Thursday, October 23, 2008

I throw an open internet challenge

"A 2006 report of the Swiss Banking Association claims Indians are the biggest depositors of black money in banks located in Switzerland."
Can anyone find this report?

It's getting too much play on the media lately.

Sunday, October 19, 2008

Kuldip Nayar is an idiot.

What is Kuldip Nayar smoking? When a former Indian High Commissioner to the UK and a former Rajya Sabha MP starts writing columns like this, I don't know what to say...

Here's a quote from his column that had my uncle swearing civil war yesterday.

Since Switzerland maintains secret bank accounts, it is not possible for any intelligence agency, however resourceful, to trace the money. The account holders will have to do it themselves provided they feel the pain which their nation is going through. I do not know how much money is hidden by the Pakistanis, Bangladeshis, Nepalese or the Sri Lankans. But the estimate about Indians is around $1.5 trillion (Dh5.5 trillion). Indeed, the figure is mind-boggling.

In the 2006 report on black money in Swiss banks, the Swiss Banking Association has put the deposits of five top countries as: India, the highest, with $1.456 trillion, Russia $470 billion, Britain $390 billion, Ukraine $100 billion and China $96 billion. If India's deposits were to be distributed, 450 million people would get Rs100,000.

The figure is so mindboggling to think of here that I can't help question the source of this figure. I googled for about half an hour for any verifiable, authoritative source, and I got nothing except half-assed websites with zero reputation, most of whom were regurgitating the same crap that they probably read somewhere else.

Wednesday, October 15, 2008

Matt Taibbi ownage

Haven't seen such ownage in years..

Wednesday, October 08, 2008

Nightmare on Wall Street

Kevin Hassett is senior fellow at the think tank American Enterprise Institute where he directs economic policy studies. He regularly appears on Bloomberg Television. He advised President Bush in his campaign, and he currently serves as a senior economic adviser to the John McCain 2008 presidential campaign.