AIG has to be supported with increased loan package from $85 billio to almost $150 billion, fannie mae reports $29 billion loss, america's largest electronic retail file for bankcruptcy, world largest auto GM motors almost bankcrupt, same with ford motors....everyday one or other Fortune 500 company removing employee....today DHL sacked 9500 and Nortel 1300....are these grave news worth seeing rally in indian or any world market.....any rally is just a trap...beware! investor...,of these manipulation
Bailout package of 700 billion dollar accompanied by aid to AIG and other financial Institutes has generated more demand from corporate as also falling banks for further increase in bailout package. Not only this, all major countries have been constrained to follow this path of bailout package.
In India corporate sector has demanded for Rs.one lac crore worth bailout package inspite of the fact that FM Mr. Chidambram claimed a few days ago that India is not affected by foreign bank crisis and Indian banks are strong and stock market is wisely regulated.
On the one hand government claims that prices under free economy is decided by market forces and government has nothing to intervene, on the other they do not hesitat ...more