http://www.dishtracking.com/forum/ Thu, 02 Sep 2010 21:48:22 +0000 MyBB http://www.dishtracking.com/forum/showthread.php?tid=9969 Thu, 02 Sep 2010 15:27:45 +0000 http://www.dishtracking.com/forum/showthread.php?tid=9969
Mumbai, September 2, 2010: NDTV Profit has announced the winners of the prestigious and most awaited NDTV Profit Business Leadership Awards 2010 at a special award ceremony at The Trident, Mumbai graced by Union Finance Minister Mr. Pranab Mukherjee. The award saluted business leaders whose relentless pursuit of excellence has fuelled India’s journey to the forefront of the world economy

Alan Greenspan, renowned American Economist, spoke on world economy, U.S. financial crisis and economies of Asia, please find enclosed transcript of his interview at the award function.

NDTV: Thank you so much for taking time and joining us here on this special evening. My first question to you is this. Do you agree with the policies that are underway right now in the U.S. to fight the financial crisis, the economic crisis… Do you agree to those policies? And if you were at the helm right now what would you do differently?

Alan : First of all let me say that this is type of the crisis which emerges in once in several generations it is characteristic of market economy as they do well for vast proportion of time…. periodically they do break down and they break down largely as a consequence of degrees of euphoria that tend to be cumulative over time and well these generate bubbles...some bubbles deflate without any consequence to the economy as indeed the dot com bubble there in the 1990s….Others deflate with extraordinarily difficult problems that are fostered at the end of it. It is extremely difficult to know when these are occurring because a financial crisis which is of course we are talking about is…. by definition is a break in asset prices of a significant amount which are unexpected and if they are expected then the market price you will get a situation in which there would be arbitraged the way as indeed the concern about the American dollar and the current account deficit was… so that.. I think that there were two relevant policies here.

One is the policies of the Federal Reserve and I think that they have done an excellent job and indeed were not with the fact that the Federal Reserve moved in when this very rare event when you have to substitute sovereign credit for private credit became evident following the crisis that began in September 2008. Similarly, the fiscal policies which were directed at moving funds into the banking system during this crisis were also required for precisely the same reason. This is extremely rare and requires extremely rare actions.

You can only mitigate the nature of these consequences in part but you have to rely to a very substantial extent on a normal trade of powers of the market place itself which we are seeing in functioning. My own view is as I have mentioned probably on numerous occasions, I do not think we ought to be expanding the deficit very much longer in the United States because I think the long term consequences are very extraordinarily negative and I think we are probably at a stage taking too much risks so my argument basically is that we have had enough stimulus for the moment and I think we need to allow it to calm down because the major problem that we confront at the moment is an extraordinary amount of risk aversion. Risk aversion in the sense that American Corporations that are highly profitable are not moving that profitability into capital investment at the rate they would have passed relationships and at that deficit which is caused by fear and uncertainty is pretty much offsetting in dollar amounts the size of the stimulus and so what I think it is required here is to try to resolve our regular tolling system the problems that we have as quickly as we can and let the system calm down and let the curative process ease where I do not think we can spend our way out of this problem

NDTV: Dr. Greenspan, the worst case scenario being discussed right now is the double dip. The best case scenario is a prolonged period of slow growth in the economy like the U.S., Europe, Japan. My question is that against that backdrop you have emerging economies like India and China growing at rates close to 8%. The prominence of these economies do you see it shifting in the favor of emerging economies over the years ahead?

