Three of America’s top five investment banks have disappeared over the past six months, two of them last weekend. Bear Stearns went last March. Now, Lehman Brothers and Merrill Lynch have followed.
India’s outsourcing story has become the unintended victim of the collapse of these most venerable Wall Street firms since the subprime crisis began to unravel.
Financing costs have risen sharply and some of the banks, even Indian banks, have gone back on financing deals.
Investment bankers who could until a year ago choose their jobs are now being rendered unemployed.
It’s not just investment banks alone who are feeling the pain. On the back of the subprime crisis, a credit scare has turned lenders extremely risk-averse and financing has become a serious issue.
Indian corporates are getting ready for either shelving projects or delaying implementation.
What would happen to the Indian employees of the blue chip investment banks who have been the first casualties of the collapse?
Do you agree that the best way to survive this crisis is to stay focused on the fundamentals?
Do you think this is the high time we say Goodbye to the so called Globalization?
India’s outsourcing story has become the unintended victim of the collapse of these most venerable Wall Street firms since the subprime crisis began to unravel.
Financing costs have risen sharply and some of the banks, even Indian banks, have gone back on financing deals.
Investment bankers who could until a year ago choose their jobs are now being rendered unemployed.
It’s not just investment banks alone who are feeling the pain. On the back of the subprime crisis, a credit scare has turned lenders extremely risk-averse and financing has become a serious issue.
Indian corporates are getting ready for either shelving projects or delaying implementation.
What would happen to the Indian employees of the blue chip investment banks who have been the first casualties of the collapse?
Do you agree that the best way to survive this crisis is to stay focused on the fundamentals?
Do you think this is the high time we say Goodbye to the so called Globalization?
on September 18, 2008, 4:05 pm
And yes no need to say goodbye to globalisation.
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