Fun of Ignorance

Fun of Ignorance Nishtar MORARJI Desai is reported (by a financial daily) to have stated in his inaugural address at the diamond jubilee celebrations of the Calcutta Stock Exchange that "If the purchaser dues not pay and the seller does not deliver the shares, the transaction should be treated as null and void". One might have dismissed it as a case of misreporting if Morarji had not made almost similar observations in May last. The occasion then was the laying of the foundation stone of the new building of the Bombay Stock Exchange and what he said, apart from many other ridiculous things, was that "It is wrong for anybody to sell shares when he is not possessing a single share".