On July 21, 2008, Hank Paulson, the then US treasury secretary, met around 15 major hedge fund managers at the offices of Eton Park in New York &mdash; itself one of the biggest hedge funds in the world. At least five of the 15 who attended were ex-Goldman Sachs, the firm that was headed by Paulson before he became the treasury secretary.

Shankar Sharma: Rajat Gupta - Less equal than others

Business Standard

Sometimes it takes an insider-turned-outsider to expose the rot within any system. The authors, both ex-bankers with decades of experience in China, are quick to point out that this book is not intended to be a shock expos&eacute; of the worms in the core of the Chinese financial &ldquo;miracle&rdquo;.

Capitalism steeped in red

For years, a wispy, gossamer dream has been spun by economists working for Wall Street investment banks about how China has managed the impossible: high growth with a very low debt-to-GDP ratio. The dream has been so aggressively sold that almost everybody believes it, including editors of this newspaper who have written glowingly about China&rsquo;s growth, how far ahead it is of India, how India should give up this race once and for all and so on.

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Shankar Sharma

Shankar Sharma

Page 2 - Shankar Sharma

Shankar Sharma: Rajat Gupta - Less equal than others

Capitalism steeped in red

Shankar Sharma & Devina Mehra: China's $22 trillion time-bomb