'It's a Criminal Waste of Taxpayers' Money'

Mon Sep 2 18:05:25 2002
Name:ananthakrishnan
Email:anantha_kp@hotmail.com
Your Views:it is really a encouragable aspect that people doesnot lose faith in government governed funds

Mon Sep 2 21:42:07 2002
Name:B.P.Satish kumar
Email:satibp@yahoo.com
Your Views:Governance:Indian governance and politics is in a very strange situation.The ruling party due to its long tenure in opposition has to master the art of governance and the main opposition party due to its long run in the government has to master the art of opposition. I am afraid it will take some more years to both the parties to master the rule and come above partyline and take the country forward.

Tue Sep 3 00:36:35 2002
Name:B.V.Rao
Email:bvrao80@rediffmail.com
Your Views:The investors have already lost confidence in UTI.No bailout will workout. It is a clear case of mismanagement and lack of forethought. This bailout, is another futile exercise.

Tue Sep 3 11:14:08 2002
Name:Rajesh Sarma
Email:rajesh_sarma1@rediffmail.com
Your Views:It is a criminal waste of the tax payers' money. It is not the first time that such measures are being resorted to by the Govt. It is indirectly protecting the crooks who are responsible for the fiasco and will encourage them in committing more of such frauds. The Govt. should instead apprehend the crooks and recover the money while bringing them to book and making them responsible for their actions. This will ofcourse require a lot of political will. This will also go a long way in restoring investors' confidence in both, the Govt. of India as well as the markets.

Tue Sep 3 13:48:34 2002
Name:kesto
Email:undisclosed_recepient@rediffmail.com
Your Views:politicians r bloody courupt,kick them first

Tue Sep 3 15:33:04 2002
Name:Seshadri das
Email:seshadri_das13@rediffmail.com
Your Views:This type of bailing out is only a face saving measure .Though there are many investors whose hardearned money is involved so this is I think is a good decision on part of the Government but it should also ensure that this is not repeated.

Tue Sep 3 16:24:55 2002
Name:vijay Thorat
Email:general1420002@rediff.com
Your Views:I am of the openion, that the bailing system adopted by the government is in their intrest.Government is least intrested in the intrest of the tax payers money,it is a mokery of tax payers. god bless these politiations

Tue Sep 3 17:05:43 2002
Name:Chiranjit Banerjee
Email:ceo@crisasia.com
Your Views:If the government is serious about distancing itself from cronyism, former UTI staff who were suspected of corrupt practices ought to be tried under suitable provisions of the penal code along with the owners of the companies they patronised. In China, corrupt public officials face extermination squads every other day. This move is a populist gesture by Jaswant Singh to stem the tide of the anti-BJP wave that is now enveloping the country. If the UTI bail out is any indication, taxpayers ought to brace themselves for similar concessions to the profligate IFCI followed by IDBI. Sadly, the highly paid managers of ICICI are only marginally better than IDBI and IFCI in their performance. Which begs the question if privatisation is indeed the panacea for all our evils. Look no further than the once blue-chip utility, CESC of Kolkata, which has been emaciated by the profligacy of the R P Goenka group. In India, the private sector more or less mirrors the worst practices of the public sector.

Tue Sep 3 18:11:31 2002
Name:Sankar
Email:durgashankar@vsnl.com
Your Views:The government has no business being in the mutual fund. Thses are risky areas where the results are not predictable. If the fund does well nobody will complain, but if it fails everybody will blame the government and the management. After the bailout package it should get out by selling out its stake in UTI.

Mon Sep 2 21:42:07 2002
Name:B.P.Satish kumar
Email:satibp@yahoo.com
Your Views:Governance:Indian governance and politics is in a very strange situation.The ruling party due to its long tenure in opposition has to master the art of governance and the main opposition party due to its long run in the government has to master the art of opposition. I am afraid it will take some more years to both the parties to master the rule and come above partyline and take the country forward. with regards satish

Tue Sep 3 19:43:06 2002
Name:rahul
Email:rahul@yahoo.com
Your Views:no this is a foolish plan

Tue Sep 3 20:21:11 2002
Name:vishal
Email:conect_vishal@yahoo.com
Your Views:simply bailing out (by giving money) any institution without any proper plan will never help .government should have a concrete plan and must see that pleople's confidence is not lost in this schemes.

