Business Networking

Indians in US are hit hard by the credit crunch in US , Indian Professionals in US who have parked there money in Wall Street as an investment plan have seen there portfolio shrink by 30% to 90% .
With the recent suicidal killing of Indo-US family due to the financial crisis , he became a pauper , has shaken not shaken the Indian community in US but also the Indian economy .
Financial crisis affecting 8 out of 10 US citizens , the crisis which has began from US is like a octopus spreading its tentacles to engulf more countries

The situation is very tragic in US , its only the tip of ice berg which we have seen , and the show is not over yet .
Naresh M Gehi, an attorney who handles bankruptcy cases, however, differs in the extent to which the Indian American community is affected by the economic turmoil.
“Indians are generally very conservative and think twice before they spend, so the impact on them is not as severe as felt by other Americans. But yes, big players have suffered big losses,” he said.

Do reply with ur comments on the situation ....?

These are hard times undoubtedly.........
ICICI is one of the severely hit and there is speculation if the situation worsens upto a certain extent it might go bankrupt......But the banking system of India is strong enough so that those who have invested in the bank might not worry too much....

higa wrote:

QUOTE:

Naresh M Gehi, an attorney who handles bankruptcy cases, however, differs in the extent to which the Indian American community is affected by the economic turmoil.
“Indians are generally very conservative and think twice before they spend, so the impact on them is not as severe as felt by other Americans. But yes, big players have suffered big losses,” he said.

Do reply with ur comments on the situation ....?

i think Naresh M Gehl is right, Indians are smart and invest smartly.

i think Indians in US might be smart but In INDIA i dont , feel the same ..

but in India the problem is not the same...

Sometimes we believe in some recommendations and play blind in stock market this is where we lose ,,!!