Fair enough. I forgot to congratulate you on a well-written article before going on a marathon of a post lol

I would say it would be fair to spend tax money on rescuing a few banks if that means the economy and ultimately the customers will benefit from it. But of course, there is an ethical issue, why should taxpayers’ money go towards helping some corporate money machine which has collapsed due to its own greed? I think, it’s in the interest of everybody that the economy runs smoothly… But I still think the banks are to blame for this as well as the government for not implementing tighter regulations and not heeding the advices of people like Warren Buffett when they were predicting this crisis.

I think the only thing we can do now would be to ensure we don’t have another credit squeeze. Now we know what can cause it and what can prevent it from happening.

heads up hans

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You brought a good argument there. But what I wanted to point out in this article is that is it fair to tax consumers at the expenses of some greedy entrepreneur?

Other than that, I will have to agree with you that it was because of the free market ideology of America that they are facing such a situation today.

I hope that they would learn from their mistakes!

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It’s very easy to blame one or two parties and see customers as the eternal victims. It’s not always the case. We all work in a closed unit. Banks need us as much as we need them. The economy and the govt needs them as much as the banks need them. We could go on about this. Rest assured, the financial world and world govts have enough resources to cope with anything these days. The only thing which could let us down is the selfish motives of certain people in power.

So if anyone have any question!

So go go go!

Also my points are proven by facts. Mainly about the effects of the credit crunch in Mauritius. We have already noted a small fall in the arrivals of tourists in Mauritius.

Now looking at OUR stock exchange that is SEM, all the trends are negative. MCB,MUA and SBM, which are all, companies operating in the finance sector, their trends were decreasing.

I demonstrate this by yet another example:

MCB is a company that does well generally in the stock exchange. But since the start of this year, its share price have decrease from Rs 180 to Rs 157, a drastic fall. The credit crunch did not start this year by the way, it started in late October last year. Now looking at Yesterday’s amount of shares that were sold, Guess it?

17,175 shares of Rs 2,643,940! :O

I hope our Doctor R.Sithanen treat this patient fast and real fast!

To more serious things, rather than the credit crunch, it’s recession (whatever that may mean!??) that is hitting the US economy (& to some extent the global economy).

As for tourist industry being affected, Mauritius should not be severely affected, if the MTPA decides to act, by promoting Mauritius in countries like India, China or Australia.

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