Its been one hell of a weekend. Manmade calamity stuck the world at different hours!!
- Indian Mujahideen strikes again, this time attacking our national capital, Delhi at some of the most crowded areas like Connaught Place, Karol Baugh, Sarojini Nagar. The bombs were placed in autorickshaws and dustbins!!! 😡
- Lehman Brothers is filing for bankruptcy tonight! This means around 13000 investment bankers hit the road today!
- Bank of America saved Merrill Lynch from a similar fiasco. What will happen to around 60000 employees of ML remains to be seen.
- Washington Mutual and AIG may be in line.
- Wipro, Satyam, Vertex and Virtusa sack people!
What else can go wrong???
Cant help but post a very rhetorical statement made by Noobie today:
By tomorrow, everything will calm down (until AIG also goes down) and then after a month, very few people will know about Lehman… After about 1-2 years, very few people will know the names of Lehman and ML… After about 10 years, case studies will be written on this and while studying them students will have foolishly arrogant smiles on their faces claiming “What idiots were those CEOs!? They brought down the company. They couldnt even see this much… cheeee!!! Had we been there, we would have done this… we would have done that…”
No wonder… One decade’s wisdom is another decade’s knowledge!!!