I was enjoying your rebuttal till the last line, where your English confused me.
Quote
was
> vying for Citibank's top job and was lobbying hard for it, yet the board,
> instead, picked an Indian with an impeccable reputation.
>
Ah - two biases for the price of one - anti-banker and anti-Indian!
Unquote
Which part of "Indian with an impeccable reputation" gave you the clue that the
writer was anti-Indian?
Aadisht Khanna <[EMAIL PROTECTED]> wrote: The level of financial FUD in this
article is horrible. Ad-hominem attacks
on Shuakat Aziz, with no proper financial reasoning. Aziz *might* be a
crook, but this article doesn't prove anything.
On Jan 14, 2008 8:58 AM, shiv sastry wrote:
> Needless to say, over the past
> eight years banks have been more profitable than they had ever been. And
> who
> got screwed in the process? The average depositor, of course. Thank you,
> Shaukat Aziz.
>
OK, maybe the average Pakistani depositor has been screwed. I don't know if
she has. But banks becoming profitable does not automatically imply
depositors being screwed. It's not a zero-sum game.
> Yet, because of Shaukat Aziz's policies of providing cheap credit to one
> and all, he can
> be credited with selling more consumer electronics than any advertising
> campaign. But if we weren't generating more power, how was the average
> Pakistani supposed to run his fancy new air-conditioner and deep-freezer?
> Today's power crisis, which is affecting both the consumer and the
> industrial
> user, can squarely be blamed on Shaukat Aziz's flawed economic policies.
If credit *had* become cheap, it would have been cheaper to finance power
projects too. If power wasn't added, that's presumably because the power
sector wasn't liberalised enough. Which is bad. But saying that credit
should flow to power projects before it flows to ordinary citizens who can
use it to improve their quality of life (and cheap credit is used for many,
many more reasons other than buying consumer electronics) smacks of elitism.
There is an atta crisis in the land today and prices have spiralled out of
> control
> because Mr Aziz decided to allow the export of wheat as a political favour
> a
> little before he took off for London. According to news reports, a rice
> crisis is also in the pipeline.
Yeah, except food prices have increased worldwide. Can't really blame Aziz.
> Our alternate energy policy is also one of the most backward in the
> region.
> Permissions to set up wind farms have been doled out to cronies and
> political
> allies like party favours.
> Sweetheart deals all around for everyone. Sad, but we can thank the dream
> team.
This is probable, because it's a feature of energy politics in all
countries.
> Hiring a private banker to do the job of a policy economist is like
> getting a plumber
> to fix your car's engine. I do believe in divine justice and Shaukat Aziz
> was
> vying for Citibank's top job and was lobbying hard for it, yet the board,
> instead, picked an Indian with an impeccable reputation.
>
Ah - two biases for the price of one - anti-banker and anti-Indian!
Indrajit Gupta
Camp: Hyderabad
---------------------------------
Get the freedom to save as many mails as you wish. Click here to know how.
