Greenspan's Body Count goes to India
This is one of the most under-reported stories in the Western press. There's an absolute epidemic of debt-suicides in India. Most weeks, multiple Indian debt-suicide stories cross my desk.
Three members of a weaver family who could not repay a loan they had taken to invest in share markets committed suicide in their house in Madurai district on Sunday morning.
The deceased were identified as Krishna Ram (51), his wife Brinda (46) and their son Upendiran (28) of Meenakshi Nagar in Sourashtra Colony near Vandiyur. Krishna Ram and Brinda were handloom weavers, and they and Upendiran ended their lives by hanging from the handlooms installed in the house, police said.
Upendiran, who completed an undergraduate degree, had invested in share markets along with a few of his friends. The losses he suffered when the markets fell forced him to borrow money from loan sharks. As the family members did not have any other source of income to repay the loan, they might have decided to commit suicide, police said, adding that the exact amount they had borrowed was yet to be ascertained.