The Satyam scandal: now what?
January 9, 2009
Posted at rediff at http://www.rediff.com/money/2009/jan/09satyam-scandal-now-what.htm
Like most of us, I am shocked at the enormity of the scam. And disappointed.
I supported Satyam and the promoters on principle: when an Indian company looks like it is doing good for its employees and for its shardholders; when it appears that the company has prospered by the sweat of its brows, then I support it. This is exactly what I did when I wrote the previous article.
Now that I know there was bad faith and fraud, I certainly cannot support the promoters.
I am also not particularly impressed by white people’s accolades or pats on the back, nor am I impressed when they make noise about others’ malfeasance.