Wall street hung to dry on Credit worries!

The Wall street got hung to dry today on the fears of a Credit crunch happening all over again. Whoever coined the term 'Black Friday' must have a sense of foreboding if he or she had walked into the treading hall today. On the normal days the trading hall is a mess, today it went way beyond that. With the crunch slamming the markets down, the investors were sent scurrying for cover.
Most of the worries stemmed from a fear of more debt write offs to come, as some of the major banks have already started to do that. And lets not forget the 'Countrywide episode', with that in mind, what started like a normal trading day soon escalated into a sell off! Will the situation improve, yes, it will, but not in the near future!

Rupee appreciates further!

With the Rupee appreciating further the exporters woe's only seems to be getting bigger as the Rupee is eating into their profits.as a result of this resurgent economy,the service sector has now started to look steadily at the European markets as the Euro seems to be the perfect answer to the rising rupee.
The currency dances apart,economic data of the Europe is much more promising than the United states and most of the Indian companies that have thought of diversification and asset and portfolio management are now choosing Europe over the United states!is this a state of things to come,a stronger Euro with all currencies pegged to it?

The Fed will cut rates and soon at that!

With the subprime mortages tidal wave at last relenting most of the banks and financial institutions at last began to regain their confidence.some of the European banks were the worst hit in the credit crisis but even they are going about business as usual.the reason for this 'happy to be okay' mood is the surety that the U.S Fed will cut rates and soon at that.this was only a rumor to begin with but with weak U.S fiscal data,this is becoming more and more of a surety.
Of course as a result to the last turmoil,banks are no longer willing to help those who cannot repay.that is the bitter truth that has come out of all this.there will no longer be a 'come one,come all,take the money' policy of any bank as regards the credit issue even amongst themselves.the credit policies of various banks and central banks are being streamlined even as i post this.but come on,that is only to be expected.this credit policy would in all reality stay around for some time to come.there is indeed a liquidity crunch going on,all that matters is whether you are an orange or a lemon or just plain old sour grapes!

finance,united states,europe,fed,subprime,

Going,going...gone!

At last the World Bank can rest easy with Wolfowitz tendering his resignation in what has been one rollercoaster season of sorts for the bank.this one man has managed to bring scandal and shame to a prestigious institution like the World Bank itself.i honestly think that it will take quite some time for the World Bank to recover its image of integrity.the facts are that the head of the World Bank had behaved in quite an underhanded fashion,very unbecoming for any banker and to make matters worse had tried to cover up and at the same time palm off the mess onto his assistants.his response for 'why he did that' was that no one at the bank had informed him that it was quite unethical to promote one's girlfriend way beyond her qualifications and to get her an enormous hike in salary at the same time.
what did he think 'unthical' meant?and when asked to resign,he refused to do so at first.naturally all the World Bank employees were miffed at the whole scenario and they were threatening to strike,a first of sorts for the Bank itself.finally Wolfowitz has agreed to resign with a 'fair' report on his performance.but i do have to say that going by what he did at the World Bank,any organisation especially banks should steer clear of "the wolf in the sheep's clothing"