Thursday, January 8, 2009

The Satyam fiasco

Surprising how everyone is after Ramalinga Raju alone is being held at gun-point... Is it ever possible that just one man could evade everyone including his BoD for full 10 years. All the members of the BoD with special mention of the COO and CFO are also equally responsible. Just because RR says that everyone is clean and he alone is to blame, let the regulators not take it at face value since we now know what that is... a simple pack of lies in all hues. Worse than the Satyam BoD people are those in PWC who have simply let this reputation take a beating. I am interested in understanding what the Firm has taken action against those individuals involved in the audits. Immaterial of what the investigations bring forth, those who have lost have already lost and they are fully entitled to atleast some peace of mind in getting full details of the scam and proper punishment to each and everyone involved - not just the scapegoat called Ramalinga Raju. My heart goes out to the 53000 odd employees of Satyam who, in this present Market scenario have to hunt for jobs which do not exist in large numbers.

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