The Rescue Operation

With the whole world being dicey about investing in financial markets owing to crisis at the Wall Street, there is one man who can make all the difference and he is Mr. Warren Buffet. He is a man who has the reputation of turning the tables at any point of time. His investment of $5 Billion in Goldman Sachs has provided the much needed support for he financial markets to stabilize. Rated as the undisputed number-one investor, he is likely to be the opinion leader for rest of the world to follow and the trust in the markets will be revived. It is not only going to benefit Goldman but the entire financial community with the revival of trust of the so-called common investors. What the proposed Federal bailout of $700 billion might not do, can be done by $5 billion of the 'Omaha Oracle'. So it is not only the amount but the source of the amount that can make the difference and if the source is the top-shot Mr. Buffet unexpected is bound to happen.

Lehman-A shock for even a layman

Lehman Brothers has become the buzzword these days. The shocks of the crises of one of the largest investment banks are being felt globally. It is just the intensity of the shocks that can vary across organisations and across countries depending on their exposure to the big daddy. You name any problem or tension these days, whether it be fall in share markets or volatility in currency exchange rates and even B-School placements, the cause is being related to Lehman. The reason for such an impact is not only the direct exposure to Lehman but also the indirect linkages associated with it. The buying of Merill Lynch by BOA has to some extent saved the world from further dire consequences. Now all eyes are on the fate of American International Group (AIG) as it is also sailing in a similar sinking boat as Lehman was sailing which led to its eventual bankruptsy.

Judiciary under Scanner

After 'Independence of Judiciary' and 'Judicial Activism', the buzzword has changed to 'Judiciary under scanner' or 'Judicial Impeachment'. The most respected institution in the country is under threat these days with allegations of corruption being levelled against the Judges. The proceedings of impeachment against a High Court Judge came as a shock in the legal fraternity. Such proceedings are launched very rarely and has been only the second time in the history of Independent India. The weed of corruption has not even left the Judiciary which is characterised as being unbiased and neutral. The Chief Justice is actively trying to remove this weed by taking all possible steps to curb corruption at various level of Judiciary. Granting permission to CBI, for inquiry involving two judges of Punjab & Haryana High Court, is an example of his pro-activeness. If such instances continue over a period of time, the whole institution of judiciary with come under threat of loosing the respect of the general public. However, while taking such steps, a balance has to be maintained so that both the purposes, of curbing corruption as well as protecting the Judiciary from being exploited by the other two organs, viz. executive and legislature, are solved. The mechanisms involved in checking Mal-practices need to be revised and a summary procedure needs to be introduced whereby judicial panels should decide such cases. These panels can consist of Judges of other high courts, retired judges, etc. This procedure can be similar to the cort-martial proceedings in the army which is totally internal . It will protect the Judicial institution as a whole and also keep a check on the judges. Despite having the chances of being called the court of the courts, such a system can be very efficient.

123 India go

The waiver given by the Nuclear Supplier Group (NSG) is indeed a landmark decision breaking the conventions. As discussed in my previous blog, India's statements were to make a lot of difference and it happened so with Austria stating that the last day statements issued by Delhi were decisive enough for it to support the waiver. The impact, that such statements can have, is more than one can imagine.

Now that the waiver has been granted, India is all set to emerge as a major player in Global Nuclear trade after the US Congress gives its assent. However, it remains to be seen that which of the NSG nations actually come forward to trade with India as there may be some nations who did'nt oppose the waiver of not signing he NPT or CTBT but may have their own resevations in actually trade with India.

Crossing Nuclear Hurdles

After having passed many obstructions and being in the news for a long time, the Indian nuclear ship is still not having a smooth sail. With countries like Austria, Ireland, etc. standing in the way it is doubtful that it will reach the shore comfortably.
Having parted with its old allies and joining new ones, the Government has to be very careful in maintaining a balance between its domestic and International positions. With many of NSGs demanding amendments and the fears of opposition, each statement by New Delhi is being carefully observed. Till now, India has taken the right approach of maintaining its stand of not signing any NPT on one hand and issuing statements of being a peace-lover on the other. It has highlighted its policy of not being the first to use weapons. The extent to which we are able to convince the world of our policies and also the benefits of prospective nuclear trade to NSGs, will determine the support provided to India.....