When Going gets tough, the Fed Gets going …It been over a year and a half since all have been looking out for [some are watching out for] the Fed Res to bring in the new regulatory regime looking to rescue the US economy and the lot of others that the US effects, from major collapses extending the ‘too big to fail’ notion.
Senator Dodd’s new proposal got to the table a bill to empower Fed Res over all major FIs vis-à-vis just banks, against which oversight assets of about $50 billion will be delegated from Fed Res to other federal agencies. And the US President’s office would name the Fed Res President…. [think jazz like Independence of a regulating agency or Non politicizing them?.... too bad, American law makers think otherwise, under the pretext that tax payers don’t end up funding bail outs]. FYI… the Dodd Bill is widely opposed by both the Treasury and Industry for obvious reasons.
While this happens in the Yankee land, in India just a few years ago oversight of a lot of businesses for FI which rested in the Central Bank moved to the Market Regulator. Down stream flow to the Dodd bill.
Instance 2, another proposed bill to curb Prop trading by FHCs, thank fully yet a bill and so far not feasible was last heard about this. This one again, wasn’t too welcomed by the Industry and was seen as a defensive move.
About the same time, our side of the globe, a lot of firms evaluate more active prop trading that has a financially lucrative taint and authorities don’t mind.
Moral of the story, the minds at opposite sides of the globe think opposite, owing to either fundamental differences in the kind of economies that the two of these are…. or is it basic difference in their standing on the growth/ development curve. It continues to be you go north I go south story.
Monday, March 22, 2010
Sunday, March 14, 2010
High on Speed.... Higher on Drama
Last evening marked a more eventful than expected beginning to this Formula 1 season.
The Bahrain Grand Prix being the onset of this year's World Championship turned out to mark numerous must watch moments.... for the ones who lacked time... Thank me...
The drama on the track begin as soon as turn 1 of Lap 1 when Webber’s [Red Bull] engine emitted clouds spinning Kubica [Renault] and Sutil [Force India] out of the points spots.
If that was not enough, Lap 2: Chandhok [HRT] crashed out of the race. Followed by BMW Sauber not making it to the end alongwith Debutants Glock and Di Grassi [Virgin] grace a` mechanical failures. The list continued with Petrov [Renault] facing a suspension problem which was detected during tyre stop at Lap 13.
Vettel starting at pole maintained an unbeatable lead till lap 34 going to dust that late owing to a spark plug failure ,this was when the face of the race changed with F. Alonso [started 2nd on the grid] finally overtaking Red Bull with fastest lap record ~ 1 min 58 secs followed by team mate Massa [started 3rd on the grid] following suit and finally Hamilton [started 4th] making a third place finish for Mc Lauren.
Vettle till lap 49 despite machine’s give up maintained his position 4 against Roseburg [Merc] finishing 5th [started 5] and Schumi finishing 6 [started 7th].
The final score Board showed:
Ferrari with 43 points
McLaren with 21,
Mercedes GP with 18
Red Bull with 16.
As for Racers: Alonso: 25 points, Massa: 18, Hamilton: 15, Vettel: 12, Rosberg: 10 and Schumacher: 8.
After the dramatic Bahrain GP, eyes are set already southwards for the Aussie GP [March 26-28].
- The God of F1, Schumacher made a come back from his 3 year old semi-retirement with Mercedes Benz GP Petronas.
- The Track was more complex with 8 new corners added reducing the laps to 49 [circuit length ~ 6.29 km and race distance ~ 308.41 km].
- And the Much talked about new points system….
Ferrari with 43 points
McLaren with 21,
Mercedes GP with 18
Red Bull with 16.
Sunday, March 7, 2010
Vacances à Pondicherry [quick travel guide]
In fond memory of the very little good time i had in life!
Day T: After dodging [read surviving] the stardom and celebrity like attention from Men, Women and Animals in Bangalore, me and my Comrade, headed to the UT of Pondicherry on our so claimed 'Brave' Excursion.
Day: T+1: Location: Pondy [5.30 hrs] the two dames set out in the unknown.... combatting a sudden attack of 'tamil', with a "? + Grin" look [no understanding a jack]. Urgent Note to self: Paitence is virtue! Reaching the Hotel was cool.. since we weren't aware of the cardinal rule on travelling around in Pondy, "BARGAIN"... so far so good.
Experiment:
Aim: Travel around in pondy
Procedure: There we were hiring the Hotel travel guy to show us around on day 1.
Result: We showed the guy around... yes, yes, his own city which is a tourist place. [pl. check my picasa to believe this]
Observation: South Indians is that they aren't too familiar to places other than 'how to get to work from home and back' or at the most 'the one place where they " supposedly party" and dude they're more confused than me. [if u know me, u know how bad that is].
EOD: Seen the entire city around in a day.
T+ 2: The Car converts into Auto Rickshaw.. what a ride man, hero of a rickie... btw, before you start pl. bargain om fare... awesome fun....
T+3:Saw around on foot mostly.... there was so much to explore... roamed around a lot and left the town that evening to head back.
Food: Vegetarians pl. carry meals [read my Guju mates pl. carry your 'theplas']. The town doesn't offer much to eat, atleast for the vegetarians.. not many French are gourmets i guess.
Eateries:
1. Baker Street [a French Boulangerie....try out the authentic french breads and cheeses, Meringue cookies, quiches, florentins etc.]