Alan : Well lets remember that we are all in the same global economy that we interact an essentially remember that there is a very substantial amount of demand for exports in an emerging age which are moved to United States specifically and to Europe and other countries in a developed world and if the developed world is not functioning properly as indeed it is not, this extraordinary boom that we have seen is emerging in India, in China, Indonesia, and in the long list of successful economies... that can't go on because it is so dependent on the issue at this stage… of exporting net to the United States and that is the demand in the United States and elsewhere is a major factor in the success in the East of Asia and until you get far more way for example in China have domestic domain generated internally and less on and less on export markets and the same pretty much in the East of Asia. It is less so obviously in India which is far less dependent on export markets and for example the rest of Asia. Strangely enough, India is doing better than anybody at this stage in part because it is largely self contained. I am not going to argue that the inflation or the deflation is in large deficit and the very rapid growth in the money supply and to not to stabilizing over the long run… today India has managed to contain this problem but it can't do so continuously and I have considerable concerns that if we think in terms that we are going to decouple…that is an illusion. We are all in the same global market to the extent that we prosper the rest of the world will prosper and to the extent that the rest of world prospers we in the United States will prosper and I think that is good and we are finding that rising standards of living all around the world require an ever increasing specialization of labor and that in turn requires an ever increasing globalisation and that is all to the good so I think we are having very significant problems at the moment but the notion that somehow we are going to solve this by decoupling the issue of the developing world from the developed world that is I think an illusion.

NDTV: What percentage chance do you think that there is going to be a double dip recession in the U.S.? What is the percentage? Probability.

Alan : I would say that it is somewhere between a fourth and a third. On the part of that side remember that in the United States there has been a very dramatic decline in construction both residential and non-residential. That is a major part of the economy it is now at the bottom. It has no place to go but up. Housing starts for example, are just extraordinarily low. They can barely get lower because replacement demand at the minimalist level is what we have now. Motor vehicle which is required extraordinarily in the United States for a number of years, But now we are running out of space. We don't have any room for new vehicles anymore and so that just comes down as well. Inventory accumulation that is gone on in the United States but not to the point where it is in balance and therefore subject to interaction so there are actually down size limits to where the United States economy can go because we have already made much of the rustle construction necessary correction. The key variable in here, the best I can judge is essentially what happens to global equity prices because I think what we underestimate is the extent to which the stock market around the world have a very critical impact on the economic activity, unemployment and on general economic success.

The reason is best seen in a context which very recently happened. We lost 35 trillion dollars in market value of listed stocks around the world during the contraction following the Lehman Brothers bankruptcy and you could see the value of collateral of all parts of the financial community collapse, banks contracted, losses were very great and we had essentially the disabling of the financial intermediary system, the mechanism which is so critical to the market economy moving domestic saving into domestic investment and the result of that was an extraordinarily large contraction in the economic activity.

When the stock market exhausted itself on the downside we had an all fashion selling climax. It started to bounce back and it is been quite remarkable to see what has happened to the banking system as a consequence. We just released figures yesterday here in the United States indicating the bank profitability has come all the way back. The reason that it has come all the way back is the fact that the rise in the market value around the world inevitably spilled over into bank stocks in the United States. The market value of the equity of the banks increased tremendously and remember that it is the market value of equity in banks which is the cushion which facilitates the ability to issue liabilities, to issue debts, to take on deposits and you could see the value of debt going up and immediately the ability of the American banking system to issue new stock, issue new debt, and very heavy debts to the federal government have been largely paid off through capital gains.

Now there are two factors that are important. One is we have an extraordinary high degree of aversion towards risk for long term fixed assets and indeed that is showing up in very high equity premiums in the market meaning the risk implicit in the expected profits related to the stock price shows the stock prices by any historical relationship are significantly under valued. But they can remain undervalued for years and the question essentially is whether we can forecast the significant recovery out of here. Today's prices are hard to read in the sense that it is moving really well and we are getting some positive surprises in the economy. But the main issue here is that if for whatever reason stock prices begin to rise it will create the asset base for recovery and reduce the odds of double dip very significantly. So I would say if i were trying to manage the probabilities of a double dip and its outcome I would be watching the stock market more than anything else because I think we tend to underestimate the asset price values of all types that is United States in housing, in stocks, in banks, in alliance and I think as the years go on, the balance sheet aspects of American Economy, as indeed with every developed economy become more crucial factors in a short term economic forecast.

