A master piece. On Tue, Nov 4, 2008 at 12:55 AM, ulprasanthi <[EMAIL PROTECTED]>wrote:
> Source: Ryze Chennai Network > http://www.ryze.com/posttopic.php?topicid=996685&confid=660 > > Posted by: Dr.Senthil, [EMAIL PROTECTED] <drsenthil23%40hotmail.com>, > Tamilarasan, > www.pranaveyecare.com > > ========= > > Topic Title: Learn American Economy From Chennai Auto Drivers > > Chennai Auto drivers!!! In the financial arena!!! > > MANY NEWSPAPERS, HAVE NOT BEEN ABLE TO EXPLAIN THE PHENOMENON IN SUCH > A SIMPLE STYLE! > FOR THOSE OF YOU WHO KNOW (Madras) TAMIL IT WILL BE MORE > ENTERTAINING!! > > A conversation between Two Chennai auto drivers while attending the > Gandhi Jayanthi celebrations of their auto drivers association. > > Here enter Peter and Gopal, knowledgeable as typical of auto chaps. > > Peter: Enna Gopal, did you hear about Walltax Road? > Gopal: No. Enna aachu? Accidentaa? Which auto was involved? > > Peter: No, no, nothing like that. Walltax road crashed last week. > > Gopal: Appadiyaa? I did not have a savaari near that road last 10 > days. Which building? Was it that building being built by that > doobaakoor company? Or did the road break in the middle? > > Peter: Nothing like that. This Walltax Road is in America. > > Gopal: No, Peter. I have regular savaari of foreigners. In America you > have one Salem, one Madras but no Walltax Road. There is only a Wall > Street in America. > > Peter: Yes, I am talking about Wall Street only. The latest news is it > is re-named as Walltax Road. President Bush renamed it because it is > built by taxing the Americans. > > Gopal: Oh. Like that aa? How did it crash? One more Bin Laden plane? > > Peter: No, that was in 2001. This time, banks collapsed. > > Gopal: Oh! Like our Madras finance companies 10-15 years back? > > Peter: No. no. Much bigger. The banks took money from people and gave > it as loan to other people for buying land and houses but the > borrowers did not return the money. > > Gopal: Oh, like Anubhav Plantation. So did the Bank manager get > arrested? > > Peter: Illaypaa. (No, boss). When the borrowers did not repay, the > bank took the loan papers and sold it to someone else. > > Gopal: Aahaa. Ippo namma route-ikku nee vandhutae. (Now you are coming > to my route). Madras Motor Finance and various companies take over by > P.Rajarathinam maathri. Must be Political party benami money. > > Peter: Noo daa. The bank sold the papers to some one foreign company. > > Gopal: Seri, seri. (OK, OK). Like our Sivasankaran. Like TN Mercantile > Bank shares or Aircell-Maxis? > > Peter: Dei Gopal. Ippaddi interfere senjaa (if you interfere like > this), how can I tell you the complete story? > > Gopal: OK paa. I will keep quiet. You tell your story. Anyway we have > to stand till Chief Guest comes. > > Peter: See, these banks first took money from people and then lend the > money to others to buy houses. Then they read a report that house > prices willo go up. So, these banks first accumulated the loan pepers > and sold them to another for a profit. With this extra money, they > borrowed some more money and gave it to others to buy more houses. > Only problem, since all wealthy people already owned houses, the banks > started lending money to unemployed people to own houses even though > their income was not sufficient to repay the loan. > Gopal: Sorry, baa. You mean like the olden days Loan Mela of Minister > Poojary? You know, my uncles got themselves pachai kutthufied > (tatooed) with 2 leaves and got Rs.1,000 loan during MGR time? They > were able to drink for one whole month from Government Kallu (toddy) > shops. > > Peter: Yes, yes, like that only. The difference is instead of giving > money for drinking, they gave much more money enough to buy houses. > These people who took this easy money then went and bought houses at > very high prices without negotiating and then used further top up > loans to buy electronic gadgets and costly cars. All this, when they > were not getting any income to repay. > > Gopal: Oh ho. Like how we get flats allotted under Kudisai Maatru > Vaarium (Housing Scheme for lower Income people) and then give it to > other people on lease. > > Peter: You could say something like that. Only, this was at much > higher amounts. It is like you and me (auto drivers) getting a loan to > buy 3-bed room flats in Poes Garden which we cannot repay even for > watchman salary. > > Gopal: Yebbaa. Super Star second ponnai, balcony-le irundhu site > adikalaam innu solu. (You can ogle at the 2nd daughter of Super Star - > English translation for Super Star is not necessary since he is very > famous!) > > Peter: Yes, yes. At least for 3-4 months. Anyway, after that, the only > people who can afford those houses are Indramma (Indra Nooyi) or > Kalaignar's children or Sashikala. So, the