Monday, October 22, 2007

'Who benefited from the market crash?'

oct 22nd, 2007

behind every scam in india, there's usually a kaaangress-wallah.

nobody knows what chidambaram did here, but there's reason to believe there was insider trading going on. some insiders would have benefited, for sure.

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'Who benefited from the market crash?'-  the FM ofcourse- Mr. kirit Somayya takes up cudgels.
Its common knowledge that FM is in the ring of stock trading and now his son karthi is doing it. Inside infoo is that he had gone heaviliy short on futures and wanted to cover the positions in a falling market.
How then wld any one explain the contrary positions taken by SEBI  ??
rv anand

'Who benefited from the market crash?'

Prasanna D Zore and Syed Firdaus Ashraf | October 18, 2007 | 17:15 IST

He is a man with a mission. As founder-president of the Investors' Grievances Forum he is�a messiah of small investors. And now, Kirit Somaiya has taken up cudgels against Finance Minister P Chidambaram.

The former Lok Sabha MP from Mumbai North East has blamed the finance minister and the stock market regulator, the Securities and Exchange Board of India, for the market hitting a lower circuit on October 17 and the subsequent recovery after the FM's statement.

To prove his point, Somaiya said,�he is going to file a complaint against the FM and Sebi with the Chief Vigilance Commissioner, the Comptroller and Auditor General and Sebi itself

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