Perhaps it was only inevitable but it looks like the whole Occupy Wall Street sentiment has made it to the Dhaka Stock Exchange – see here. There was always a time lag – what the French call “decollage horraire” – between fads and fashions reaching Bangladesh but by all accounts there is real anger against the bankers who mucked it up for us all in Bangers. While the eyes of the rest of the world are on Greece, the Bangladeshi case makes an interesting example. The article is mixed about whether it is lack of regulation or individual actions which have ushered in the current economic turmoil. “When the market was going up, the greed factor was working for individuals,” one person is quoted as saying.
At St Pauls the question “What would Jesus do?” has been posed. The near-collapse of worldwide economies built on speculation shows the instability of hypercapitalism. Co-opreative and mutual solutions must be what comes next. Referring to Nobel prize winning micro-credit financier Muhammad Yunus of the Grameen bank perhaps the question for the Dhaka stock exchange the question is “what would Yunus do?”