Yamato is a medium sized insurance company has filed for bankruptcy with debts of over $2bn! FT writes
"Yamato Life failed largely because of its problematic investments in securitisation products"Well now we know US been very gracious not just in helping Asian countries with its dollars but also with its subprime risks. Not just the Japan, there were rumours and even speculation that the ICICI bank of would also buckle under. All dismissed as rumours of course by the Bank.
For a while, with the bullish run, the peanuts that I earn was invested 'strong' stocks; I even diversified and kept a little in mutual funds. Both tumbled, fell, went, vanished. Can I leave leave them in the bank? Or do I need to stash them under my pillow? Sooner than later I believe the government in India would also guarantee the investments. Fingers crossed.
Last thought: if there is no where to 'invest' why don't we just spend? Or are we concerned with saving up all for a rainy day?
Save the cheerleader, save the world :)
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