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Friday, January 23, 2009

Fresh woes

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The year 2008 started with downslide in stock index and ended with Madeoff. The new Year has begun for India with Satyam fiasco.

clipped from
Madoff and Raju Made off

One may walk the way with a lantern in his hand and still fall into a ditch.

The sudden disclosures about their fraudulent dealings in late December 2008 and first week of January 2009 made Madoff and Ramalinga Raju overnight notorious.

From Fairfield Greenwich Advisors, $7.50 billion; Royal Bank of Scotland Group PLC; BNP Paribas, to AXA SA. The loss totals to some $22.32 billions.

the whistle-blower

Satyam got involved with Maytas, construction and infra-structure companies of his sons. Raju did announce to the world that he was going to misuse Satyam funds by creating a company with a name that is the reverse of Satyam-Maytas.


This only brings to my mind the play by Ayn Rand, "Night of January 16th."

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