The Economist had this article talking about the imminence of new licenses for the opening of banks in India. And I put in a couple of long comments on the article. Here they are. I will be extremely worried if Reliance gets a banking license. And why does Indian banking need Mr. Vikram 'Citi' Pandit's punidtry in Indian banking? Haven't American banks including Citi, JP Morgan and all the other too-big-to-fail banks and other financial institutions including hedge funds caused enough havoc to the American economy? Have not the GREED of a few men to make millions and billions of dollars per year caused enough unemployment for millions of Americans? We do not want a repeat of the mistakes of America.
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