Saturday, November 7, 2009

Loan write offs, ARC's and other scams

Some mild thoughts on the Indian businessman and the farmers, who rip the system and have perfected the art of paratism.
The PSU banks are notorious for forgiveness. And the retired bank Chairmen end up with plum pickings.
The banks who forgive, do not even ask for something when the borrower becomes hale and healthy again and is rolling in the dough.
Businessmen and politicians have a ball with the stamp of legality given to this scam through creation of ARC's and the notorious thing called CDR.

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