We can Do without DOW if we have to Cow or Bow !…. Hope Our Indian Government is not a Front for it’s Top Private Corporates like clearly the US Government is !…Dow Chemicals getting the US Govt to arm twist India !

Moralities and Ethics….Just Words……Sad

Another Instance breaking out on Times Now….. this time it concerns how the Deputy NSA of USA, Michael B Froman, openly and quite bluntly telling Montek Singh Ahluwalia of our Planning Commission, in an email reply, to monitor and control Dow Chemicals Growing Noise in India regarding the Bhopal Gas Tragedy of 1984… this was in response to a request email by Ahluwalia to Froman to help at the World Bank Meeting to get IBRD to extend Borrowing limits for India 

What a Quid Pro Quo !…. Linking Commercial Interests to a Human Tragedy !

While this tactic is nothing new from USA, it was shocking to hear Ahluwalia on TV refusing to even acknowledge this demand by Froman in his email reply !… he was being hounded by a Times Now Reporter and moved away saying “Where’s the Tea ‘Yaar’ !?” to get away from the Times TV Reporter…. and he shockingly states he cannot remember whether he spoke to Froman or wrote to him !….. today is August 18, 2010…. and this email ‘to and fro’ took place less than three weeks ago on July 30, 2010 !…. he counters” Do you know how many emails I receive !?”…. Sad !

This is another Instance of how the current US Government is a front for top US Corporates, as aptly observed by Sunita Narain, Director, Centre for Science & Environment and a leading voice and activist for getting adequate compensation for the Bhopal Tragedy affected… she is shocked at USA’s Impunity in asking for such a quid pro quo 

Union Carbide was responsible for the Bhopal Gas Tragedy… It was taken over by Dow Chemicals…. Lakhs of people were affected, and 26 years hence many yet are, by the Bhopal Gas Tragedy and have received poor compensation…. Dow Chemicals actually took over Union Carbide’s US Liabilities but says it’s not responsible for any additional Indian Compensation Liability that is being sought… Dow Chemicals has business Interests in India through Technology Transfers and Licensing to Indian Companies for Speciality Chemicals

The US Government is clearly trying to arm twist India…. be it in it’s Pakistan Policy,it’s passing a Bill raising Visa Fees for certain Types of Visas used by Indian IT Companies to depute staff to US Clients… irony is that US Giant IBM is the second biggest private Indian Employer in India,employing 130000 Indians……. or in it’s Double Standards when dealing with the two Big ‘B’s’… British Petroleum and Bhopal !……. President Obama has come down heavily on British Petroleum for the ‘continuing from April’ Oil Leak that is yet affecting USA coastline… he has extracted, to begin with, a compensation of US $ 20 billion from BP… this is just one year’s profit for BP !….. India got just under Rs 500 crs or a little over US $ 100 Million for the Bhopal Tragedy and it was clearly ‘pressurised’ by USA in releasing Union Carbide Chairman, Warren Anderson and letting him fly back to USA!… wonder what quid pro quo was involved for this !…. was an Indian closely connected with the Powers in India and who was to serve a Long sentence,released from US Jail and deported ?… Aha ! read more

Second Budget Reaction at Market closing a few Hours later….Pranab’s Budget has shorted the Market

Pranab’s Union Budget has shorted the Market !

Ironically It’s Reliance Group Founder’s Dhirubhai Ambani’s Death Anniversary today… Arguably the Father of Indian Equity… He was the King in Capital Formation through Equity….. we probably need him to resurrect… to resurrect our Markets !… he build his flagship on scaling up a Domestic Consumption Story… we need to stimulate the same today… his vision, experience, inspiration, motivation, ideas and leadership would have helped…. You can corelate our huge Fiscal Deficit with Dependency on Oil Imports and being victimised by the huge surge in Oil last year to US $ 145/barrel…. Reliance continues to lead the way in the Private Hydrocarbons Sector in building World Class Refineries and Exploration of Oil and Gas…. Clearly it was Dhirubhai’s Vision to help make India a World Class Country and less Dependent on Oil Imports… His guidance in aiding the Government in Capital Formation through Equity would have been invaluable… He would have had the crucial retail Investors support too.

And how in the Hell did Planning Commission’s Montek Singh Ahluwalia keep stating, in the past few days, on the media to millions that the Union Budget will be Popular !

Was he deliberately misleading, like many of our market operators do, or is he as inarticulate as Finance Minister, Pranab Mukherjee !?…. ‘Popular’ Indeed !… Market has Popped !… Sensex has closed down 870 points at 14043, having breached 14000 earlier… It’s down over 1000 points from Intra day Highs of over 15000 just before Pranab began his ‘to be popular’ Budget Speech… Nifty closed at 4166, down 259 points

And come to think of it even our Finance Minister had told us to Wait for the Budget !… and so we waited… and now we’re worried and those who bet long are even wailing !

It’s not just a coincidence I’m wearing ‘Red’ today !… my past blogs would support this T-Shirt colour code for today !… you thought I was wearing a Red Shirt, did you !?

I do hope to wear ‘Green’ soon though !