The NSEL and Saradha scams have the same roots. They are products of a regulatory system that asks buyers to watch their backs as they tread warily in the financial jungle. Notice that a progressive and peaceful civil society does not ask its citizens to rely on continuous self-defence and eternal vigil while going about their day-to-day activities. If policy makers dont see that financial sector transactions should be on the same footing, we would have lost the message sent out by two major scams in a space of just six months. The more we laugh at people for being financially illiterate, the more vulnerable we become to being taken for a ride by the system.
Posted on: Fri, 27 Jun 2014 07:12:09 +0000
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