Satyam Saga : Investments in India will reverse!

Enron in US, Satyam in India - which is worse? I pick the second one.  Satyam Saga is just a tip of wide scale misappropriations and financial manipulations that companies indulge in across India. Lot of this has got to do with the corruption in government sector and government policies of reservations. When you have uneducated / less educated people taking up top spots in government, how can they bring good governance?

Satyam for now has no option as employees and clients will leave and many IT professionals across India will face the heat of trying to keep their jobs. Companies have already frozen new recruitments but now you are also likely to see nearly 40% salary reduction across the board.

Satyam chairman himself says they built fictitious assets! Yes - but if you look across the board 100% of Government employees, Ministers have even done worse and this would include all the way to the top.  Its  not only Satyam, its everywhere and its glad that this has come out. Most outsourcing funds that come in India are diversified illegally in different assets by almost every executive. It is finally the time where Educated Middle Class that pays taxes and is always as the receiving end in India will have a last laugh.

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