Comments on: Faux capitalists look for the free lunch http://www.ritholtz.com/blog/2009/09/faux-capitalists-look-for-the-free-lunch/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Tue, 14 Feb 2012 23:28:32 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: deepakshenoy http://www.ritholtz.com/blog/2009/09/faux-capitalists-look-for-the-free-lunch/comment-page-1/#comment-221112 deepakshenoy Thu, 01 Oct 2009 06:44:45 +0000 http://www.ritholtz.com/blog/?p=38586#comment-221112 I'd ordered a copy from Amazon when the book was released. And I've not yet gotten to doing a review, unfortunately; but I think this review was too short. Some of the stuff you mention has weird parallels in India where bank nationalization (not pre-privatization, unfortunately) happened in the early 70s. The result: our political parties now take credit for the disaster that has been bank nationalization in the country, saying "Look, the US is doing it now". And while we haven't fallen prey to rating agency disasters, government bailouts in crises are common here (and rather expected); from farmer loan forgiveness to hiding toxic waste in balance sheets, we've done our bit. But as a reader from India, I must say your book was worth the read. The failure of the credit rating agencies had prompted a change our pension plan investment guidelines to not mandate a rating requirement for corp. bonds. http://blog.investraction.com/2009/02/hail-pension-policy-for-making-rating.html Unfortunately we went back to having the rating requirement partially back.http://blog.investraction.com/2009/02/hail-pension-policy-for-making-rating.html . There are too many vested interests. I’d ordered a copy from Amazon when the book was released. And I’ve not yet gotten to doing a review, unfortunately; but I think this review was too short.

Some of the stuff you mention has weird parallels in India where bank nationalization (not pre-privatization, unfortunately) happened in the early 70s. The result: our political parties now take credit for the disaster that has been bank nationalization in the country, saying “Look, the US is doing it now”. And while we haven’t fallen prey to rating agency disasters, government bailouts in crises are common here (and rather expected); from farmer loan forgiveness to hiding toxic waste in balance sheets, we’ve done our bit.

But as a reader from India, I must say your book was worth the read. The failure of the credit rating agencies had prompted a change our pension plan investment guidelines to not mandate a rating requirement for corp. bonds. http://blog.investraction.com/2009/02/hail-pension-policy-for-making-rating.html

Unfortunately we went back to having the rating requirement partially back.http://blog.investraction.com/2009/02/hail-pension-policy-for-making-rating.html . There are too many vested interests.

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