Dummies Guide to the recent Financial Turmoil

If you don’t have a clue why the financial markets are tumbling down, indexes crashing and job cuts everywhere, I just found a Dummies Guide to the recent crisis gripping the markets. Doug Diamond and Anil Kashyap posted an awesome write-up on the New York Times Freakonomics blog. I call it a ‘dummies guide’ because anyone can easily understand the causes and effects as the authors did a wonderful job dissecting the roots with a lucid explanation. And I understood.
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The iPhone was finally released in India. I believe it never lives upto its tagline, "twice as fast, half the price". Here’s why. The pricing is very steep & it doesn’t fit the bill in the sensitive Indian market context. A jail broken iPhone is available at 20,000 INR in the grey market sans the support while the iPhone is available through only 2 operators, Airtel and Vodafone, at 31,000 and 36,000 (INR) for the 8GB and 16GB models respectively. Let alone the hundreds who buy it for hype, the status and ‘cool’ness factors, why bother buying a 3G phone when India doesn’t have a 3G network at all! Also, there is no iTunes store for India.