As you all probably know, I know next to nothing about Economics, and look with a jaundiced eye upon the people who are in the business of making money. If anyone is to blame for the Satyam Scam, it is those who play the market first of all. Without all that hypercapital, Raju wouldn't have been able to do what he has done. So much for idiot sense.
Here is what Pradhan, former Head of worldwide Sales in Infosys, has to say at 6 AM Pacific :
Among other things, Pradhan says, "I find it hard to believe that this fraud was committed to inflate earnings. If that were the case, the Rajus would have sold at least some of their stock. Did they believe that this was going to continue forever?," and asks where did all that money go?. He wants justice: "It would be a downright shame if at the end of this, just one person gets a light sentence and $1 Billion, or whatever part of it is truly missing, is never recovered," which is fair of course.
In the comments to that article I found Satya saying, "Satyam’s case is not one in a million; rather it is very much practiced in many Indian IT services companies. As some wise man has said it – “You are not a thief as long as you are not caught!” As far as I know, there are many following various corrupt practices and hopefully, this incidence will do some soul searching. "
People, wake up! Not Intelligence or Industriousness or Innovation, but it is Integrity that keeps you in business in the long run.
http://www.free-press-release.com/news/200706/1182919752.html
ReplyDelete"As you all probably know, I know next to nothing about Economics..."
ReplyDeleteBas, I never heard a truer word from you.
Now, why don't you keep your mouth shut about what you don't know? What you have written here is embarassing twat.
I bet you can write about pelican droppings and
Martian Eructations...
Why don't you try that- it would make better sense than this.
"If anyone is to blame for the Satyam Scam, it is those who play the market first of all".
Are you the one writing speeches for Dubya?