Pakistani Investors Stone Karachi Exchange as Stocks Plunge

Discussion in 'Wall St. News' started by Dan44, Jul 17, 2008.

  1. Dan44

    Dan44

    http://www.bloomberg.com/apps/news?pid=20601087&sid=a111C0hsxBic&refer=home


    "Pakistan investors stormed out of the Karachi Stock Exchange, smashed windows and cursed regulators after the benchmark index fell for a 15th day, the worst losing streak in at least 18 years.

    ``I have lost my life savings in the last 15 days and no one in the government or regulators came to help us,'' said Imran Inayat, 45, a protester and a former banker who retired early and said he lost 300,000 rupees ($4,175) on the market. .............."


    One thing you can say about the Pakistani's - they are a fiery breed of people.
    They will be burning effigies soon. It won't matter what or who, just burn something. Probably an American flag if all else fails.
     
  2. noparole

    noparole

    ................or an oil trader.................
     
  3. Stops not allowed on the Paki exchange?
     
  4. That exchange has a total capitalization of only a few million dollars. It's no big deal if it implodes.
     
  5. A sign of the times, the past 6 years of inflation have created a huge bubble in asset prices around the world. Deflation is now taking hold in emerging countries as capital flight takes hold. Remember, inflation can't exist without extention of credit. All the banks are broke. The inflation we are seeing now, is just the realization of the last few years.
     
  6. Does SEC fear the same will happen to NYSE, etc. eventually if they don't stop the blood letting?
     
  7. It's never their fault. Always the fault of some great satan or other.
     

  8. There will always be a buyer for American companies, at a reasonable price, of course.
     
  9. Getting warmer. It's funny to think about a banker losing 300,000 rupees, and it only being $4300+. Humorous.

    What do they have? Caves? Bomb vests? I guess stoning is all the rage over there.