@AlliesFin
Satyam, IL&FS, DHFL, GTB & Now *'YES Bank...'*
All have one thing common is Hunger for *Quick Money...*
Harshad Mehta *to* Ketan Parekh...
Kapil Vadhvan *to* Rana Kapoor...
Same Modus Operandi ~ Same Out Come......
These are not *institutional collapses.* What has collapsed is the *ethics and values* of the people behind.
The *auditors* have failed - both *internal and external.* Reputed Rating Agencies also Played their dubious Roll, both for Towering Fees & Favour...
The Promoters and Independent Directors have failed *individually and Collectively.* Rating agencies have failed and Regulators have failed, also..
On one side are those who are committing the fraud. Then there are those who are supposed to, but not detecting the fraud. Then there are those who know what's happening but are afraid to report and *remain silent..*
Greed for Money, Over ambitious aspirations coupled with *zero values and ethics* is the result of these collapses..
Wonder how many more holes are there in the Balance Sheets of institutions and yet five star reviews are being given and lay investors and depositors are made fools. They are at the receiving side always and waiting in queue for their hard earn money, saved for old age needs.. Mostly, during such type of *intentional* Crashes, Both *Depositors and Investors* are looted collectively...
Do not trust organisations that are *flashy,* *advertise* too much, *grow too fast* and could collapse too suddenly. Lending is a serious business and companies that only believe in pressing the *accelerator with no leg on the brakes* will meet with serious collapse one day. Cautious *Conservative approach* is the right approach while lending money. No two thoughts about this.
Really, extremely Strange Phenomenon are happening these days in our Economy, that is....
# *"Profits are Privatised While Losses are Nationalized".*
With gun you can rob the Bank but now With Bank, you can rob million Persons at a time...
It's now high time that Schools & Colleges go back to teach the *Basics of Indian Culture* - Satya, Dharma, Shanti and Ahimsa. Time to teach Morals, Values, Principles, Simplicity of life as *Chapters even in Modern Business Schools* so that *next generations stand by* it and not affected by the *Virus of Corruption* as we are being affected by coronovirus for shaking hands by giving up Indian culture of a *Namaste...*
India needs education based on our legacy Values, but not merely *literacy...*
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