It happened sooner than I thought.

Yesterday’s WSJ made for some very interesting reading. Vikram Pandit of Morgan Stanely alongwith another major Indian executive were shown the door. Indra Nooyi was elevated to a higher but somewhat ceremonial post and I think she is not in the running for the top job at Pepsi anymore. Amit Jain of General Re was profiled in the context of the lengthening AIG/Berkshire investigation and I doubt if he will ever be considered to take over the reins from Warren Buffet.
Where am I going with all this? I think the much prophesized backlash against India has finally begun. Bubbles burst in completely unexpected ways. Remember 1998-99? Nobody predicted how the meltdown in the Asian economies would derail the American stock market bubble. Indian outsourcing and BPO bullshit are going to take a massive hit in the coming months. Buyer of Wipro, Infosys, Satyam beware!