And the winner is... Tech Mahindra! Good job Govt of India! There are are purists that say that govt. should not meddle with business of business. Yet, I could not think of a more expeditious way of handling satyam sell off.
I think responsible governance means knowing when to step in and when to step out. A few months back I read an article in NY times about YV Reddy, our ex- RBI Gov. The columnist went on extolling his work in keeping a check on the banks and regulating their investments in the realty sector. YV Reddy, tried the best he could to rein in the real estate bubble. He disallowed ECB, asked banks to raise risk weighting for real estate investments, limited the exposure banks could have to real estate and raised interest rates. Not that it completely deflated the housing bubble, but it did help in moderating it.
Regulation could be good and bad. Only history can tell if the decisions taken today had the desired results. Obama is making some very bold moves. These could help restore confidence in the US financial sector and US economy in general or plunge it into the abyss of debt for generations. Is he doing the right thing? Lets wait a few years till History Channel brings back the Credit Crisis of 2008 to your idiot box on prime time.
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