Dear All, This is a posting to draw attention to the implications of the US Economic Model that seems to have been the flavour with our North Block Mandarins for sometime now. Based on their prescription many States too have gone with this model of economic development. Thus they have blindly accepted the advice of international financial institutions, such as World Bank, IMF, ADB etc. Our very own JN-NRUM is largely a Central push to States, under the guise of the need for fiscal responsibility in urban management, to model the development using the financial prescriptions that these international institutions dish out.
With the collapse of the major votaries of this system of economic advancement in the home of the prescribing "doctors", is it time for us to ask our elected reps and bureaucrats to try a re-think? Bear Stearns, Freddie Mac, Fannie Mae, Lehman Brothers, American International Group (AIG) — together with a balance sheet size of well over a trillion dollars (the size of India’s GDP) have fallen in a heap of financial ruin. Lehman has invested over Rs. 500 Crores in Indian real estate. AIG operates here with one of India's most reputed biz houses. The Govt is planning to allow pension funds to be invested in stocks. Would our economic doctors see the writing on the wall, even if the care to take a look at the numbers? Or would they continue to expound the wonders of the current policies and camouflage the real intentions with euphemisms, such as, 'pooled finance mechanism', ' Swiss Challenge system' & other favourites! Regards, Mathew --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Citizens' Action Forum" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/citizens-action-forum?hl=en -~----------~----~----~----~------~----~------~--~---