Wed Sep 4 04:51:37 2002
Name:worried kumar
Email:worried@hotmail.com
Your Views:"india ki befkoofiaan india hi jaane" india has to think quick within 24 hours to solve any major issues including investments to avoid things like this.i dont think there is any single person who in india is visonary and can think very fast.all people starting from vahpayee & admani down to ordinary people are dumb and slow thinker.(when ever they take step it is always the dumbest).there is great possiblilty that this thing will happen again (i.e bailing out uti, crickters, veerapan, enron, bhopal gas tagedy etc.)

Wed Sep 4 09:38:16 2002
Name:S.Ray
Email:sdray@rediffmail.com
Your Views:The money that could be used for general social development - in the education, healthcare & basic infrastructure of this country is "gifted" to institutions like UTI. And there are many more such institutions in this country, ready to stand with begging bowls whom the govt will surely oblige. Is no one going to be held responsible & punished? Is no one accountable in these institutions & government?

Wed Sep 4 11:27:26 2002
Name:V.padmasini
Email:panamu@rediffmail.com
Your Views:bailing out institutions like the UTI should not be repetitive.they are only steps to increase laxity on the part of the institutions , and to continue erronous investment decisions. it emboldens the institution as it knows that at the time of crisis the govt. will readily come to its help. of course from the view point of the public, the step of the govt. is good. if not bailed out many of UTI's investors may have to lose out on their investments. the step of the govt. is mainly to retain the confidence of the public in their financial institutions.

Wed Sep 4 13:59:47 2002
Name:K.Vanajakshi
Email:vanajaas@rediffmail.com
Your Views:Govt.should not bail the UTI each time it is in trouble.People will take it for granted that no matter how worse the things go,govt. is there to give back their money. It is better to privatise UTI since it is a mutual fund and reqires constant monitoring of funds and taking correct timely investment decisions which will be best served in a private organisation.

Wed Sep 4 15:03:59 2002
Name:Vivek Sharma
Email:viveksharma020@indiatimes.com
Your Views:The bail out package announced by the government can at best act a temporary relief for UTI.The problem in UTI lies somewhere else.UTI was doing quite well till the time there was no competition in the market and it was acting as a monopolist.At this juncture it was acting as a virtual monopolist which was able to swing the market as per its dictat. However as the economy started opening in the early 90s and new players arrived in the market,UTI's fortune started nosediving.Coupled with this was a series of bad investment decisions take by UTI investement board.The companies where UTI has invested without studying the fundamenatals of the same,started giving negative returns.Many of them went sick as well.Not only this UTI invested in companies like Reliancee when its price had already touched highest. Bail out package is not enough in itself.There is a need to make the proceedings in UTI more transparent.All the decisions taken by the board/trust, looking after investment decisons,should be properly scrutinised.Also UTI should be made come under SEBI's perview.Also when UTI starts making a come back and earns money on its own,it should return the money to government.

Wed Sep 4 16:21:00 2002
Name:Amitava Sen
Email:amisen@rediffmail.com
Your Views:1. We must forget that the govt is a seperate entity. It is of, by & for us. Every citizen must be more proactive in its running rather than washing its hands as soon as the vote is cast. 2. Instead of bailout after it has failed the govt should take steps so that institutions like UTI does not fail. 3. Do we taxpayers really have any say about how our money is wasted or do we have any control?

Wed Sep 4 17:18:55 2002
Name:Kolhatkar M.H.
Email:kolhatkarmh@yahoo.com
Your Views:I think Bail out will not help. The mess created by various Chairmen cannot be rectified overnight.

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