Saturday, September 20, 2008

Fall of Capitalism

London Bridge is falling down, Falling down, Falling down.
London Bridge is falling down, My fair lady.
How will we build it up, Build it up, Build it up,
How will we build it up, My fair lady.
We must build it up again,Up again, Up again.
We must build it up again,My fair lady.
Build it up with stone so strong, Stone so strong, Stone so strong.
Build it up with stone so strong, My fair lady.
Stone so strong will last so long,Last so long, Last so long.
Stone so strong will last so long,My fair lady.

The London bridge is falling down ! Finance sector which was always considered to be one of the most stable industries is in trouble. For the first time in the last 50 years people in financial sector are on the verge of loosing jobs. It is being said that the job of every 10Th employee working in the finance sector is in danger. The situation is even more difficult for people working with multi national organisations.
Hopefully fall of Lehman, Merrill Lynch, restructuring of AIG should be the last of the bad news and no more should follow. My only regret in this entire episode is " I wish they were some Indian banks who would have been in a position to takeover a few of these falling US Banks". But then

If wishes were horses, beggars would ride.
If turnips were watches, I would wear one by my side.
And if "ifs" and "ands"Were pots and pans,
There'd be no work for tinkers!

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