Thursday, January 15, 2009

Saving Satyam...at whose cost?

I was taken aback by the Indian government decision to flush in 2000 crore Indian Rupees to save Satyam IT limited. Government was in fact acting hurriedly in taking over the Satyam IT limited themselves. This highlights involvment of top government officials in the scam and now they are trying to hide themselves from the one of the Great Indian Shame of the century.

Our prime minister says that this will save us from the corporate shame in the eyes of other foreign countries, but at whose cost...Being the part of the scam the individual politicians, including state and central ministers along with auditors and directors of Satyam would have made a lot of money then (When the founder and CEO resigned the company following a confession of cooked up accounts, he held only 5% of stake in the company! ). Now politicians want to save the self destroyed corporate image usign the tax payers hard earned money.

Why should we, the tax payers of the country bear the burden for a bunch of selfish crooks affected by the virus of greed?

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