Just like our fashion industry is affected by US trends, so also is our financial industry. Whether it is relevant or applicable is not material. If it affects US citizens then it should affect us since we are a major economy having all the ills of a developed economy.

In the medical field it is no longer fashionable to talk about malaria or TB or leprosy, but, instead, obesity and cosmetic surgery. So also in our financial system irrelevant issues are focussed upon and inconsequential matters occupy the centre-stage with the participants not knowing what they are talking about.

The sub-prime is the current fashion and even my milk-man, when queried the other day why he was late, answered that it was due to the sub-prime crisis.

The sub-prime (mortgage) crisis is an ongoing economic problem, manifesting itself through liquidity issues in the banking system owing to foreclosures which accelerated in the US in the last two years.

The background

The term sub-prime......

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Title: India And Subprime
Approximate Word Count: 1258
Approximate Pages: 6 (250 words per double-spaced page)

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