Business Recorder [Pakistan\’s First Financial Daily]: \”Government wooing banks to bail out KSE from settlement crisis
KARACHI (March 24, 2005): The Federal Government is said to be quietly nudging the big banks to rescue the Karachi Stock Exchange from the settlement crisis it is facing to the tune of Rs 60 billion, it is reliably learnt. Hectic behind the scenes activity was seen on Wednesday, a national holiday, Federal Ministry of Finance bosses, high officials from the Securities and Exchange Commission, and leading brokers tried to persuade bankers to lend a helping hand for a smooth settlement of March Future Contracts.\”
As additional info, the exchange only holds about Rs. 18 billion in exposure from its members….so teh gap they need to fill is almost Rs. 42 billion. We have come a LONG WAY!!
Hmm……this was one reason for the collapse…..
If you are interested is the reason behind this one…….you should open your eyes further….
Imagine….The best performing bourse in the world….is facing this because of some irresponsibe people!!
So far..ive heard abou 8 confirmed heart attachs…..where were the concers and worries when the market was on its way up??
My point is…if it can go up by 2000, it can go down by 2000 too…
no one questioned the gains people made then, so why worry about the losses now? Easy come..easy go…that\’s the way the world goes!