Has this always been your approach during both the good times and bad?
We learnt from our parents. They shared their experience of overcoming the crisis of the 1930s with us. Then together we went through the crisis of the 1950s.
I still remember, one day I saw my father throwing away his cheque books. When I asked why he was discarding them he replied that they were useless. Now that was the 1950s, and things have changed manifolds now. That time banks went bust, and the depositors went bankrupt.
Now, fortunately, the US has taken a genuine stand and nothing has yet gone bankrupt. They have even managed to rescue the corporates.
But we must take care to see that the fund is not misused, that the corporates or banks or financial institutions do not get into the evil quagmire once again.
The regulatory body needs to review each and every norm and give shape to a new and healthy system.
Image: A man dressed as poultry advocates his political views in front of the New York Stock Exchange | Photograph: Spencer Platt/Getty Images
Also read: Why Warren Buffett invested in Goldman Sachs
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