Prannoy: Thank you very much for being with us live. Very kind of you. Thank you very much indeed.]]>
Mumbai, September 2, 2010: NDTV Profit has announced the winners of the prestigious and most awaited NDTV Profit Business Leadership Awards 2010 at a special award ceremony at The Trident, Mumbai graced by Union Finance Minister Mr. Pranab Mukherjee. The award saluted business leaders whose relentless pursuit of excellence has fuelled India’s journey to the forefront of the world economy

Alan Greenspan, renowned American Economist, spoke on world economy, U.S. financial crisis and economies of Asia, please find enclosed transcript of his interview at the award function.

NDTV: Thank you so much for taking time and joining us here on this special evening. My first question to you is this. Do you agree with the policies that are underway right now in the U.S. to fight the financial crisis, the economic crisis… Do you agree to those policies? And if you were at the helm right now what would you do differently?

Alan : First of all let me say that this is type of the crisis which emerges in once in several generations it is characteristic of market economy as they do well for vast proportion of time…. periodically they do break down and they break down largely as a consequence of degrees of euphoria that tend to be cumulative over time and well these generate bubbles...some bubbles deflate without any consequence to the economy as indeed the dot com bubble there in the 1990s….Others deflate with extraordinarily difficult problems that are fostered at the end of it. It is extremely difficult to know when these are occurring because a financial crisis which is of course we are talking about is…. by definition is a break in asset prices of a significant amount which are unexpected and if they are expected then the market price you will get a situation in which there would be arbitraged the way as indeed the concern about the American dollar and the current account deficit was… so that.. I think that there were two relevant policies here.

One is the policies of the Federal Reserve and I think that they have done an excellent job and indeed were not with the fact that the Federal Reserve moved in when this very rare event when you have to substitute sovereign credit for private credit became evident following the crisis that began in September 2008. Similarly, the fiscal policies which were directed at moving funds into the banking system during this crisis were also required for precisely the same reason. This is extremely rare and requires extremely rare actions.

You can only mitigate the nature of these consequences in part but you have to rely to a very substantial extent on a normal trade of powers of the market place itself which we are seeing in functioning. My own view is as I have mentioned probably on numerous occasions, I do not think we ought to be expanding the deficit very much longer in the United States because I think the long term consequences are very extraordinarily negative and I think we are probably at a stage taking too much risks so my argument basically is that we have had enough stimulus for the moment and I think we need to allow it to calm down because the major problem that we confront at the moment is an extraordinary amount of risk aversion. Risk aversion in the sense that American Corporations that are highly profitable are not moving that profitability into capital investment at the rate they would have passed relationships and at that deficit which is caused by fear and uncertainty is pretty much offsetting in dollar amounts the size of the stimulus and so what I think it is required here is to try to resolve our regular tolling system the problems that we have as quickly as we can and let the system calm down and let the curative process ease where I do not think we can spend our way out of this problem

NDTV: Dr. Greenspan, the worst case scenario being discussed right now is the double dip. The best case scenario is a prolonged period of slow growth in the economy like the U.S., Europe, Japan. My question is that against that backdrop you have emerging economies like India and China growing at rates close to 8%. The prominence of these economies do you see it shifting in the favor of emerging economies over the years ahead?

