Recently, Barack Obama made a caustic remark about the credit crisis. ?Part of the reason this crisis occurred,? he said, ?is that everyone was living beyond their means, from Wall Street to Washington to even some on Main Street.? Soon, most probably, he would be presiding over one of the most extensive government interventions in financial markets in US history. Once the crisis passes, a key question he should answer is, how to curb the mounting US national debt?
J Anand Menon Kochi
Go for rate cut
RBI?s firefighting on liquidity would serve the purpose of increased lending (?Liquid intentions?, Oct 16). But, as has been argued, an interest rate cut would be the most effective way.
Ranjan Seth Mumbai
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