Air India sat pretty while everyone cried foul on the aviation industry, airlines' stopped pying the gas billa t the airport and while vendors have been paid and /. or prioritised, banks continue to suffer, printing credit lines, much like the Eruopeans without any collateral, reusing old paper and where loans are dead certain to be lost to fantasies, issue preference shares to themselves. They should have been adminstering the airlines in bankruptcy court buit as of now, no leasing arrangement for athe aircraft, no stoppage to airlines expansion and no money to pay salaries, contagion spreading to banks instead of cutting losses. 

A random quote to a ftalphacville post on Flynn scores that also segues to my next post on the general increase in abstraction and problem skills as a way of life. So you know I am not really complaining banks made the deal. Banks should.

We’ve become better at abstract thinking. We don’t have any trouble analysing a financial market that has no physical location, or considering credit exposures to sovereign nations through derivatives contracts. It’s just what we do.

Furthermore, as the ability to think abstractly correlates with intelligence, it becomes a self-reinforcing cycle where the people who are best at such reasoning stay longer in education, and get even better at abstract thinking, becoming even more intelligent… until one day, after many years of study, a good portion of them land in investment banks. So what do you think happens next? To what task is the abstract thinking capability employed?

Posted via email from The India Investment Post