Meltdown claims lives
The US meltdown has caused unprecedented carnage. Two days ago it claimed 6 lives.
Shocked at having turned into a pauper from a millionaire overnight by the plunging American stock markets, an unemployed Indian origin businessman took the extreme step of shooting and killing his wife, three children and mother-in-law, before taking his own life in Los Angeles.
Karthik Rajaram (45), who once made more than $1.2 million in a London-based venture fund, was found dead in his Porter Ranch home here along with his wife Subasri (39), mother-in-law (70) and three sons Krishna (19), Ganesha (12) and Arjuna (7).
Authorities believe Rajaram, an MBA, killed his family and himself after seeing his finances wiped out by the stock market collapse.
On September 16, Rajaram bought a gun. He wrote two suicide notes and a last will and testament. And then, sometime between Saturday night and last morning, he killed his wife, mother-in-law and three sons, and took his own life.
In a letter addressed to the police, Rajaram blamed his actions on economic hardships. A second letter, labeled 'personal and confidential,' was addressed to family friends; the third contained a last will and testament.
Image: The Wall Street sign outside the New York Stock Exchange. | Photograph: Timothy A. Clary/AFP/Getty Images
Also read: US economy: What Obama, McCain promise
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