NEW FACE OF TERROR IN INDIA

 The terror in Indian cities was sporadic and generally a backlash of specific events or Pakistan sponsored attacks. As soon as the attack was made there would be a shrill cry from the Indian politicians about Pakistan trying to destabilize India with imported terrorism. This view would be spontaneously supported by the Media and all details of the probe if any held would be shifted to the inner pages of the paper and would be swept down the carpet. This has been going since 1983 even the Kashmir became a melting pot and the insurgency there became ripe.

 After 9/11 attack on US Pakistan slowly but decisively distanced itself in getting involved in large scale participation on ground level logistics leaving it to already entrenched PAK/Kashmiri terrorists. The funding of course came from elsewhere with at best Pakistan being a conduit. Events unfolding after 2002 slowly but inexorably led to a creation of home grown terrorists which was assiduously ignored by all the political parties lest they offend the sentiments the Indian Muslim minority. In fact they vie with each other to theories of external intent to destabilize. If one were to look at it logically it would be clear that whenever external agencies were involved the intent would be create damage loss of life and property which were designed ignite the communal tensions between Hindus and other religious minorities. The effects of those attempts were manifest like you saw in Ahemadabad, Baroda riots and not to forget Godhra riots.  

 The powers to be in India at all points did not attempt any long distance policy to address this evil for they were afraid of vote bank politics or the bogey of secularism was raised by centrist and leftist politicians thereby putting the right wing Sangh Parivar in the defensive. So shrill where their attacks that a democratically elected government finds it difficult to execute a death sentence confirmed by Supreme Court for a crime no less heinous than treason that is attacking the Parliament.  The common methodology was not to allow any stringent and coordinated attempt to strike at base of this malady and they very effective so much so today a very effective but may be a small terror network has emerged which can attack any city at will. The law enforcement agencies are prevented from adopting a Proactive approach towards this problem. A recent example of our politicians not willing to take bold and proactive steps was how effective the cry for a national counter terror outfit for clearly our ground level police forces are not trained or tuned to tackle this menace. After doping the customary rounds in news headlines the demands just vanished. Nobody talks about it now.

 While conceding the fact the networks are very small but the impunity with which they carry out these attacks would bring the peripheral believers in this philosophy into active play thereby expanding their base. Any political/social/terror activity flourishes only with willing converts and we now find that these terror networks are able to attract young, educated and intelligent youth to their cause. Hitherto the profile of a terrorist or a criminal was that he/she was poor with no education and avenue for meaningful livelihood. Now you the emergence of new elitist and educated middle class joining the club would provide these terror networks faceless volunteers as they are one of us in everyday life going to office

 This is a chilling reality that demands an immediate proactive response which should begin with a National anti terror network with powers and jurisdiction akin to FBI in US. The other but more important factor is to integrate them with the national mainstream and making them believe they are Indians and their future lies in the betterment of this nation. I do not think for politicians have that power or inclination sand so we are left with other alternative than a divine intervention.

 EVERYONE HAS TO SIT UP AND THINK ABOUT THIS PROBLEM AND DO WHAT IS NEEDED TO GALVANISE PUBLIC OPINION. ARE YOU WILLING AND DO YOU BELIEVE YOU CAN MAKE  AN IMPACT?

HOBSON’S CHOICE FACING A TYPICAL AMERICAN VOTER

A middle class bread winner of the American family is not college educated and has largely led a life of insulation if not complete against financial miseries. Because for him there was a job available to him at wages which were more than our Karat’s friends generally call ‘a living wage’.

The particular use one of individual’s name is made because he claims to be the guardian of a particular philosophy which is buried & gone. I might have been a little generous because may be in that sparsely populated spectrum believe that he has not inherited the mantle. But then you know I am always generous where there is no dispensation of cash.

The name ‘Karat” is involved here to bring a comic relief to my presentation. How else would you react to his reported statement about his Party in Parenthesis HE saved the country from financial ruin by preventing Manmohan’s Govt from dealing with Top five merchant bankers whose heads are now in the chopping block for mistakes due to common greed to post better profits.

