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Banks heading towards bankruptcy !

  1. #1
    ShAdOwCoN
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    Smile Banks heading towards bankruptcy !

    Hi,

    Lehaman bros already Bankrupt and sold for scrap...And now Aig heading towards bankruptcy !....This will def have a resonating effect across the world including India...Especially The I.T sector which relies on Dollars for their software/services exports will take a beating ....

    Ofcourse will also effect investments coming into India from the devoloped countries
    AIG 's shares plummeted more than 60 percent and is heading Lehman's way ...

    IIm students effected ...as marquee recruiters Lehman and Meryill wont turn up this placement season

  2. #2
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    This is not looking very good at the moment... We can only hope for this situation to get better coz if this continues we are in for a world wide economic depression ... and I think we are actually going through one at the moment and just cant tell that we are.

    Indian stock market will take a very bad beating if market sentiments dont change... leave alone the unemployment which is waiting for us around the corner

  3. #3
    Guardian Angel just4kix's Avatar
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    Analysts are saying that this is probably the worst period after the great depression.

    Lehman Brothers had quite a bit of holding in some IT companies, e.g., KPIT Cummins. They had holding in other Indian compaies also. Wonder what will happen.
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    Default Credit woes: IT cos may cut 25K jobs

    Collection of my useful Threads - All in One

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    Looks like sensex is gonna dip below 13k any time now...

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    Please go through the interview of Jim Rogers. This was predicted long back and worst is yet to come. You may see lot more job cut and real estate rates coming down.

  7. #7
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    Quote Originally Posted by r_moyal View Post
    Please go through the interview of Jim Rogers. This was predicted long back and worst is yet to come. You may see lot more job cut and real estate rates coming down.
    Agree.

    Check Jim Rogers :
    Jim Rogers: 'It's going to be much worse' - Jan. 31, 2008
    Exclusive Interview: Jim Rogers Predicts Bigger Financial Shocks Loom, Fueling a Malaise That May Last for Years

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    This trend will definitely affect our economy.But we are to some extent immune to them as we do not take risk especially on the market economy.

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