A load of crap from an idle brain

Over the weekend watched a movie, “Inside Job“.  A movie that tracks the collapse of the Wall Street in 2008 which caused the worldwide recession from which the world is yet to recover.  It tracks and interviews many of those responsible for the financial crash.  Many financial behemoths like Bear Stearns, Lehman Brothers collapsed.  Many were taken over by other financial firms like Merrill Lynch bought over by Bank of America, Wachovia by Wells Fargo, Bear Stearns by JP Morgan etc.

The whole collapse was fueled by the excesses of the financial institutions and the professionals who were a part of them.  Technology ensured that that complex financial products like CDOs were sold to institutions, retail investors.  People with no jobs were given loans to buy property, excessive salaries for brokers, heads of major financial companies only made them greedier leading to more and more desperation in inflating sales so that they could take a bigger and fatter pay packet at the end of the month.

Prostitution, fake bills, consuming cocaine and other forms of drugs, splurging on luxury goods, bay-front properties, casinos etc was the order of the day for the bankers, brokers employed in these institutions on Wall Street.

According to this list provided by the Federal Deposit Insurance Corporation, more than 370 banks have closed down since the beginning of 2008. An estimated $14 trillion was lost because of the crisis.  And that is just a lower estimate.  The true cost of the whole crisis might never be known.  Millions of jobs lost, tens of millions of people pushed back into poverty.

All those responsible for the crime were never brought to justice, nor will they ever be. Some of the ones who violently opposed any form regulation of the financial industry which was the basic cause of this financial crisis are now sitting comfortably in the seats of power.  They are today part of the government.  Alan Greenspan, Ben Bernanke, Timothy Geithner; everyone contributed their part to the crisis not to mention Dick Fuld (Lehman Brothers), Angelo Mozelo (Countrywide Finance), Hank Paulson (Goldman Sachs & Treasury Secretary in 2006), George Bush, Bill Clinton etc were in some way or the other responsible for the mess we find the world in.

During the boom years of the 2000s, there were lots of people hectoring the Reserve Bank of India (RBI) for taking a conservative stance and blaming the RBI for not opening up the financial markets to the so-called reform that the US was doing. Its that same conservatism that shielded India and its banks from getting smashed up by the tsunami created in the US and world financial markets.

For years, the Wall Street had been my dream place to work.  I loved the whole idea of minting money the way the bankers made.  From the late 90s till the collapse in 2008, i had a rosy idea of these places. In fact, my dream job would have been working with Lehman Brothers, Merrill Lynch etc.  As i kept reading about the collapse in 2008 and the circumstances that lead to it, it not only crumbled my dreams but also made me think if i could have handled such a life of debauchery & lies that were commonplace in this industry.

Would i be able to mis-sell a product to a retail investor and then go home and sleep peacefully?  The movie raises a lot of questions about morality and your job.  For every parent who wanted their kids to join the financial industry and make tons of money, this movie is an eye opener.  Money is there in abundance, but what we need to realise is if there is the moral compass that can guide us when the excess money flows in.

Are you an investor in real estate, stocks, bonds, mutual funds etc?  Are you planning to make a career in the financial industry?  Do you know someone who works there?  This movie is a must watch and the book “The end of Wall Street” is a must read.  Roger Lowenstein writes a blow by blow account of the last few days of the collapse of the Wall Street.  Its a riveting read.

And yes, if this doesn’t outrage you, nothing will.  Because in the world of finance, there is something called TBTF (Too Big to Fail).  Just become big by hook or by crook and then the government will ensure that you will never fail.  They will always bail you out no matter how big an asshole you have been.

“If you owe the bank $100 that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.” – J Paul Getty

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From Fullhydblogs to Rediffblogs to WordPress to my own hosted domain here, its been 7 years of blogging. From 2-3 posts per week to one post in 2-3 weeks, the speed of blogging has surely gone down, but the interest hasnt waned. With Facebook, twitter and so many books and other sites fighting for attention, i have been guilty of neglecting attention to this site a bit.

Not that many people visit this site. Hardly gets around 100 hits a day unless some troll decides to brighten up an otherwise dull day. When i was with WordPress, the blog used to have thousands of hits daily. Not to mention that i used to blog much more regularly out there.

