Year 2008 provided lot of action and drama starting with Stock Market crash of 70% , Collapse of Global financial system and their downfall led by Banking legends like Lehman brother’s, Biggest bailout of  Freddie and Fannie and AIG, Merger of Meryll Lynch with Bank of America, Banking license to Goldman Sachs and Morgan Stanley, Recession in USA, Europe, UK, Japan and Honkong. Slowdown in emerging economies like INDIA and CHINA, Commodities at all time high which Included Gold, Silver, and Crude which made a high at $147 per barrel and then falling all the way down to $32 per barrel.

 

Bailouts has become a fashion in which no country was left behind not even INDIA where lot of drama happened with regard to exposure of Indian banks to LEHMAN Brother’s and one stock which got heavily punished in all this was ICICIBANK, It took lot of efforts from Finance Ministry, RBI and Management of ICICIBANK to regain confidence of Investors.

 

Year 2008 would be remembered for lot of things that would include rate cuts announced by RBI. Stimulus package by Government to boost economy, More than 20 terrorists attack,  Job Cuts ,  Pay  cuts , Corporate Governance, Ranbaxy and Daichi deal, Satyam and Maytas Deal, Famous battle between Ambani brothers with regard to KG Basin Gas price which is impacting lot of projects and companies… & at the end MUMBAI ATTACKS where innocent people lost their lives, WHAT A YEAR….!!!

 

A year which everyone would like to forget and move on but inspite of so many events which have shaken the strongest of economies, INDIA is not that much impacted because of strong financial system and hats off to Finance Ministry, SEBI and RBI for their commendable job. Hope this New Year brings with it lot of new things and Happiness along with it, So Wish You All Happy New Year, 2009………………………………………

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