
The bull was strong and glittering as I approached towards; little did I know fall season will see the biggest fall of some financial conglomerates. It was 2nd week of September, sunny sky, bull was surrounded by visitor all over the world, like me. I was looking for direction in WTC station and asked an officer how to reach the freedom monument (Statue of Liberty). The officer replied “ Sir , would you mind walking for another 10min or so ?” , I answered , “ Not a Problem”, And the direction comes , Go straight , take right and walk down till you see the bull …, the bull !! Caught my mind and I was wondering how it looks like.
The recent financial crisis is not a new thing to me. Seeing BSE index falling from 20k to 13k, I am pretty much familiar of the devastating nature of this, losing money like othes. But the bull, gives me hope by his grit and I was hoping he will fight back hard, keeping our hopes alive.
A week later on Monday, 16th Sep, series of new developments happen in the existing credit crisis market. Wall Street major Lehman Brothers, an innovator in global finance for 158 years filed for Bankruptcy and Merrill Lynch finds survivor in Bank of America. AIG gets fed as its survivor and Morgan Stanley looking for options, the list goes on... This developments causes direct effect with other financial market over the world and inside US, the working people know how much their 401k went haywire. And looks like all things started with one aim to make money somehow and doing so our innovator investment bankers was failed to judge between good and bad. My little knowledge on financial market does not have better words than this.
16th Sep week will be forever in the financial history, the crisis how it evolved and destroyed some of the big names in Wall Street.
Fight back ..Mr Bull ..fight back ..
More about the charging Bull can be found
here