Tag Archives: Business and Finance

150 Years-Madoff

A century and half  has been granted for  71 year old Madoff by the court of Justice. The swindler was sentenced to spend the rest of his life in prison.A man’s life span is normally 75  years. Madof f, if at all lives , can be moving about for 4 more years. Where is the meaning for 150 years. The pronouncement , judiciously sounds permeable , but in actuality seems far from reality. the long imprisonment  is not going to happen . The judge, who  rejected his bail plea , has given the maximum punishment to the author of the extraordinarily evil Ponzi scheme  

Debating the issue of imprisonment, we come to a closer scrutiny of the scheme. The veiled  Madoff scandal, if lifted will throw many skeletons from the lockers. The shrewd hypocrite has subtly targetted the vulnerable  points, such as greed, fragility, over enthuisam of the investor. The  investment sentiment  has been thoroughly exploited by this devilish scheme. A relaxation , an easy mode of deliverance, a quick short time multiplication, an increased feeling of security, and the cajoling procedures  have manipulated extensively the faith of the investor. The funds poured in and  has disappeared in same acceleration.

Madoff rejoiced.Madoff reeled in wealth.Madoff maddened everybody, once when his trachery got exposed. Most have lost everything they had. Many have  been fooled . Madoff has accepted his crime and has expressed his regret. He says , he is sorry about the whole affair.

Remorse and regret are fine sentiments the world will acknowledge. To err is human , to forgive is divine goes the maxim. But the hopelesness is hard to cope up. The tears welling up in each and every eye of the participant of the Ponzi scheme , are evidences of  the horrondousity of the tale. The haplessness of thousands of people remains unanswered. Ripping him off of his wealth and funds , is a minor way of appeasing the tormented mind. The truama is hard to be effaced. The sentence ,could have been off a different strata, instead of this century and half.

The Ponzi scheme , has brought to light the  metabolism of the  conniving deceit. It has laid bare the fact of thorough ill conceived materialistic  pursuits , which lead to a gross evaucation and torrid  infringement. 

Satyam -Conscience =Raju

Ramalinga Raju has resigned from Satyam Computers. He is the author of inconsiderate  delivery, infidel attributions ,insincere associations,and incongruous methods.

He has done much harm to India.His confession that balance sheet at September 30/2008, has inflated  non existing cash and bank balance of50.40 billion rupees, understated a liability of 12.3billion rupees and overstated  debtors position of 4.9 billion rupees .

It is a shame on Ramalinga Raju., who has made the announcement with “deep regret and tremendous burden that I am carrying on my conscience.”

Regret , burden and conscience- the three words carry a lot of impregnable interpretations.

Toying with integrity, rigging the financial ,squandering investor’s money, overhauling the personal stature, deriding the sentiments  and then move like a “Holy Cow”, signals a nasty ,notorious plague.

He is prepared to face the law of the land and consequences thereof.

Did he think once about his shareholders and 53,ooo employees , once , in times of pristine glory?

Never did he. The indifference to the investing community  by his emboldened attempt to transfer huge funds to the family owned subsidiary Mayatas has brought the ruin.

Now , what was the Board doing all these years?

What did the auditors scrutinise  all these years?

What did the accountants  account all these year?

What did  SEBI , the regulating body  watch  all these years?

We have to conclude , that not only Ramalinga Raju knew about it, The Board ,whose members come from a high profiled background were well aware of it, the auditors have professionally lent a helping arm, the accountants have contributed their might , in cheating the investor in particular and the public at large.

What did they avail for rendering such ignominious services?Must be a handsome reward for expressing sacrilegious lies.

Kitties  got filled up. Honesty got dried up.

Strange are the ways of getting rich. This is the behavioural tendency of the “Nouveau Riche.” A traditional rich  will act with reverential morality and dutiful righteousness.