India's Banks: Sowing the seeds of a distant tomorrow's crisis

This article in the FT caught my eye this morning. Years from now and it can be as long as a decade, if there is a bank related financial crisis in India, it would be traced back to this point.

The industrial conglomerates will say Yes to any condition just to play. Once in, anything can be arranged. Overwhelming self interest will eventually destroy a good party. Meanwhile this is a positive development for Indian markets. Have a good ride up. The first few years would be a no-brainer when risks are minimal.

Liberalizations always usher in opportunities to make very good money, but they also eventually end in a terrible hangover.

India is looking good, and Indonesia too, which is a different story. It is cheap relative to Brazil.