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Tuesday, October 21, 2008

What do you feel about the financial crisis?

This is a real comprehensive and clear picture of the financial crisis for those interested to know more or understand the issue.

Two bloggers I follow – Mad Momma & MumbaiGirl have commented about the crisis.
And I am kind of guilty of what they say. When the first news of the crash started coming in, and reports of all the super rich, over paid executives losing their jobs started flooding the media, I felt gleeful – petty, but gleeful all the same!

It just seemed so unfair that failed CEOs were walking away with multi-million dollar severance packages. Where is the justice in this? I understand that lay-offs affect a larger portion of the employees, many of whom have not yet bought their Ferraris and homes by the beach. It also affects those who are hoping to put their children through a good college education, to ensure a sound financial future for themselves… normal people like me and those I move around with.


Both being journalists (R & I), with a ringside view of the rich getting richer, our opinions are often one part socialism, one part pure envy and one part facts.

Of course, now with our investments (meagre to begin with) standing at half its original value, we feel the pinch too. We just wish those overpaid CEOs and honchos alone were hit, leaving the everyday investor unaffected.
In a perfect world, that would be the case.

In a perfect world, all of us would be rich, a size 10, enjoying multiple-orgasms, retired at 40 and totally free of envy. But this is not a perfect world. It’s a world full of Thackerays, Palins, Bin Ladens & Ashok Singhals.

It’s a world full of inequalities, and sometimes that means when someone falls, someone else will gloat. Because objectivity is not a natural human impulse. It’s a studied and developed attitude.


Anonymous said...

I agree. It is a studied and developed attitude, not like the onrush of instintive jealousy or fear...

I like your blog. this is someone from hyderabad. I especially like your posts on marriage and your daughter. Keep going :)

mumbaigirl said...

The CEOs were paid too highly, but not every employee of an Investment Bank is a CEO or paid those sums. Sure some people have lost their hope of a Ferrari but a lot of people have other obligations like college educations as you say. I know quite a few Indian bankers here whose salaries supported the entire extended family and not lavish homes by the beach!

shyam said...

I like the last two lines. Very true. And difficult to achieve.

Y'know the worst part of this recession? The too-highly-paid honchos will still have enough and more for themselves and their family to live off for the rest of their lives, even if they do not do a single day's work from now till they die. THAT bugs me.

umm oviya said...

i totally agree that a lot of regular folks will be badly affected. what i am saying is that it's just human nature to sometimes get cheap thrills such as this. like you know the aussie cricket team is awesome, but that's all the more reason you want to see them fail!