A dear friend of mine, Kiran Sreedharan, pointed out a great piece by Aadisht Khanna. AK says that this old parable of "the weaver and chariot maker is one of the Panchatantra stories that usually doesn't make it to primary school textbooks or Amar Chitra Katha, mostly because it's full of sex, war, and moral hazard".
Like most really great stories, this one is a cutting commentary on recent events in the US financial markets, and rip-roaringly hilarious because it is so true. Only, we are looking at that truth through the goggles of an old parable.
Aadisht writes a very interesting blog at wokay.in However, in my view, this ancient parable with modern analogies is something that puts most of his blog entries in the shade.
PS: 8 Mar, 2011
This page seems to have moved, but I found the same parable here. Obviously, this is an un-attributed lift, because this blog entry is dated after the date of this blog entry of mine.