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It is now wave of fear and distrust that has adversely affected the banking, stock market and financial sector in the world. Measure taken by Bush administration has not produced any fruitful, effective and positive results neither in banking nor in share market.
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