Again on the topic of hypocracy. US President George W Bush is exhorting all nations at the UN to fight terrorism tooth and nail. two facets of hypocracy:
1. Bush was almost closing down UN a few years back by not releasing funds but now waxing eloquent on the efficacy of UN because Russia is challenging him
2. Terrorism of the Al Quaida kinds was promoted by US and now that it is hitting back like the Bhasmasura in Hindu Mythology or the demon in Dr Faust story, he wants others to fight terrorism. While India is bleeding for decades because of Pak terrorists, US was turning a hostile face and pumping more and more weapons into Pak. Now its own F16s are arraigned against its forces on the Afghan border.
Hypocracy 2: SEC Chairman, Treasury Secretary and FED RESERVE Chief are all vouching before the senate committee that the tax payer is hooked and they want to do something to stop the banking system to collapse. And when the banks were going to the edge by floating so many 'innovative instruments', where were these people. Turning a blind eye and allowing the shareholders and the executives to profiteer? Why don't they adopt the successful Swedish model adopted 17 years ago in the same situation where the government acquired the assets of these banks at a discount thereby penalising the shareholders rather than the tax payer?
Indian bureacrats and the Reserve Bank officials must be having a chuckle because their control over the finance institutions was frowned by the same people as too much of control. Now they are nationalising these banks and controlling them, a model adopted by India as far back as 1969. Social control of banks was legitimised then itself. Is anybody in the west learning?
Bush started with a disaster - 9/11 and he is ending with a disaster - financial system collapse. And to think that Americans reelected him resoundingly?????
God save the US - let good senses prevail and let them elect a good President.