tag:blogger.com,1999:blog-4328565848141654156.post7897143320099366771..comments2024-03-15T09:16:52.890+05:30Comments on Seema Sapra - General Electric corruption whistle-blower: the Truth prevails : Why Raghuram Rajan should not have been appointed Governor of the Reserve Bank of India Seema Saprahttp://www.blogger.com/profile/07094308832539462568noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-4328565848141654156.post-51997074387041370352014-09-12T13:54:25.588+05:302014-09-12T13:54:25.588+05:30Your apprehensions seem to be valid and Rajan may ...Your apprehensions seem to be valid and Rajan may be serving a hidden US agenda in India. <br />However, I have been following him for the past year. None of his policies seem to be US driven. He has focussed on curbing inflation in the country, dealing with depreciating currency, and has regulated the financial markets. If he would be serving the US, then he would have surely deregulated financial markets to allow higher access to US investment banks and business entities. Still your doubts are valid and it is too early to predict his allegiance. We may have to look at his future policies, but currently he seems to be an INDIAN.<br />As for the rift with the Modi government, it is fundamental economic problem of balance between growth and inflation. Rajan has to raise rates to check inflation, and BJP government is pro-growth. BJP fought the elections on the promise of boosting growth in the country. So they have problems with Rajan, who is more focussed on inflation rather than growth. The problem between them is due to BJP's political commitment and not due to Rajan's nationality. Both the issues are completely separate.<br />As for Rajan’s qualifications. He may not be the best qualified for the job but he is the best suited. First he is an Indian (he hasn’t proven otherwise yet). Second, he has the guts to implement bold radical decisions. You do not want a central banker who is afraid of imposing necessary regulations. He is not afraid to speak his mind (evident when he predicted subprime crisis before world bankers) and can take harsh decisions.<br />Finally, I would say that you do not need an Indian to do the job, you need an economist. Carney is doing a fine job in the UK. Even if Rajan has US citizenship, but is able to solve India’s economic problems, then we should not have any problems. <br />vattyhttps://www.blogger.com/profile/17616716368777123473noreply@blogger.comtag:blogger.com,1999:blog-4328565848141654156.post-80528820940906272382014-04-21T20:20:05.920+05:302014-04-21T20:20:05.920+05:30The people mentioned in this article (Swamy, Goyal...The people mentioned in this article (Swamy, Goyal etc.) don't seem to be giving any reason. Anyway, I personally think this issue is a waste of time. I am pretty sure people must have checked his passport that he is an Indian. We are wasting our time and should move on to more important things in life. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4328565848141654156.post-63422395336374808732014-04-14T15:44:13.258+05:302014-04-14T15:44:13.258+05:30Not everyone thinks Ragjuram Rajan is the right fi...Not everyone thinks Ragjuram Rajan is the right fit to be RBI Governor - <br /><br />Read http://www.ndtv.com/elections/article/election-2014/raghuram-rajan-rejects-reports-of-tension-with-narendra-modi-led-bjp-507066<br /><br />Raghuram Rajan rejects reports of tension with Narendra Modi-led BJP<br /><br /><br />Edited by Surabhi Malik (With inputs from Reuters) | Updated: April 11, 2014 13:22 IST<br />Washington: Raghuram Rajan, Reserve Bank of India Governor, has dismissed as speculation reports of tension between him and the Narendra Modi-led BJP, seen as the front-runner to form government after the general elections now being held. <br /><br />Dr Rajan, brought in last September amid much hype to stem inflation and the spiral-down of the Indian rupee, credited the economy's turnaround in the last few months to Finance Minister P Chidambaram. "The success belongs entirely to the Finance Minister and not to the Reserve Bank of India...... we work together and I think one of the benefits is that there is a greater sense of comfort on fiscal consolidation," he said on stage at a high-profile event at the Brookings Institute in Washington.