Sen, chairman and managing director of Saradha Group, said he owned 160 companies. About 15 operated as real firms, Sen’s lawyer Samir Das says.
Unlawful deposit companies proliferate in India. Saradha took in at least $200 million based on preliminary figures, Sinha says. Actual numbers may be bigger, he says. Such firms have raised a total of more than $2 billion, Sinha estimates.
Once again the proponents of the nanny state style look to government to ensure people can trust those organizations they use as banks. As we all know, people don’t need a nanny state to solve their problems. People should just do their own research and examine the banking enterprise to see how reliable they are, and whether they are using questionable methods similar to a ponzi scheme.
It is no surprise the nanny state can’t keep up with all the fraudsters. People should just watch out themselves and not seek protection from the nanny state.
Those who can’t get enough of the government coddling us think we should be able to rely on sidewalks not to swallow us. The video shows a girl talking on her cell phone in Northern China and having the sidewalk give way underneath her. She fell 6 meters (about 20 feet) but was rescued and didn’t suffer and significant injury.
Those against the nanny state know that a relying on the government to protect us just leads to people not taking the proper precautions and expecting to be free from risk. We shouldn’t expect our nanny government to protect us. We should grow up and stop relying on things like sidewalks that don’t swallow us. That so many of us expect sidewalk to support us just goes to show you how widespread the savior nanny government idea has penetrated.
Those of us tired of nanny state safety like handrails to stop someone from falling off a stairway will be happy to see this example that doesn’t constrain us with safety that isn’t needed. Who doesn’t know how to stay on a stairway?
No nanny state handrail present here.
Here is a view from the other side. They do have a bit of nanny statism with the handrails on one side. But really given how most countries are so nanny state driven that they have handrails on both sides of stairways with this large a drop onto concrete I think having one handrail can be forgiven. The red box is about where the missing railing is: on the other side of the stairs.
View of the side of the stairway that does have a railing. Danga City Mall is in the background, Johor Bahru, Malaysia.
In general, Asian countries are much less overrun with nanny state controls than the USA, Canada and Europe.