Learn from history, don't repeat it
"The man who has done his level best... is a success, even though the world may write him down a failure." —B. C. Forbes (Scottish Journalist, 1880-1954) Word for the day Consent (v) To permit, approve, or agree. First thought this morning The salvaging of erstwhile Satyam Computer is a classical case study in successful government intervention in corporate affairs. The intervention was swift, bold and effective. The troubled company was not only salvaged, its future growth was also ensured. Jobs of all 50 thousands employees were saved. US government has also been doing similar interventions. More particularly, in the wake of global financial crisis, US administration acted swiftly and salvaged some large corporations like Merril Lynch, General Electric, General Motors, AIG, CITI, Fannie Mae, Freddie Mac savings a large number of jobs and resources. In hindsight, most of the companies bailed out under US TARP prog...