Though it was anticipated, when the event happened it was combined with multiple jolting news. Lehman, Merill and then AIG starving for capital all said one thing ” Its Down”. Its no longer a sub prime issue or housing issue,..its all about main street issues which is that ” Is there a fundamental crisis ?” You bet !

What can the BRIC countries learn from this ?

Sustainable growth is more valuable than Greed based growth. Russia seems to be getting into trouble too. India and China should watch out before it is too late. Everyone is affected by the liquidity crisis in the Inter Bank systems. The key is jobs creation and investment into all infrastructure projects. Financial Institution will squareup all their issues and will start chasing viable projects.

So what if there is no Lehman and Merill in this world,..these institutions didn’t get it right with the changing scenarios. Anybody could have sensed the housing bubble in US but then they all said it doesn’t happen in America.