(Watch Video)<br /> <br />That close association that he has shared with Mr Chidambaram and criticism for Dr Rajan's strategy on inflation from some members of the BJP has led to speculation on the future of his tenure should Mr Modi's party form government at the Centre next month. (India Votes 2014: Full coverage)<br /><br />"I haven't had any discussion with the new government. I think this is all press invented differences and I think it should be seen as such speculation rather than any actual differences," Dr Rajan said. <br /> <br />Reuters had reported last week that strategists in the BJP suggest they would prefer to have one of their own at the helm of the RBI if they form government. (Post-election showdown looms for RBI Governor Raghuram Rajan)<br /><br />BJP treasurer Piyush Goyal has attacked Rajan over a series of interest rate hikes intended to curb inflation, now running at double the RBI's longer-term 4 percent target, at a time when economic growth has fallen to its slowest in a decade.<br /> <br />Dr Rajan has raised the repo policy rate three times by a total of 75 basis points to 8 percent.<br /><br />"Governor Rajan is only aggravating the problems and making them worse by increasing interest rates," Mr Goyal, a leading strategist and fundraiser for the BJP, told the Economic Times.<br /> <br />Subramanian Swamy, a BJP ideologue and former cabinet minister, put it more bluntly. "We can make it worthwhile for him to leave," he told Reuters.<br /> <br />Dr Rajan, a former International Monetary Fund chief economist is widely viewed as India's most capable technocrat, winning the respect of investors for his handling of the currency crisis that hit Asia's third-largest economy last year.<br /> <br />"It will be a big loss of face for the country and would create a negative perception among foreign investors if the BJP removes the governor immediately after forming the government," said A Prasanna, an economist at ICICI Securities Primary Dealership Ltd in Mumbai.<br /> <br />Before moving to the RBI, Dr Rajan, 51, served as chief economic adviser to the Finance Ministry under the Congress party-led government<br /> <br />"I would not be surprised if a government led by Narendra Modi removes the governor," said Satish Misra, an analyst at the Observer Research Foundation, a Delhi-based think-tank. "Modi does not brook any opposition."<br /> <br />"It would not be easy to remove Rajan from a constitutional post," said a senior Finance Ministry official, who spoke on condition of anonymity. "It would lead to turmoil in the markets," he said.<br /><br />Seema Saprahttps://www.blogger.com/profile/07094308832539462568noreply@blogger.comtag:blogger.com,1999:blog-4328565848141654156.post-61790392182396455102014-04-10T20:49:54.360+05:302014-04-10T20:49:54.360+05:30In today's world, citizenship does not matter ...In today's world, citizenship does not matter in central bank roles .....in transparent cultures.... For example, ask an economist friend of yours to confirm this for you: Stanley Fischer has a dual citizenship (of US and Israel) and he is largely believed to be a very good central banker for Israel. Rahuram Rajan is in a similar league. Please don't shut up (asking for that would be a mistake).... but do focus your energy on something meaningful. All that I am trying to say is that criticize a person for the job he does...good or bad..... Citizenship is meaningless when one has to constantly think about the effects of US Fed's action affecting emerging countries and markets.....what matters more is thought and capability. And if a sincere person from Timbuktu can do that for us, so be it. We have been looted by too many "citizens" of our own country....If you have more meaningful guidelines to judge Raghuram Rajan's abilities, I am all ears. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4328565848141654156.post-18184800482598907852014-03-29T14:30:25.203+05:302014-03-29T14:30:25.203+05:30Citizenship of Raghuram Rajan does matter, and he ...Citizenship of Raghuram Rajan does matter, and he is certainly not the most qualified or a suitable RBI Governor for India. And please don't tell me or anyone else to shut up on my blog. <br /><br />Your comment again makes me wonder what after all is Raghuram Rajan's citizenship. . Seema Saprahttps://www.blogger.com/profile/07094308832539462568noreply@blogger.comtag:blogger.com,1999:blog-4328565848141654156.post-74373526069833735102014-03-25T00:18:32.560+05:302014-03-25T00:18:32.560+05:30It is a pity you guys are thinking about these sil...It is a pity you guys are thinking about these silly issues. How has indian citizenship stopped A. Raja, Dawood (when he did those acts at least...not sure what it is now), Suresh Kalmadi, .....{add your favorite politician} from looting India. Governor of RBI is a specialist job and looking at any meaningful market measure will tell you that he is doing a great job. So shut up and focus your energy on meaningful things. He is the most qualified RBI governor....ever....and I don't care about his citizenship.