Anil Selarka, author of Sub Prime Resolved, writes Part -8 of How to Invest into anything series under the title – Convertible Bonds. In this comprehensive essay, he explains the complexity of this hybrid instrument in very easy style and language a common investor would understand. At the end of this article, he even introduces a new concept – a simple QUIZ to determine how much the reader understood the article. He also appends Answer Sheet with comprehensive explanation to each answer with reference to the article.
Ignored Letter to the President Bush Causes $15 Trillion Blow Out
The Author reproduces the letter addressed to the President Bush proposing resolution of credit crisis with complete action plan. The letter was received by White House on 25 August, 2008, almost 2 months and 1 week before the present impasse. It was not attended to with the result the crisis developed at unprecedented pace from 2nd week of September, throwing entire Nation and the World into most horrific financial crisis. While the President had time to go to G7 meeting, he did not have time to at least look at the solution recommended at his doorstep by this author. And the result is known now – $40 trillions lost world over in last 2 months (including $15 to $20 trillions in US alone) and the crisis is not even showing sign of abating – in fact it is worsening. 2 months of golden opportunity was thrown away by the President of United States who never had any idea what to do, when, how and resolve it as fast as he could. He believed merely on rhetoric and trusted his advisers who let him down everywhere.