

The 2ndlook model for a Third currency Bloc is ready. Join in to review, participate, critique and develop the First Cut. While the need for a new global reserve currency has been evident, there is very little in the public sphere. The speed of events has clearly caught the BRICS and Third World napping – and unprepared. But, not 2ndlook – who, from the very beginning, proposed that the world should stop clinging to the Dollar-Euro skirts.

Categories: Uncategorized
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