OF THE
TIMES
"Evil requires the sanction of the victim." Ayn Rand"The other day in my perusings I stumbled upon this troubling jewel:
Not only do Indians perform more Google searches for (Ayn) Rand than citizens of any country in the world except the United States, but Penguin Books India has sold an impressive number of copies -- as many as 50,000 of Atlas Shrugged and The Fountainhead each since 2005, a number comparable to sales there by global best-seller John Grisham. And that's not counting the ubiquitous pirated copies of her works that are hawked at rickety street stalls, sidewalk piles, and bus stations -- an honor that Rand, a fierce defender of intellectual property rights, probably would not have appreciated. Foreign PolicyTo put this information into some perspective I would ask you to read a paragraph from Wikipedia:
The World Bank estimates that 456 million Indians (42% of the total Indian population) now live under the global poverty line of $1.25 per day (PPP). This means that a third of the global poor now reside in India.(...) India has a higher rate of malnutrition among children under the age of three (46% in year 2007) than any other country in the world.Now into that context, to see what Indians are so eagerly googling, let's mix in the following sayings of Ayn Rand, which though few, hopefully give the full flavor of her "Objectivist" philosophy:
The sums involved might have been huge. Barclays was a leading trader of these sorts of derivatives, and even relatively small moves in the final value of LIBOR could have resulted in daily profits or losses worth millions of dollars. In 2007, for instance, the loss (or gain) that Barclays stood to make from normal moves in interest rates over any given day was £20m ($40m at the time). In settlements with the Financial Services Authority (FSA) in Britain and America's Department of Justice, Barclays accepted that its traders had manipulated rates on hundreds of occasions.The Independent notes that potential liability from the Libor suits could wipe out Barclays, RBS and other banks ... and that the big banks have taken inadequate reserves against litigation risks.