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Sanjay Banerji
Mukesh Ambani’s recent decision to take a voluntary salary cut of 66% has drawn reactions from all corners. Politicians and ministers lauded his action, saying it had sent a message to other CEOs in the country to follow in his footsteps.
Now that the fate of a certain small-car factory is signed and sealed, high-flying politicians pay daily visits no more, and the media circus has gone off to more newsworthylocations, we visited a rather deserted-looking Singur last month as part of a group of economists.
A direct fallout of the financial crisis is the unprecedented rise in the number of foreclosures of properties resulting in losses of millions of home ownerships across the world.
The financial wizards of Wall Street are going to soon learn to operate in a new world of regulation. That’s not surprising. After all, the origin and ramification of the crisis can be attributed to sale of financial papers based on other flimsy papers which were based...
Adding to capital base in response to stress test results is only a temporary palliative for banking.
While a global economic crisis mandates cooperation, it also ends up amplifying conflicts among the nations, which may prevent the countries from building up a consensus on policies needed for recovery and also put up barriers to the formation of a durable coalition among the nations.
A common element in all major corporate scandals of this decade is the questionable role played by major audit firms. In the Parmalat case, such fraud lasted over 13 years, with euro 12bn account inflation.
A widely held belief surrounding the Great Depression is that its recovery was exclusively engineered by a huge infusion of economy-wide government expenditures. The intellectual foundation for this belief came from Keynes who argued that such a stimulus would increase jobs in sectors that were immediate recipients...
Bad news usually bursts out in clusters. After the financial markets’ meltdown and the demise of Lehman and the US auto troubles, comes the news of a $50b fraud by Bernard Madoff, former chairman of Nasdaq and founder of a brokerage firm named after him.
