GiveIndia is a donation platform to support a cause from over 200 NGOs...It has been formed in 1999 by Venkat Krishnan who is an IIM-A Graduate.
Thousands of donors have contributed so far to over a million lives by supporting these over 200 NGOs...
GiveIndia has tied up with a number of corporates where a number of employees give up a part of their salaries directly...The contributors have the option to choose the specific NGOs where they wish to contribute their donations...
The website for GiveIndia
http://www.giveindia.org
Thursday, May 26, 2011
Thursday, May 5, 2011
Credit Rating Agencies - A Farce??
When we look to make for investments, what are the things we analyse and keep in mind before taking any decisions??? Return...Time Period...and most importantly creditability!!!
How do we know the creditability of the instruments we are trying to invest in? Most of the time we are generally aware of some of them as the underlying entity or the reference entity is well known, has a public image and is probably a large corporate with strong financials. But what do we do in case we don't know the details so well??
We fall back on the judgement of institutions called Credit Rating Agencies. Some of the largest agencies are Standard's & Poor's, Moody's and Fitch. If they rate some financial instruments strong, we think of investing in them or otherwise we don't.
The question is how credible is the ratings of these agencies. Can we really rely on them? Here are a few examples I would like to site -
1) The CDOs issued by institutions in USA against sub-prime loans - Most of the loans which went bad, were given some of the top ratings by credit rating agencies just a few days before they went bad!!
2) Lehman Brothers, AIG, Freddie Mac & Frannie Mae, Merrill Lynch - These companies either went bust or were on the verge of bankruptcy or required financial bailout. However, just a few days before these events took place, their credit ratings were quite strong and high.
3) USA, GREECE, IRELAND - When recession hit, USA, Greece, Ireland, Britain, Germany, Japan, Spain, etc. were some of the countries which were impacted the most. Yet before the situation of these countries were made public, their ratings remained the same and decently good since a long time. But when the exact situations were made public, the ratings of some of them were changed. Greece for example needed bailout. While the rating of the country was changed only after the news of bailout came.
So why do we need credit rating agencies if their ratings cannot be relied upon. Even a common individual with no knowledge of business and finance would be able to lower the creditability of a corporate or a country after knowing that they require bailout.
So, do these agencies have any liability or do they have to answer these questions??
The answer is no. These agencies have no liability, no obligation, etc. even if their ratings are wrong and cannot be relied upon!!
I guess its time to question the creditability of these Credit rating Agencies themselves to find out the truth. But, interestingly it would be difficult to establish the creditability of the people/firms trying to find out!!!
A VICIOUS CIRCLE OF MISTRUST!!!
How do we know the creditability of the instruments we are trying to invest in? Most of the time we are generally aware of some of them as the underlying entity or the reference entity is well known, has a public image and is probably a large corporate with strong financials. But what do we do in case we don't know the details so well??
We fall back on the judgement of institutions called Credit Rating Agencies. Some of the largest agencies are Standard's & Poor's, Moody's and Fitch. If they rate some financial instruments strong, we think of investing in them or otherwise we don't.
The question is how credible is the ratings of these agencies. Can we really rely on them? Here are a few examples I would like to site -
1) The CDOs issued by institutions in USA against sub-prime loans - Most of the loans which went bad, were given some of the top ratings by credit rating agencies just a few days before they went bad!!
2) Lehman Brothers, AIG, Freddie Mac & Frannie Mae, Merrill Lynch - These companies either went bust or were on the verge of bankruptcy or required financial bailout. However, just a few days before these events took place, their credit ratings were quite strong and high.
3) USA, GREECE, IRELAND - When recession hit, USA, Greece, Ireland, Britain, Germany, Japan, Spain, etc. were some of the countries which were impacted the most. Yet before the situation of these countries were made public, their ratings remained the same and decently good since a long time. But when the exact situations were made public, the ratings of some of them were changed. Greece for example needed bailout. While the rating of the country was changed only after the news of bailout came.
So why do we need credit rating agencies if their ratings cannot be relied upon. Even a common individual with no knowledge of business and finance would be able to lower the creditability of a corporate or a country after knowing that they require bailout.
So, do these agencies have any liability or do they have to answer these questions??
The answer is no. These agencies have no liability, no obligation, etc. even if their ratings are wrong and cannot be relied upon!!
