Tuesday, June 30, 2009

Trust and Fraud

Today, Bernanrd Madoff gets lifer for his gigantic fraud/ ponzi scheme that hammered US Financial system. Madoff's fraud was discovered only 6 months ago - and verdict is already out with 150 years of punishment.

Perhaps, what Madoff is to US, founder of Satyam - B Ramalinga Raju is to India. Satyam's fraud came in light around similar time as Madoff's, and he did exactly what Madoff did - took trust out of the system...

Looking back - Madoff is already convicted and is in jail, and as our Indian judicial system goes - matters are still under investigation, at least few light years away from final conviction...

1 comment:

Ashwin said...

In conjunction, Charles Ponzi and Ponzi scheme are interesting reads