2. Rendevous Cafe [cheap spirits, not so good service, pl. ask the Maitre d' to explain what you choose to order should you not be prepared for unwanted surprises]
3. Le Cafe [good to look at.. nicely made overlooking the pondy beach.... that's it]
4. Le Soliel [looks neat]
5. Most hotels you'd put up in, might be the safest food around.
What to do there:
1.A view to the following if you like photography [located at a distance of 5 mins. walk from each other alongside the pondy beach nr the french quarters and the eatries]: The French War Memorial, Gandhi Memorial, the Light House.
2. Visit the Kaps church [Notre Dame Des Anges]... this is not a well maintained heritage but has a cute French officers' memorial/ tennis court right across.. a total delight.
3. A few temples off the French quarters... [frequented by a lot of crowd...we well did without those]
4. Trip to Plago Paradiso [Paradise Beach]- the beach has a creek on its mouth for padel boats, speed boats, tiny expensive jet ski rides.. a ferry takes you to this regular beach on the other side [we @ mumbai dont treasure beach trips much.....though the creek is a good visit].
5. Auroville- a MUST VISIT, a photogenic place with a spiritual incline. Maitri Mandir [the golden spherical concentration hall] makes the visual attraction.
6. Good amount of shopping in auroville and even around pondy beach [we even patronised this shop called 'padumai'] for good deals remember to master the act of polite bargain till you drop. Shopping could include: Leather clutches/ pouches, paper mache articles, aroma candles, insence sticks, cloth bags, summer ware [woof!! its not even the half of the things i can think of]
All in all, this place is a must visit... pl. be adventures enough to hire a bike or atleast a bi-cycle to see around on your own on day 2. Also, remember to carry sun block [i got back along with a crazy tan]... Frequent buys must include mineral water. Pl. check your calendars before you head there, pl. avoid all religious festivals and so to say spirit absent days.
Day T: After dodging [read surviving] the stardom and celebrity like attention from Men, Women and Animals in Bangalore, me and my Comrade, headed to the UT of Pondicherry on our so claimed 'Brave' Excursion.
Day: T+1: Location: Pondy [5.30 hrs] the two dames set out in the unknown.... combatting a sudden attack of 'tamil', with a "? + Grin" look [no understanding a jack]. Urgent Note to self: Paitence is virtue! Reaching the Hotel was cool.. since we weren't aware of the cardinal rule on travelling around in Pondy, "BARGAIN"... so far so good.
Experiment:
Aim: Travel around in pondy
Procedure: There we were hiring the Hotel travel guy to show us around on day 1.
Result: We showed the guy around... yes, yes, his own city which is a tourist place. [pl. check my picasa to believe this]
Observation: South Indians is that they aren't too familiar to places other than 'how to get to work from home and back' or at the most 'the one place where they " supposedly party" and dude they're more confused than me. [if u know me, u know how bad that is].
EOD: Seen the entire city around in a day.
T+ 2: The Car converts into Auto Rickshaw.. what a ride man, hero of a rickie... btw, before you start pl. bargain om fare... awesome fun....
T+3:Saw around on foot mostly.... there was so much to explore... roamed around a lot and left the town that evening to head back.
Food: Vegetarians pl. carry meals [read my Guju mates pl. carry your 'theplas']. The town doesn't offer much to eat, atleast for the vegetarians.. not many French are gourmets i guess.
Eateries:
1. Baker Street [a French Boulangerie....try out the authentic french breads and cheeses, Meringue cookies, quiches, florentins etc.]
2. Rendevous Cafe [cheap spirits, not so good service, pl. ask the Maitre d' to explain what you choose to order should you not be prepared for unwanted surprises]
3. Le Cafe [good to look at.. nicely made overlooking the pondy beach.... that's it]
4. Le Soliel [looks neat]
5. Most hotels you'd put up in, might be the safest food around.
What to do there:
1.A view to the following if you like photography [located at a distance of 5 mins. walk from each other alongside the pondy beach nr the french quarters and the eatries]: The French War Memorial, Gandhi Memorial, the Light House.
2. Visit the Kaps church [Notre Dame Des Anges]... this is not a well maintained heritage but has a cute French officers' memorial/ tennis court right across.. a total delight.
3. A few temples off the French quarters... [frequented by a lot of crowd...we well did without those]
4. Trip to Plago Paradiso [Paradise Beach]- the beach has a creek on its mouth for padel boats, speed boats, tiny expensive jet ski rides.. a ferry takes you to this regular beach on the other side [we @ mumbai dont treasure beach trips much.....though the creek is a good visit].
5. Auroville- a MUST VISIT, a photogenic place with a spiritual incline. Maitri Mandir [the golden spherical concentration hall] makes the visual attraction.
6. Good amount of shopping in auroville and even around pondy beach [we even patronised this shop called 'padumai'] for good deals remember to master the act of polite bargain till you drop. Shopping could include: Leather clutches/ pouches, paper mache articles, aroma candles, insence sticks, cloth bags, summer ware [woof!! its not even the half of the things i can think of]
All in all, this place is a must visit... pl. be adventures enough to hire a bike or atleast a bi-cycle to see around on your own on day 2. Also, remember to carry sun block [i got back along with a crazy tan]... Frequent buys must include mineral water. Pl. check your calendars before you head there, pl. avoid all religious festivals and so to say spirit absent days.
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