We all know that in the Bollywood movies, the police always comes in the end. Ditto for financial markets, too.
SEBI Act was passed by the Indian Parliament after the debacle of 1992. It was only after the scam was unearthed, that the act was passed, though SEBI (Securities and Exchange Boards of india – the regulator for securities markets in India) was set up in 1988.
Even in the US, after the great market crash of 1929-1933, SEC (Securities Exchange Commission – the securities market regulator) and FDIC (Federal Deposit Insurance Corporation – the corporation that insures bank fixed deposits).
The only difference between a movie and real life is that while in the movies the police comes after the villain has been beaten up by the hero, in reality it is the common investor who gets bashed up before the police arrives.
#RidingTheRollerCoaster – 155