Alan : Well lets remember that we are all in the same global economy that we interact an essentially remember that there is a very substantial amount of demand for exports in an emerging age which are moved to United States specifically and to Europe and other countries in a developed world and if the developed world is not functioning properly as indeed it is not, this extraordinary boom that we have seen is emerging in India, in China, Indonesia, and in the long list of successful economies... that can't go on because it is so dependent on the issue at this stage… of exporting net to the United States and that is the demand in the United States and elsewhere is a major factor in the success in the East of Asia and until you get far more way for example in China have domestic domain generated internally and less on and less on export markets and the same pretty much in the East of Asia. It is less so obviously in India which is far less dependent on export markets and for example the rest of Asia. Strangely enough, India is doing better than anybody at this stage in part because it is largely self contained. I am not going to argue that the inflation or the deflation is in large deficit and the very rapid growth in the money supply and to not to stabilizing over the long run… today India has managed to contain this problem but it can't do so continuously and I have considerable concerns that if we think in terms that we are going to decouple…that is an illusion. We are all in the same global market to the extent that we prosper the rest of the world will prosper and to the extent that the rest of world prospers we in the United States will prosper and I think that is good and we are finding that rising standards of living all around the world require an ever increasing specialization of labor and that in turn requires an ever increasing globalisation and that is all to the good so I think we are having very significant problems at the moment but the notion that somehow we are going to solve this by decoupling the issue of the developing world from the developed world that is I think an illusion.

NDTV: What percentage chance do you think that there is going to be a double dip recession in the U.S.? What is the percentage? Probability.

Alan : I would say that it is somewhere between a fourth and a third. On the part of that side remember that in the United States there has been a very dramatic decline in construction both residential and non-residential. That is a major part of the economy it is now at the bottom. It has no place to go but up. Housing starts for example, are just extraordinarily low. They can barely get lower because replacement demand at the minimalist level is what we have now. Motor vehicle which is required extraordinarily in the United States for a number of years, But now we are running out of space. We don't have any room for new vehicles anymore and so that just comes down as well. Inventory accumulation that is gone on in the United States but not to the point where it is in balance and therefore subject to interaction so there are actually down size limits to where the United States economy can go because we have already made much of the rustle construction necessary correction. The key variable in here, the best I can judge is essentially what happens to global equity prices because I think what we underestimate is the extent to which the stock market around the world have a very critical impact on the economic activity, unemployment and on general economic success.

The reason is best seen in a context which very recently happened. We lost 35 trillion dollars in market value of listed stocks around the world during the contraction following the Lehman Brothers bankruptcy and you could see the value of collateral of all parts of the financial community collapse, banks contracted, losses were very great and we had essentially the disabling of the financial intermediary system, the mechanism which is so critical to the market economy moving domestic saving into domestic investment and the result of that was an extraordinarily large contraction in the economic activity.

When the stock market exhausted itself on the downside we had an all fashion selling climax. It started to bounce back and it is been quite remarkable to see what has happened to the banking system as a consequence. We just released figures yesterday here in the United States indicating the bank profitability has come all the way back. The reason that it has come all the way back is the fact that the rise in the market value around the world inevitably spilled over into bank stocks in the United States. The market value of the equity of the banks increased tremendously and remember that it is the market value of equity in banks which is the cushion which facilitates the ability to issue liabilities, to issue debts, to take on deposits and you could see the value of debt going up and immediately the ability of the American banking system to issue new stock, issue new debt, and very heavy debts to the federal government have been largely paid off through capital gains.

Now there are two factors that are important. One is we have an extraordinary high degree of aversion towards risk for long term fixed assets and indeed that is showing up in very high equity premiums in the market meaning the risk implicit in the expected profits related to the stock price shows the stock prices by any historical relationship are significantly under valued. But they can remain undervalued for years and the question essentially is whether we can forecast the significant recovery out of here. Today's prices are hard to read in the sense that it is moving really well and we are getting some positive surprises in the economy. But the main issue here is that if for whatever reason stock prices begin to rise it will create the asset base for recovery and reduce the odds of double dip very significantly. So I would say if i were trying to manage the probabilities of a double dip and its outcome I would be watching the stock market more than anything else because I think we tend to underestimate the asset price values of all types that is United States in housing, in stocks, in banks, in alliance and I think as the years go on, the balance sheet aspects of American Economy, as indeed with every developed economy become more crucial factors in a short term economic forecast.

