Tag Economy

Citi’s Internal Memo on Repaying Bailout Money.

Touching memo,but syrupy corporate mumbojumbo.Serving customers for their needs sound altruistic.But do they really do it, with hidden financial charges and heavy penal interests for delayed payment?.Nor does the memo say any where that the Bank shall follow sound financial practice of lending to those who are in need and also who are capable of repaying.Emphasis seems to be more on catching with competitors than with sound financial management..What about the perks of their executives?Are they going to follow Goldman Sachs with bonuses?
They should be penalized for having mismanaged to the extent of making the Federal govt. loan Citi to tide over their incompetency, though they have made arrangements to repay..
Time that these corporates are made accountable.Mere expression of gratitude will not suffice.

India to create new southern state of Telengana-BBC.

Pandora's box has been opened.Non development of some areas have led to this.Instead of dividing states based on Administrative convenience, dividing on the basis of language has been a folly.Ironically, the whole process of , I would call disintegration of India, was started by Potti SriRamulu of Andhra, the same state which is clamoring for another division.Instead of focusing on developing all regions, the govt.has neglected th areas.Solution is to develop all the areas.What is to prevent the politicians to ignore some areas in the newly formed state , which would call for another state?
Another reason is local politicians, who have become indispensable in the Federal Govt. in Delhi because of Coalition politics,would like smaller states where they can form the Govt. and have a say at the Center.Added to this is the Maoists who have been fueling this division, especially in Andhra, where they control large chunks of territory.
Waiting in the pipe line for new states are;
Mithilanchal,Coorg,Saurashtra,Gorkha land,Budelkhand,Bhojpur,Cooch Bihar,Vidarba and Harit Pradesh.
Hindu scriptures list 64 states or principalities were in vogue .
May be we are honoring traditions.