The name is ‘Satyam’ and a scam of 7000 crore. Yes, as many of our many readers would be aware, we are talking about Mr. Ramalinga Raju the CEO of the largest IT company having done a scandal of 7000 crore rupees and given further hiccups to already crisis ridden Indian economy.
The incident has left our government and media with no other option but to shed tears because he is the same ‘Raju’ whom they projected as youth icon before two years and today are compelled to initiate a CID inquiry against him. Our all market analysts and intellectuals are also appearing as if they are shocked with this incident. But is there anything really shocking! Satyam, Wipro, Infosys and all other such companies, which comprise of about 80 percent of economy, are not involved in any productive sector. They make an annual turnover of thousands of crores just with selling and buying of their shares. The more you make the market opinion in your favor the stronger you are. This making of market opinion is the basis of today’s global capitalism. Until and unless you are not caught while ‘building this opinion’ you are the ‘hero’ of the market, when caught you fall to ‘zero’. Raju has met with the same end.
Another class of people who are shouting their slogans and pleading for mercy from the government are the small investors. Until the market is on a rise they invest hugely in these unproductive sectors and try to make maximum money by doing anything. As they have enjoyed their days of fortune by doing nothing they should be shown no mercy but allowed to bear the brunt. This might make them to refrain from game of gambling next time.
Another important aspect of this incident, which is being completely overlooked by the media, is the kind of treatment shown to Mr. Raju having committed a scam of thousands of crores, he is being given all sorts of assistance by the police, and the lawmakers. Had a man caught for stealing a piece of bread or Rs 10, received the same treatment?
The incident has left our government and media with no other option but to shed tears because he is the same ‘Raju’ whom they projected as youth icon before two years and today are compelled to initiate a CID inquiry against him. Our all market analysts and intellectuals are also appearing as if they are shocked with this incident. But is there anything really shocking! Satyam, Wipro, Infosys and all other such companies, which comprise of about 80 percent of economy, are not involved in any productive sector. They make an annual turnover of thousands of crores just with selling and buying of their shares. The more you make the market opinion in your favor the stronger you are. This making of market opinion is the basis of today’s global capitalism. Until and unless you are not caught while ‘building this opinion’ you are the ‘hero’ of the market, when caught you fall to ‘zero’. Raju has met with the same end.
Another class of people who are shouting their slogans and pleading for mercy from the government are the small investors. Until the market is on a rise they invest hugely in these unproductive sectors and try to make maximum money by doing anything. As they have enjoyed their days of fortune by doing nothing they should be shown no mercy but allowed to bear the brunt. This might make them to refrain from game of gambling next time.
Another important aspect of this incident, which is being completely overlooked by the media, is the kind of treatment shown to Mr. Raju having committed a scam of thousands of crores, he is being given all sorts of assistance by the police, and the lawmakers. Had a man caught for stealing a piece of bread or Rs 10, received the same treatment?
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