In your interest.
Online Personal Finance Magazine
No beating about the bush.
In an excellent article in The New York Times, Michael Lewis, who wrote Liar’s Poker, and David Einhorn, who wrote Fooling Some of the People All of the Time, have analysed why America and its regulators failed to check the rampant greed and wrongdoing that ended in massive financial collapse and triggered a global recession. Lewis and Einhorn paint a worrying picture of the powerful...
These are the questions that the well-informed people in Hyderabad are asking each other after B Ramalinga Raju’s stunning confession that he single-handedly committed India’s biggest corporate fraud of a whopping Rs7,000 crore at Satyam Computers.
Raju’s story is highly implausible in itself (see Box: It Does Not Add Up) and stinks of political involvement. One clue is that the entire...
There was a time in the 1980s when pedigree and lineage counted for almost everything. Shareholders had blind faith in companies promoted by big business houses. Unfortunately, the faith has been misplaced and its consequences have been terrible. The companies of the Singhanias, Thapars, Goenkas and Modis have done quite badly. Those of the Birlas have also collectively destroyed wealth. ...