This didn't happen overnight. More important than what happens to Raju is preventing this from happening to other companies. A system is needed that is able to detect such dishonesty as early as possible and alert regulators and the market. Actually, since people do this to artifically bloat their market value, just alerting the market is enough as the market will punish them by slamming their stock price. By the time the Maytas deal came to light, a lot of fraud had already happened.
Re: Re: They should trace how this could have happened
by Virtual Insider on Jan 11, 2009 09:42 PM Permalink
These things kept happening since 2001 and though the ship was sinking, the ship masters kept moving making the workforce believe that everything was okay...They were decorating the AIDS patient (Satyam company) and showing it to the world as a handsome hunk....