bank which gave you the > money in the first place can only ask you to get out of the house but > cannot find new buyers to recover the loan. This type of loans were > sold by the banks like how they sell "sundal" in Marina beach. > > Gopal: Namma Readymoney type innu sollu. kadan vaangittu thiruppi > thara mudiyallai. (After taking loan, not able to repay). Then you > must be ready to put Dindigul Lock and Escaping. Aennna (why because), > they will send rowdies to beat you up and you have to do self-suicide > like poor GV (film producer and elder brother of Director Mani > Rathnam). > > Peter: That is the case in India. But in America, No. American > government is arranging Anticipatory Bail for these banks for $700 > billions. Using this money, the government will buy all these vethuu > loan (loans worth nothing) and save the banks. > > Gopal: Namma Indian Bank case ! What is there, afterall government > owns Indian Bank and so put money from left pocket to right pocket. > > Peter: No. no, Gopal. These American Banks are privately owned. > American Government is not the owner. Their owners are very wealthy > people. > > Gopal: Adda Kabali (Holy Kabali, an important temple and theatre in > neighbouring Mylapore and Mandaveli respectively) . The American > Government arranges Bail even for this? The American Government will > buy loans which are as worthless as Sundal packing paper in the beach? > That too for private banks? Tell me, will they buy my old, damaged > Auto? I want to become an auto owner and not be just a driver for > autos owned by policemen (In Chennai, it is common practice for police > constables to buy autos using their 2nd income and give it to drivers > like Peter and Gopal for everyday use). But where is the American > government getting the money for this? > > Peter: From common citizens who did not take loans to buy houses they > cannot afford. That is why it is now called Walltax Road in America. > > Gopal: They are idiots or what? If our government asks our citizens to > pay for banks' mistakes, they will say "Aasai, Dosai, Appalam, > Vadai" (Desire, fried flat rice crepes, papad, fried rice and lentil > fritters - translation for an international audience) and go for a > massive oor valam (procession) and strike led by Prakash Karat and > Mamatha Banerjee. In turns Kalaignar and Amma will go on relay fast in > Anna Samadhi. Plus, Anbhumani will ban Vetrilai Seeval (betal leaves > used in lieu of chewing gum in South India) and protest separately. > Peter, tell me, will it not make sense to let these banks go bankrupt? > After all, the people who make mistakes must pay for them, right? If I > do the same in my house, my Appan (father) will drive me out of the > house and I have to "escape" to avoid seruppu adi (being beaten with > slippers). > > Peter: Adhudaan illai (that's what is not happening). In America, it > is election year for President and also their Parliament. So they > quickly extended their Parliament session and passed the legislation > after some mid-night drama. Taking houses away from millions of people > is not a good idea if you want their votes. > > Gopal: Oh, like that aa? > > Peter: That's not the only thing. These banks did some interesting > transactions like our brothers in Burma Bazaar - like selling shares > which they did not have and then buying them when the price varied, > hoping to make a profit but ending with massive losses. > > Gopal: Ada Mupaathama (an important female deity in West Mamballam, > frequented by auto drivers!). You know Peter, what this sounds like? > > Peter: What does it sound like? > > Gopal: Gandhi kannakku (Gandhi accounting - cannot be translated > further). Chief Guest has come. Let us put flowers on Gandhi statue > and have breakfast. > > ======= > > Comments from one Mr. Ganesh Ram: > > Excellent. One addition is, the buying of "Commercial Paper". If > anyone wants to know what a "Commercial Paper" is and why it started > all of this problems you should search in www.NPR.Org. There should be > a nice podcast on this subject under probably "This American Life" a > weekly program that throws light on what happens in America that is > not sensationalized by the news networks. > > Of course NPR,National Public Radia, is publicly funded and has other > variety programs in Podcasts as well. > > > -- Thank you for your co-operation, Sincerely, Rakesh Aryasomayajula +91-9966668508 -- Notice: The information contained in this e-mail message and/or attachments to it may contain confidential or privileged information. If you are not the intended recipient, any dissemination, use, review, distribution, printing or copying of the information contained in this e-mail message and/or attachments to it are strictly prohibited. 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