My digression is propelled by the pronouncement of my personal philosophy which has made this essay (oh” no not classically) a little long winded. Let us now stick to the prepared text.

Aside: OH. “Stop tugging at much shirt”

The American voter is largely been led to believe that every thing is hanky dory and that the doomsday prophets will always say things differently. Today he wakes up with a prospect of whether his bank in which he has may be $ 5000 will stay afloat and that he can draw his savings and proceed live his life as he has been doing and his insurance will pay up on his retirement or may be honour a commitment if God Forbid he has an accident. This is a very unsettling scenario of an American which we do not understand because we have lived with no such guarantees on our own. (As the Tamil saying says “God created the tree he will water it)

Coming to the dilemma which has been my tile for the day on the Election Day one has to look (here I am doubling up for the poor American voter) at the available options:

Incumbent: i.e. The Republican Party:

A candidate who is so old that he cannot stand up to fight as a drunk when he is challenged (like Woodhouse comically referred to his hero) and mostly so when his detractors question him on his ability. In his dithering best he chose a Vice presidential nominee who calls the Opposing captain names with impunity and taught us new English ‘HOCKEY MUM’.

Challenger: The Democratic nominee:

A man who entered the fray with a lot of bluster about CHANGE and now appears to be undergoing a change himself. A case in point was his press conference today in which he dithered to give an answer about the stand he was supposed to take on the BAIL OUT PACKAGE FOR THE FINANCIAL INSTITUTION.S By the way do you remember his running mate’s name?

On the ongoing discussions in the senate give a very clear picture where both of them stand. I.e. Nowhere.

What is pathetic is the world’s most powerful democracy is fielding two candidates in an election in times of unprecedented crisis to their hegemony & they can barely stand on their on feet one because of his age and the other because of the burden of expectations about himself.

IN CASE YOU DO NOT BELIEVE ME PLEASE WATCH CNN.

Honestly I think it is an election featuring Vijyakanth and Vadivel ( As Vadivel seems to challenge Vijyakanth the other day on TV) I am not going to allocate names to my analogy. You be the judge

Warning:

Please note that this is an syndicated column and do not ask me by whom I am trying to figure out a good authentic name and by the way who is going to check

Credirt Meltdown in US Markets

The global stock markets take a cue from US markets as they normally signify the strength of their economy and with it their ability to intervene in international markets through short term and long term instruments of money in the form FII investments through PNs and direct or indirect investments.

It might be interest to note that a primitive money market like India has controls whereby an institution which has raised money in markets is answerable and a set of norms are adhered to which would show the health of the institution in unambiguous terms.

It is rather pathetic that US has no such guidelines for non-banking institutions which have been the bane of the network at least in so far as their current market woes are concerned. The system as is prevalent there allows a bank to lend to merchant banker/NBFC in Indian parlance based on securities to the satisfaction of the lending bank. Now this clearly throws a blanket on the end use of funds siphoned out of the deposit bankers’ system. With the Investment banking companies under no regulatory mechanism the end use of the funds are camouflaged. Because of this nobody really knows the extent of NPA’s in US system. The current bailout plan is at best a considered option to tackle to the impending crisis. A lot of bull is being aired that the entire woes are related to the mortgage loan sector. This will not pass muster as the US population is about 200 million and assuming that 50% of them which is practically every household availing housing finance of around US $ 200000 each the total outstanding will work out to less than $ one billion and in such a scenario where is the need for a bail out packing $ 700 billion. WHERE IS THE CATCH?

The indirect acknowledgement of the Asian banking system’s entrenched and time honored values is reflected by the US govt’s insistence to the Investment banking companies to turn themselves into banking companies ( (Merrill Lynch and Lehman Brothers) in as much as their public accountability increases.

Even the current bail out plan does not ensure transparency and one silver lining in the horizon in this bail out package with the given the impatience of the American system very soon the assets collaterally to mortgaged to US government under the bail out package will come to market which in turn will create a potential and regulated market for substandard assets which will be more transparent than the sub prime lending. Given the Asian wisdom this is an area where we have not been successful.

So something good can come out any catastrophe