D MuraliHaircut vs. Headcut1×0:00Current time: 0:00 / Total time: -1:39-1:39Audio playback is not supported on your browser. Please upgrade.Haircut vs. HeadcutThe mechanics of the ‘Sudden Stop’D MuraliMar 25, 2026ShareTranscriptIf you’ve ever wondered why certain hedge funds are nicknamed ‘vultures,’ or how a naval ship becomes a legal hostage, this is the definitive breakdown.Read the full analysis here: The Headcut - A Fiscal Drama in Three ActsDiscussion about this episodeCommentsRestacksD MuraliJournalist, CA.Journalist, CA.SubscribeAuthorsD MuraliRecent EpisodesThe AI Secretary: Restoring the Last Mile of DemocracyMay 18 • D MuraliThe 5 AM Revolution: Can a Milk Route Save the City?May 16 • D MuraliThe Electricity Chokepoint: Patching the ₹1.11 Lakh Crore SinkholeMay 16 • D MuraliThe TASMAC Dilemma: $6 Billion Revenue vs. The “Shylock” Governance Rot May 16 • D MuraliUnlocking the Paperweight: Curing the Sunday Drift with a 10-Rupee Micro-ContractMay 15 • D MuraliThe CM as CEO: A Forensic Playbook for the First 100 Hours May 14 • D MuraliThe Ultimate ExoscopeMay 13 • D MuraliThe Fiscal IcebergMay 13 • D Murali