Probably not the best time to be a finance student hoping to get a job. Two of the big five I-banks gone and few other companies hovering close to bankruptcy surely makes me shiver. But hey, wise people say the Indian economy is resilient (I have to believe that, need a job soon).
My job prospects aside, let’s look at the larger picture now. People hopefully will not be crazy in the future and be cautious of new derivative products (ah who am I kidding, wait till the next bubble). Insurance companies will do what they are supposed to do, sell insurance and not dabble in complex derivative products. Banks will be cautious and watch whom they lend to. Governments will play an active role in clearing the mess. The global economy is probably in a recession it is just a matter of accepting it, but things will get better. All this is possible in Utopia, but the lessons here are hard hitting.
As I reflect on these points preparing myself for interviews in the future, the perfect line hits me. I will say to the recruiters, ‘Sir, I am a finance student, can I sell soaps at your company’.
4 comments:
It's going to be more like "Sir, kya mein aap ke company ka tel bej sakta hoon ?"
Anyway, there will be no lessons learnt....another decade later we will have a similar collapse. After all, as Kishore Biyani says, you can never take out greed and fear out of the equation.
i love the last line,altho d idea of selling doesnt appeal too much,i guess v shud all sell the new google phone,after all its said to be better than iphone n blackberry ;) n ur rite all dat stuff will probly only happen in utopia..lolz...
i meant selling soaps..
It amazing how wall street fumbles and crashes once every decade without fail. Who can forget the dotcom bust, and the 87 crash!!!
But they manage to innovate, get out of that hole and wriggle into a new one..
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