First, get hold of Justin Cartwright’s novel Other People’s Money. Okay, it’s fiction. But it’s very readable. And you’ll find that the story, which revolves around a failing London bank, provides an enjoyable introduction to why financial institutions collapse, and how rich bankers, powerful politicians and influential journalists conspire to prevent the bank from crashing.

Justin Cartwright’s story also mentions Bhutan – not as the land of gross national happiness, or as an up and coming financial centre, but, interestingly, as a refuge for the mysterious yeti!

Second, download Getting up to Speed on the Financial Crisis: A One-Weekend-Reader’s Guide by Gary Gorton and Andrew Matrick. This paper, also quite readable, is a summary of 16 other documents, and explains what happened during the financial crisis 2007 – 2009.

The one-weekend guide also has a Bhutan connection. The paper was recommended by Dorji Wangchuk on one of his many informative tweets. Dorji Wangchuk is an economist and financial expert working in the UK.

Double the joy

Earlier today, twin sisters Sonam Lucky and Lucky Wangmo married twin brothers Nima Dorji and Dawa Wangchuk in a double wedding.

How rare is that? Very rare. Facts About Multiples, an online encyclopedia of multiple birth records, has recorded just 28 instances of quarternary marriages i.e., twins marrying twins.

How cool is that? Very cool. Many guests talked about the double wedding as a spontaneous opening act to the much anticipated Royal Wedding that we will celebrate in October this year.

Congratulations!

Absolutely right

In their editorial last Sunday, The Journalist warned us that “Power Corrupts and Absolute Power Corrupts Absolutely”.

Their editorial, and the quote about how power can corrupt, reminded me about a conversation I had with a friend of Bhutan several  years ago. This is how she explained the context of the quote by Lord John Emerich Edward Dalberg-Acton, an English historian and the First Baron of Acton (1834-1902):

In 1870, the Catholic Church entered a crisis over Vatican’s promulgation of the dogma of “papal infallibility” — the dogma in Catholic theology that, by action of the Holy Spirit, the Pope is preserved from even the possibility of error, when he teaches faith or morals in the context of divine revelation.  

Lord Acton was a devout Catholic.  He went to Rome to fight against the dogma of papal infallibility, but failed.  It was in this context that, on April 1887, Lord Acton made his famous statement in a letter to an ecclesiastic scholar Mandell Creighton: 

“I cannot accept your canon that we are to judge Pope and King unlike other men with a favourable presumption that they did no wrong.  If there is any presumption, it is the other way, against the holders of power, increasing as the power increases.  Historic responsibility has to make up for the want of legal responsibility.  Power tends to corrupt, and absolute power corrupts absolutely.  Great men are almost always bad men, even when they exercise influence and not authority: still more when you superadd the tendency or certainty of corruption by authority.  There is no worse heresy than that the office sanctifies the holder of it. “

This friend of Bhutan carries considerable influence and authority herself. And she explained that knowledge of this story could be useful in any fight against those who abuse authority and misuse power.

And for good measure, she added:

I have met only one man in my career who quoted the much misquoted quote accurately, word for word:  His Majesty the Fourth Druk Gyalpo.

I saw Rajesh Gurung’s Punakha Dzong at the VAST gallery. It’s still there if you’d like to see it. And so are many other paintings, all by Bhutanese artists. I’ve uploaded photographs of a few of the paintings to tempt you to visit the VAST gallery.

Enjoy …

Yesterday, near Tergola

We walked from Sipsoo in Samtse through Sombaykha, and arrived in Dorikha in Haa yesterday. I couldn’t go online during the entire journey, as I couldn’t connect to B-Mobile’s signal. Their cellular signal was generally unavailable and in the few places that I could connect to B-Mobile, their signal was weak, and data transfer impossible.

It wasn’t like this last year. Then, when I traveled through the same villages, I’d been able to connect to B-Mobile and go online through most of the journey. And I’d celebrated their coverage in Connecting Bhutan.

This time I couldn’t blog or tweet or update my Facebook status. I couldn’t even make phone calls. So I’m sorry for not staying in touch. And I’m grateful to the several readers who have kept the discussions on this blog going.

But connectivity in this remote part of Bhutan is actually still very good. The difference is that now it is powered by Tashi Cell, not B-Mobile. So if you go to Sombaykha or Gakiling, remember to carry a Tashi Cell subscription. I certainly will.

I’m in Dorikha enjoying a crisp winter morning, indulging in my aunt’s hospitality, and making full use of the first B-Mobile signal I’m receiving in days.

Am back in Thimphu later today.

Super stars

I’m back in Thimphu having completed my medical treatment (I’m fully better now), and after visiting Bumthang where, thanks to His Majesty’s People’s Project, the victims of the recent fire disaster in Chamkhar town and the town itself are already well on they way to a full recovery.

The banner features MPAB artists entertaining RBA soldiers involved in the reconstruction of Chamkhar. The artists also performed for the residents of Chamkhar. And, a day after arriving in Thimphu, they organized a fund raising event at the Clock Tower Square.

Foul fowl

“Spelling bee” generated a lot of discussion. Almost all of it was good. The debate was lively. And most of the arguments were presented convincingly.

But a couple of commentators got carried away. They started swearing, in English and in Dzongkha. This is unfortunate. And unnecessary. You don’t need to curse to drive home your point. So please, no swearing. No unnecessary expletives.

Henceforth, I will exercise my option to censor comments that are abusive.

My broken jaw has been corrected by way of a metal plate that now holds the fracture in place. But my jaws have also been wired shut to allow the damaged bones to heal properly. So till the wires come off – which will be in about five weeks – I’ll be speaking through clenched teeth. And subsisting on a full liquid diet.

I’m grateful for the many emails and messages that I received during the last two weeks. Your good wishes, support and prayers have helped me recover from that nasty biking accident quickly and remarkably well.

I’m back. And I thank you very much.