Satyam

Woke up to the entire online media; blogs and news websites buzzing about Ramalinga Raju, the iconic chairman of one of India’s leading software companies, walk to shame. Everyone is outraged on how he inflated balance sheet to show nonexistent profits. In Raju’s own words on the scam  : “ Every attempt to eliminate the (balance sheet) gap failed. As the promoters held a small percentage of equity, the concern was that poor performance would result in a takeover, thereby exposing the gap. It was like riding a tiger, not knowing how to get off without being eaten.” 

I’m reminded of a few lines from LOTR : Fellowship of the Ring :

“ The Ring passed to Isildur, who had this one chance to destroy evil forever, but the hearts of men are easily corrupted. And the ring of power has a will of its own. It betrayed Isildur, to his death. And some things that should not have been forgotten were lost. History became legend. Legend became myth. And for two and a half thousand years, the ring passed out of all knowledge. Until, when chance came, the ring ensnared another bearer.”         smile_angry