A board of directors that doesn't care?

As an investor, would you invest in a company whose board of directors does little else than bicker about each other and which spends little time on deliberating on the business of the company? Then why should you, as a citizen of the country, tolerate recalcitrant and irresponsible behaviour by political parties who refuse to discuss the Finance Bill?
If lawmakers pass laws on grounds other than pure economic sense, it stultifies economic potential.And thus restrains the stock market.
Consider, for example, telecom. Growth in customer acquisition for mobile telephony has slowed down, to 4 per cent in July, versus 17 per cent in May. TDSAT has asked Trai not to intervene in settling disputes but only to make recommendations for telecom deregulation.
Consider allocation of spectrum. Governments around the world have treated spectrum as a scarce resource, allocating it to players on payment of high fees, which served as a revenue source. However, as pointed out in an article (Economist, Aug 14), interference is not a physical problem but always was a technological problem. Four new technologies are changing that. Suddenly spectrum becomes non scarce, and policy should allow its proper usage as ''commons''.
In other industries, too, it is the same; mindless action that stultifies industry. Gail was considered to be the sole agency for building the 8,000-km inter-state network of pipelines. The government has now thought it fit to allow competition, which will result in duplication, instead of giving rights of usage for a fee, on a single network. Gas pipeline business is different from telephony, because there are limited technological advances in it.
Last week, Sensex climbed 53 points, to end at 5,117, on account of easing oil prices. A further rally could be taken as chance to lighten up. At least until politicians learn to do what they are being paid to do.