With the amount of work, i hardly have time to catch up with friends. Blogging has sort of taken a secondary interest in life. But i still cant believe that i could sustain interest for over 7 years. Meanwhile have finished reading some good books. Most of my updates on the blog have been on the Movies and Reading pages. They are the only ones getting updated constantly. Read a book on Cleopatra by Stacy Schiff. Being a history buff, i liked the book. Wish i could find some movie or documentary on the same.

Also finally finished reading “The Warren Buffett Way” which i had been reading on and off while simultaneously reading other books. The other one is the unofficial Dhirubhai Ambani biography “The Polyester Prince” which also have been reading in fits and starts. The only way i seem to be able to finish a book faster is by listening to audio books. E-books and physical books seem to be taking months for me to finish. Its precisely why i have no interest of going in for an iPad or a Kindle. I think i will stick to audio book readers till the time i can improve my reading speed.

Still, have managed to finish about 19 books in the first 6 months of the year which i believe is pretty good enough. The target was to read a book a month. I have far exceeded that target. The next book that iam excited about reading is “Why Men Hate Going To Church – David Murrow“. The title of the book so defines me. My parents tried for more than 30 years and my wife has been trying for the past 3 years. I still cant bring myself to voluntarily go to church on a sunday. Not do do anything with my beliefs. I do pray regularly, but church is one thing that has been unable to keep me hooked. Maybe this book will give me some pointers on this issue.

Have watched some good (Hanna, X-Men, Millenium trilogy of Stieg Larsson) and lots of not so good movies over the past few months. Pyaar Ka Punchnaama as well as Shaitan were good too. As for telugu movies, the lesser said the better.

Time flies. We are almost into the 2nd half of the year. Time for me to take stock of the situation and make some hard choices. Do i still want to continue with what i have been doing all along or take the plunge into the unknown? Maybe the coming few months will give me the answer. Meanwhile what i need desperately is a holiday.

Above picture courtesy: Lifeconnectionchurch

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The Diwali weekend was spent lazing around at home and watching movies.  Caught up on all the ones i had missed.  Inception was really exceptional both concept wise and in the way the director Christopher Nolan shot it.  Was amazed at the way he was able to narrate the movie.

Having read so much about the movie, i thought i would be lost and the movie would be confusing.  But i found it quite engaging and entertaining.  The way the movie races through the different countries, the whole concept of getting into someone’s dreams to steal information or to plant them.  Man, where do they get all these ideas from? 

Avatar on the other hand transfixed me visually.  Its stunning.  No other word comes close.  But nothing great actually when it comes to either acting or the script.  Visually the movie is in its own class and will take a long time for any other director to match it.  Now, James Cameron has announced 2 more sequels to the movie in the years ahead.  Looking at all he has done in this one, the expectations are already quite high.

The Expendables was the usual 80s Rambo kinda movies that Stallone was so good at.  Explosions, bodies getting ripped off, the heroes going to the villain’s den and blowing up the whole place, a sexy woman who is rescued by the hero just as she is about to be raped.  Would have loved to see Arnie and Bruce Willis get their hands dirty though.

Machete was similar to the Expendables.  Mindless action with lots of gore attached.  Its rare to see Steven Seagal and Robert de Nero in the same movie. But was fun.  Another mindless action flick.

Having read so much about the financial meltdown in the US and with so much interest in finance & investing, this movie was a must watch for me for quite some time.  The movie did drag a bit, nevertheless i found it engaging.  Now, it has motivated me to go search for the original that released some 20 odd years ago.

All pictures above courtesy: IMDB

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[youtube=http://youtube.com/watch?v=bTlgGBn7iT4&feature=related]

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You’ve seen bike races, car races and heck even humans racing in movies. For the first time, there is a movie where the characters believe in having autorickshaw races to settle scores.

With characters who have names like Bigle, Son of Gun and Rani @ Biryani, Oram Po is a hell of a ride. Though its a done to earth plot, the whole movie is weaved around autos and every character has a funny way of talking. Look out for the guy (John Vijay) who plays the character “Son of Gun” and his hillarious dialogue delivery.

[youtube=http://youtube.com/watch?v=Zgiz4bZI0Zg]

The movie is directed by the husband-wife duo of Pushkar & Gayathri. As for the actress Pooja, well she is yum yum too. Just like the biryani she serves in the movie. Special mention to the cinematographer of the movie ‘Nirav Shah’ who also shot the monster hindi hits Dhoom and Dhoom2.

My rating *** (3/5)

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