Who are the real cronies?

This is not a good time to believe in markets. Indian icon Rajat Gupta gets arrested in the US for insider trading. The US economy is faltering and still not able to recover from the body-blow of the breaking down of markets. This has led Americans to question just where, and how, they went wrong. “That used to be us” is the refrain of thought leaders like Thomas Friedman. Europe has just gone through, sorry, is going through, a gutwrenching crisis of market governance.

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