I guess its time to question the creditability of these Credit rating Agencies themselves to find out the truth. But, interestingly it would be difficult to establish the creditability of the people/firms trying to find out!!!
A VICIOUS CIRCLE OF MISTRUST!!!
Tuesday, May 3, 2011
Debate - 1st man to conquer EVEREST - George Mallory!!
George Mallory is considered by some to be the first man to conquer the Mt. Everest in 1924. However debate continues!!
George Mallory's body was found in 1999 on Mt. Everest - a few 100 feet from the peak. Some claim that he had reached the peak and had died on the way back while some say he had died on his way to the top!! It is said that he was carrying a picture of his wife with him which he wanted to laceon the peak of the mountain. When his body was found the picture was missing, while all other equipments were in place!! Which suggests that he had reached the peak!
Andrew Irvine, his climbing partner too was found dead a few feet away from George. However, the only thing missing from those spots was the CAMERA!!! So, the proof of them reaching the top wasn't there!!
Edmund Hillary was therefore the first man to conquer everest with proof in 1954!!
I just hope that the truth is revealed...If George Mallory was the first man...then he should be recognised to be the one!! I just hope that the Camera is found!! Search though is still on!
Till then its difficult to decide whether his name should be added to the list of legends or not...because if it is added...another shall have to be removed!!
George Mallory's body was found in 1999 on Mt. Everest - a few 100 feet from the peak. Some claim that he had reached the peak and had died on the way back while some say he had died on his way to the top!! It is said that he was carrying a picture of his wife with him which he wanted to laceon the peak of the mountain. When his body was found the picture was missing, while all other equipments were in place!! Which suggests that he had reached the peak!
Andrew Irvine, his climbing partner too was found dead a few feet away from George. However, the only thing missing from those spots was the CAMERA!!! So, the proof of them reaching the top wasn't there!!
Edmund Hillary was therefore the first man to conquer everest with proof in 1954!!
I just hope that the truth is revealed...If George Mallory was the first man...then he should be recognised to be the one!! I just hope that the Camera is found!! Search though is still on!
Till then its difficult to decide whether his name should be added to the list of legends or not...because if it is added...another shall have to be removed!!
OSAMA BIN LADEN KILLED
Yesterday Osama Bin Laden has been killed by the CIA in Pakistan. Good news undoubtedly....However a number of questions arise!!
1) How did they enter Pakistani territory and conducted this huge operation without the knowledge of the Pakistani Government?
2) Is the Pakistani Government providing refugee to terrorists?
3) Will the Pakistani Government now take action against terrorism?
4) Will there be a backlash from the terrorist groups towards USA and other cuntries?
These are some intriguing questions which only time can answer. Meanwhile, the Pakistan Government is embarrased and they need to provide a number of answers. It is high time that other nations support India's cause and pressurise Pakistan to initiate serious actions against terrorists in their nations!!
1) How did they enter Pakistani territory and conducted this huge operation without the knowledge of the Pakistani Government?
2) Is the Pakistani Government providing refugee to terrorists?
3) Will the Pakistani Government now take action against terrorism?
4) Will there be a backlash from the terrorist groups towards USA and other cuntries?
These are some intriguing questions which only time can answer. Meanwhile, the Pakistan Government is embarrased and they need to provide a number of answers. It is high time that other nations support India's cause and pressurise Pakistan to initiate serious actions against terrorists in their nations!!
West Bengal Elections
This could be considered as the most debated elections across the nation!!
The Left havent done much in the past 35 years of ruling...Ofcourse change is required...However, I am disappointed to say that the only other dominant party in the state isn't a desired change...So on the one hand its the Devil himself and on the other a never ending ditch!!
Ofcourse a change is expected and the time seems to have changed in favour of the TMC...we the people on the other hand can merely hope and keep our fingers crossed that it brings about a positive impact on the backward moving Bengal economy!!
The Left havent done much in the past 35 years of ruling...Ofcourse change is required...However, I am disappointed to say that the only other dominant party in the state isn't a desired change...So on the one hand its the Devil himself and on the other a never ending ditch!!
Ofcourse a change is expected and the time seems to have changed in favour of the TMC...we the people on the other hand can merely hope and keep our fingers crossed that it brings about a positive impact on the backward moving Bengal economy!!
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