Prannoy: Thank you very much for being with us live. Very kind of you. Thank you very much indeed.]]> http://www.dishtracking.com/forum/showthread.php?tid=9968 Thu, 02 Sep 2010 15:24:23 +0000 http://www.dishtracking.com/forum/showthread.php?tid=9968
Stir up an appetite that will satisfy any one’s hunger palette whether you are studying till late at night or for a quick bite on the go.. There is something to eat, for everyone here anytime of the day or night on Gourmet Central!

Catch this episode to know if there is something to eat, anytime of the day or night on GOURMET CENTRAL only on NDTV Good Times on Friday, 3rd September at 7 pm and Monday, 6th September at 12 pm.]]>
Stir up an appetite that will satisfy any one’s hunger palette whether you are studying till late at night or for a quick bite on the go.. There is something to eat, for everyone here anytime of the day or night on Gourmet Central!

Catch this episode to know if there is something to eat, anytime of the day or night on GOURMET CENTRAL only on NDTV Good Times on Friday, 3rd September at 7 pm and Monday, 6th September at 12 pm.]]> http://www.dishtracking.com/forum/showthread.php?tid=9967 Thu, 02 Sep 2010 10:51:53 +0000 http://www.dishtracking.com/forum/showthread.php?tid=9967 Guests cannot see images in the messages. Please register to forum by clicking here to see images.]]> Guests cannot see images in the messages. Please register to forum by clicking here to see images.]]> http://www.dishtracking.com/forum/showthread.php?tid=9966 Thu, 02 Sep 2010 09:59:07 +0000 http://www.dishtracking.com/forum/showthread.php?tid=9966
NDTV Profit Business Leadership Awards 2010

Vikram Pandit, CEO of Citigroup wins Global Business Leader of the Year and speaks exclusively to NDTV

Mumbai, September 2, 2010: NDTV Profit has announced the winners of the prestigious and most awaited NDTV Profit Business Leadership Awards 2010 at a special award ceremony at The Trident, Mumbai graced by Union Finance Minister Mr. Pranab Mukherjee. The award saluted business leaders whose relentless pursuit of excellence has fuelled India’s journey to the forefront of the world economy

Vikram Pandit, CEO of Citigroup, won the Global Business Leader of the Year, please find enclosed transcript of his interview at the award function.

NDTV: Congratulates Vikram…. Your job has been described as one the toughest banking jobs in the history?

Vikram: That’s a very interesting & important question, obviously leading Citi through one of the worst economic climates in history has certainly been challenging.. but it also has been incredibly gratifying.

I took the job because I believe in Citi's purpose- connecting clients with the world and helping customers build their financial futures. And at that time I was also excited by the mission at hand to rebuild, restructure and reposition world's leading financial company. Not only for what we were going through but for the future. The last 2 years have been difficult at times but I had the privilege of working with an incredible management team and 259 thousand talented colleagues around the world. Together we have made tremendous progress and I am looking forward to our shared future.

NDTV: What’s your vision for Citi’s future in India?

Vikram: Well it is clear that India has a special place in my heart, not only because of my heritage but I am also very proud of the fact that Citi has been in India for more than 100 years. We started in Calcutta in 1902 and in many ways India is home. We've got a strong franchise in India and we are looking forward to be a part of the India's growth and to do that we will continue to serve our clients, from helping India's top global corporations, to supporting the growth and ambitions of its small & mid-size enterprises to enabling individuals and households. We will play a major role in India's economic future. And we will continue to support micro-finance & support India's priorities, particularly in the area of financial inclusion & financial education. India will continue to grow for a longtime to come & we will grow with India.. we will particularly excel at connecting the world to India & India to the world.

NDTV: And what are your top priorities with Citi ?

Vikram: Let me take a minute to talk about responsible finance. We are instilling a culture of responsible finance in every part of this company. Before we enter a relationship or transaction we ask ourselves - does this create economic value? Is it in the best interest of our client? And is it systematically responsible? The answer to these three questions has to be Yes. If you want to learn from the past….act on the lessons of the crisis and address the challenges of the aftermath. A culture of responsibility is essential.

