Wednesday, October 22, 2008
Saturday, October 18, 2008
Tuesday, October 14, 2008
Extracts from emails sent to friends during various internships:
To Lahiri (
The four of us are a bit short on resources when it comes to cooking. We need to buy stuff everyday, and only now have I fully appreciated the importance of a fridge in the household. And I was my usual miserly self when I went out to hire utensils, which means that we have the bare minimum that is required to concoct dinner. Or significantly less than the bare minimum (if you go by what Kisku claims). But we improvise and get by. Kisku and I have discovered a method of toasting bread on a steel hanger which is nothing short of genius.
To Anindita (
Today in office, Lahiri was telling us what he had to go through to buy a ticket at VT. The demonstration involved him walking on all fours while gesticulating. At that point an associate entered our room.
To Darshana (
It was Lahiri (who else?) who first got into the habit of swiveling in his chair. Then Ayan picked it up, and also added one vital touch: shouting “Whee!” In a plush library high above downtown Mumbai, three interns sit in expensive chairs, reading magazines, browsing the net, chatting with each other, and sometimes working. Occasionally, they swivel in their chairs and shout “Whee!”
The title of the post may have surprised you initially. Of all things to get nostalgic about, you may well have thought, internships are the strangest.
But now you understand, don’t you? A little?
Sunday, October 12, 2008
An emergency trading session was organized by the International Swaps and Derivatives Association on the day before Lehman Brothers filed for Chapter 11 bankruptcy. Its purpose was to allow dealers in credit default swaps and other types of derivatives to unwind positions linked to Lehman, thereby reducing risk associated with a potential Lehman Brothers bankruptcy. Even though the trades technically became invalid when Lehman missed its deadline for bankruptcy filing by a few hours, credit derivatives dealers are agreeing among themselves “in the spirit of things” (to quote a London trader) to honour trades made at the session.
When fear grows too intense to handle,
We shrink into a private smile,
Surprised when here and there a candle
Drives back the dark a little while…
In other news pertaining to world financial markets, the National Debt Clock installed at Times Square in New York, has been forced to drop the dollar sign in the total figure to accommodate a ten trillion dollar figure.