Brain circulation

'Countries like India once fretted about a brain drain.We are learning now that brain circulation, may be more apt.'

So says this columnist in the New York Times, given the way how the Indian economy has begun integrating with the global one.

With Citibank now in line for a bailout, Friedman wryly hits home in his column:

'As one banker remarked to me: “We finally found the W.M.D.” They were buried in our own backyard — subprime mortgages and all the derivatives attached to them. '