NDTV: Thank you Vikram for sharing your thought with us.

Vikram: This is a great honor indeed and I accept it again as I said on behalf of all of Citi. Thank you.]]>
NDTV Profit Business Leadership Awards 2010

Vikram Pandit, CEO of Citigroup wins Global Business Leader of the Year and speaks exclusively to NDTV

Mumbai, September 2, 2010: NDTV Profit has announced the winners of the prestigious and most awaited NDTV Profit Business Leadership Awards 2010 at a special award ceremony at The Trident, Mumbai graced by Union Finance Minister Mr. Pranab Mukherjee. The award saluted business leaders whose relentless pursuit of excellence has fuelled India’s journey to the forefront of the world economy

Vikram Pandit, CEO of Citigroup, won the Global Business Leader of the Year, please find enclosed transcript of his interview at the award function.

NDTV: Congratulates Vikram…. Your job has been described as one the toughest banking jobs in the history?

Vikram: That’s a very interesting & important question, obviously leading Citi through one of the worst economic climates in history has certainly been challenging.. but it also has been incredibly gratifying.

I took the job because I believe in Citi's purpose- connecting clients with the world and helping customers build their financial futures. And at that time I was also excited by the mission at hand to rebuild, restructure and reposition world's leading financial company. Not only for what we were going through but for the future. The last 2 years have been difficult at times but I had the privilege of working with an incredible management team and 259 thousand talented colleagues around the world. Together we have made tremendous progress and I am looking forward to our shared future.

NDTV: What’s your vision for Citi’s future in India?

Vikram: Well it is clear that India has a special place in my heart, not only because of my heritage but I am also very proud of the fact that Citi has been in India for more than 100 years. We started in Calcutta in 1902 and in many ways India is home. We've got a strong franchise in India and we are looking forward to be a part of the India's growth and to do that we will continue to serve our clients, from helping India's top global corporations, to supporting the growth and ambitions of its small & mid-size enterprises to enabling individuals and households. We will play a major role in India's economic future. And we will continue to support micro-finance & support India's priorities, particularly in the area of financial inclusion & financial education. India will continue to grow for a longtime to come & we will grow with India.. we will particularly excel at connecting the world to India & India to the world.

NDTV: And what are your top priorities with Citi ?

Vikram: Let me take a minute to talk about responsible finance. We are instilling a culture of responsible finance in every part of this company. Before we enter a relationship or transaction we ask ourselves - does this create economic value? Is it in the best interest of our client? And is it systematically responsible? The answer to these three questions has to be Yes. If you want to learn from the past….act on the lessons of the crisis and address the challenges of the aftermath. A culture of responsibility is essential.

NDTV: Thank you Vikram for sharing your thought with us.

Vikram: This is a great honor indeed and I accept it again as I said on behalf of all of Citi. Thank you.]]> http://www.dishtracking.com/forum/showthread.php?tid=9963 Thu, 02 Sep 2010 06:48:19 +0000 http://www.dishtracking.com/forum/showthread.php?tid=9963 Star Plus HDin their list in Channel No 101]]> Star Plus HDin their list in Channel No 101]]> http://www.dishtracking.com/forum/showthread.php?tid=9962 Thu, 02 Sep 2010 06:28:42 +0000 http://www.dishtracking.com/forum/showthread.php?tid=9962 MAStiii Muzic FTA NOW NSS6 95.0E

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Guests cannot see links in the messages. Please register to forum by clicking here to see links.]]>

for more info visit

Guests cannot see links in the messages. Please register to forum by clicking here to see links.]]> http://www.dishtracking.com/forum/showthread.php?tid=9955 Thu, 02 Sep 2010 04:47:38 +0000 http://www.dishtracking.com/forum/showthread.php?tid=9955