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4328565848141654156.post-31590307825906570632014-01-30T17:04:05.254+05:302014-01-30T17:04:05.254+05:30Totally agree with you Seema. We desperately need ...Totally agree with you Seema. We desperately need a leader with some spine, who can get some pride back into India.<br /><br />The way things are going (BJP and Congress are no different), wemight as well disqualify any person not having over 10 years of USA funded brainwashing from any top Indian post.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4328565848141654156.post-72039635362475519982014-01-27T21:17:52.886+05:302014-01-27T21:17:52.886+05:30Mr Anonymous, your loss entirely if you stopped re...Mr Anonymous, your loss entirely if you stopped reading mid-way. <br /><br />My point would have been clear if you had indeed read the entire post. <br /><br />Raghuram Rajan's father as a RAW official would have been in touch with the CIA. His three sons got US scholarships at a time such scholarships were very difficult to obtain. <br /><br />Raghuram Rajan chose to settle down in the US and established permanent residence there, acquired a green card which is much more than a work permit, with the intent of obtaining US citizenship eventually. He might well have applied for US citizenship, the full facts are not out yet. <br /><br />Read http://seemasapra.blogspot.in/2014/01/is-indian-government-hiding-american.html<br /><br />His commitment is to the US where he would have remained if he had not been appointed/ supplanted to the helm of Indian economic policy making. <br /><br />He plans/ intends to retain his US green card, further showing his commitment to the United States as his permanent home and to return there eventually.<br /><br />His investments/ savings/ property are located in the US and in US currency. <br /><br />Certainly apart from the accident of his birth, his life choices have demonstrated a preference for the US as his domicile over India. <br /><br />All of this makes him an inappropriate choice as RBI governor. Seema Saprahttps://www.blogger.com/profile/07094308832539462568noreply@blogger.comtag:blogger.com,1999:blog-4328565848141654156.post-72782074407768416922014-01-27T01:15:39.324+05:302014-01-27T01:15:39.324+05:30I stopped reading the moment you said that because...I stopped reading the moment you said that because his dad was in the RAW, he could have ties to CIA. So according to you, being in RAW makes your patriotism suspect?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4328565848141654156.post-86153286951533904122014-01-03T20:30:58.272+05:302014-01-03T20:30:58.272+05:30Loved the detailed post and it's eye opening t...Loved the detailed post and it's eye opening to boot, I had no idea he spent this time in India. As a former admirer or Rajan, I am shocked. JerryKantrellhttps://www.blogger.com/profile/10687752130704635380noreply@blogger.comtag:blogger.com,1999:blog-4328565848141654156.post-36559100650792741732013-11-14T15:59:19.017+05:302013-11-14T15:59:19.017+05:30The Berkeley mafia and the Indonesian massacre - h...The Berkeley mafia and the Indonesian massacre - https://webspace.utexas.edu/hcleaver/www/357L/357LRansomBerkeleyMafia.htm<br /><br />stories about economic hit-men <br /><br />read <br />Orlando Letelier, "The Chicago Boys in Chile: Economic Freedom's Awfull Toll," The Nation, August 28, 1976 at http://www.ditext.com/letelier/chicago.html<br /><br />and read Milton Friedman did not save Chile at http://www.theguardian.com/commentisfree/cifamerica/2010/mar/03/chile-earthquake<br /><br />and read Pinochet-Era Economics, Borne From “Chicago Boys”, Still Impacting Chile at http://www.nearshoreamericas.com/pinochetera-economics-continue-mold-chile/<br /><br />read The Myth of the Chilean Miracle at http://www.multinationalmonitor.org/hyper/issues/1994/08/mm0894_12.html<br /><br />and read Invisible Hand and Iron Fist at http://www.thirdworldtraveler.com/Latin_America/PinochetandChile.htmlSeema Saprahttps://www.blogger.com/profile/07094308832539462568noreply@blogger.comtag:blogger.com,1999:blog-4328565848141654156.post-2994545861376977572013-11-14T14:48:19.304+05:302013-11-14T14:48:19.304+05:30Also the Berkeley mafia ...Also the Berkeley mafia ...Seema Saprahttps://www.blogger.com/profile/07094308832539462568noreply@blogger.comtag:blogger.com,1999:blog-4328565848141654156.post-53050832029258514622013-11-13T11:39:02.777+05:302013-11-13T11:39:02.777+05:30Just found this blog! Amazing stuff ..
I am sure ...Just found this blog! Amazing stuff ..<br /><br />I am sure you are aware of Milton Friedman led infamous Chicago Boys who ruined Chile .. https://www.youtube.com/watch?v=hA736oK9FPg<br /><br />Is there anyway we can stop this selling out??Anonymousnoreply@blogger.com