Run on the bank!

It's been a very odd 48 hours.

That of course aside from the fact that I've temporarily relocated to Hyderabad, India and all of the associated goings on therein. Since I arrived at the office at 4:30am EST Monday morning I've witnessed the death bailout bill and the ensuing 7% drop in the Dow.

Moreover, here in India there are rumors circulating that the one of the country's largest banks, ICICI, is on the verge of bankruptcy. As such, lines have been snaking from ATM machines since the rumor began circulating yesterday. As I understand it, this is intensified in the Deloitte building as all Deloitte payroll checks for personnel in India are direct deposited into ICICI per a direct depositing agreement between the companies.

On top of that, the ATMs only allow people to withdraw 25,000 rupees a day (about $530). Furthermore, today marks the first day in which year-end raises go into effect in the Indian payroll deposits. As of 9am IST press releases had already hit the Indian CNN news wire attempting to quell the rumors and prevent what could very likely become a fatal run on the bank. Considering the stakes, the scene around the office has somewhat of a Great Depression vibe coupled with an odd sort of fascination.

It's now around an hour from the opening bell on Wall Street (or what's left of it in the aftermath of the investment bank era), and the market could be poised for another fire sale. Despite this, I feel very removed from the econcomic meltdown in the US. Maybe that's because you are naturally more in tune with your surrounding environment, economic or otherwise, than where your interests may lie. Perhaps the old moniker, out of sight out of mind is appropriate?

Then again, the feeling may just be the result of the biriyani for dinner and roti for lunch, neither of which has provided me with enough energy to totally shake the jet lag.