Whodunnit?

Came across this interesting (and funny) article on the blame game about the financial mess that we all find ourselves in. It is really interesting to note that no one is willing to accept the responsibility while we, as taxpayers, are being made to pay for it more than a couple of ways.

What I find amazing is that even Treasury has no idea as to how to go about fixing this mess. They came up with an arbitrary figure of $700B to deal with the mess by buying the distressed assets so that the financial markets may be unclogged. By the time the package was approved they had already shifted their strategy to buying stakes in the financial institutions which, as it turns out, meant preferred stock with no control. Then again it was time for buying those distressed assets and today its again a no-go. Its amazing that while the request was being made to the congress they had emphasized on the speed without having any idea about how they would be using that money. Did they expect Congress to not really pass the bill? Out of the first $350B 290 are already going to the financial institutions with nothing to write home about for the taxpayers. I am yet to hear any plans for the remaining $350B. Are they waiting for the markets to fall further so that remainder of the amount is also pumped into the same institutions?

And whats the deal with AIG? There was huge amount put into AIG initially (the one after which the management went to party at a resort), then some more and now they want the terms of their bailout to be restructured! Imagine we asking our banks to restructure our mortgages! But wait that's not the end - AIG still wants more money. You sure can't beat that. Its akin to telling your banker that you are unable to make mortgage payments so he should restructure your loan and by the way I need some more cash to tide me through the tough times. Fat chance!

And by the way, if you noticed that the writer of the article on Bloomberg (Mark Gilbert) is based out of London. Another evidence of the British sense of humor.

Gallows Humor

Read this in WSJ. Had to share it.

• What's the definition of Optimism? An investment banker who irons 5 shirts on a Sunday evening.
• What's the capital of Iceland? About $3.50.
• I tried to get cash from the ATM but it said "insufficient funds". I don't know if that meant them or me.
• What's the difference between an investment banker and a large pizza? The pizza can still feed a family of four.
• What does a hedge fund manager with no assets to manage say? Would you like fries with that sir?
• The credit crunch is getting bad, isn't it? I mean, I let my brother borrow 10 bucks a couple of weeks back. It turns out I'm now America's fourth biggest lender.

Good stuff. You can see it here.

ICL - Children of a Lesser God

I might be one of the few cricket junkies who are following ICL too. Well, I have to admit that the main reason for doing it is that I have subscribed to Zee Sports that is carrying the India vs Australia Test Series. However, I am impressed with what I have seen so far.
ICL definitely lacks the star power of its posh cousin IPL but it does have thrilling cricket. The matches are close and well fought. Though the bowling is on the weaker side batting is good and the fielding is absolutely exceptional. Case in point - amazing catch taken by Abhishek Jhujhunwala on the boundary. Good thing that cricket doesn't follow the rule of breaking the plane as in American Football. I tried to find the video of that amazing catch on youtube but it seems its not available. If I find it, it would be posted here. There was also this catch taken by Nantie Hayward today off his own bowling that was just fantastic!
This year ICL has added a team from Bangladesh - Dhaka Warriors. I never knew that we could associate Dhaka with warriors but then I haven't read much of Bangladesh's history. Anyways, the team looks good, probably better than the current Bangladesh national side. They have the same piece of luck though. Can't win matches. It matters little that Alok Kapali scored a brilliant century (the first in ICL) they still managed to lose the match by 2 wickets. Some luck!
Spin attack of Lahore Badshah seems to be better than current Paki attack. Saqlain was bowling in such a form that one had to wonder why is he not playing in the National side who struggles with spin attack carried out by part timers like Afridi and Malik. As always it is good to watch the good ole Inji. Looks like he has become more laid back and has put on some weight ;-)
Looks like the whole Kiwi team is here. Cairns, Tuffey, Bond, Harris - you name it and they are here. Was their a wholesale rate for the former Kiwis?
It is heartening to see the young cricketer playing their hearts out. Giving everything to the game. Good for cricket.
One more thing - Commentators include Tony Greig and Dean Jones. Does this mean that our vindictive BCCI and by extension ICC will ban them from mainstream commentary of "authorized" matches too?

The Master scales Everest

The Master finally does it!
It was never a matter of if, but only a matter of when.
Now that this record is out of his way, we can expect to see a more freely scoring SRT.
There is this excellent article from cricinfo on the Master, sent to me by my friend, Harish.
Yes SRT of old and now is lot different but equally dangerous.

Big B is Back!

Rejoice the Big B fans! Big B is back! Just checked his blog. He has posted some recent interviews on his Birthday.
I marvel at his writing skills (acting skills go without saying) and wonder whether writing is a genetic trait. Imagine Arjun Singh of Namak Halal writing in the language that he uses. Isn't it perfection at both extremes?

Bachchan Recites Bachchan

Came across the Bachchan Recites Bachchan album on the net.
Brilliant Poetry, Brilliant Recital!
Check it out.

Badminton - Lost Love...Found (yet again)

After a hiatus of many years (could never decide on the best method to count the years) I have stepped on the courts again. The feeling is simply great!
My affair with Badminton started five and a score (always wanted to sound like Lincoln) years ago in the town of Western Uttar Pradesh (India) called Meerut where we used to play on one open court in the colony. The court was cemented and falls were particularly nasty, some of them still painful to remember. Continued to play off and on in college and beyond till mid nineties when an injury to the eye put an abrupt stop to it. Due to traumatic cataract developed in left eye, as a result of the injury I wasn't able to sight the shuttle accurately - parallax Disheartened, I quit playing and went on to other pursuits (story for some other day).
This June when I moved my apartment to Highland Park, NJ I found a Badminton club near my complex and decided to give it a shot. Tentative the first day, I was surprised that I could spot the shuttle reasonably accurately. I guess over the years the eyes got used to the cataract and started compensating for some of the parallax. Of course being out of shape (unless you call round a shape too) does pose a few problems.
However here I am again playing Badminton, enjoying it not like I used to when I was about 50 pounds lighter but reasonably well.
Paradise Lost and Paradise Regained