Saturday, January 9, 2010

2010 : year of financial revival or financial mess

First of all, I wish everybody a very Happy and Prosperous New Year. 2010, said bye to the first decade of the 21st Century, a decade which was filled with lot of financial downturns and revivals.The decade started itself with Y2K knocking at the doors, everybody in the industry thought that every system which are connected will be doomed, but Y2K surpassed, without creating much waves. But people failed to realize what coming after that, the tech bubble. The 2001-2002 tech bubble took everybody by standstill, and most of the internet startup, even some established brands, were out in the open, filling for bankruptcy.So, start of the decade, itself seen one of the biggest financial debacle.

But as the time moves on, financial stability also props into financial and banking system, but what analyst did not forecast was much bigger bubble. The bubble which did not only tore apart financial and banking stability of one country, but literally affected every country in the globe, in financial community call it as Sub prime Crisis. During these crisis, some of the world's top notch banks went bankrupt within days, which led the whole world economy into doldrums. This financial debacle raised fingers on the financial regulators and their working.

Though, by later half of 2009 things have improved quite a bit, but still its a big question, whether 2010, will be a year of financial revival or will it be again a year of financial mess. Though, people are saying, they have already see a light at the end of the tunnel, so lets wait and watch, how their prediction end.

Mohit Kumar