Gupta downfall hits India's elite

(Financial Times) -- India's business elite is still struggling to come to terms with the downfall of one of their most celebrated members, following the conviction of Rajat Gupta on charges of insider trading in a court in New York on Friday.
The former head of McKinsey & Co and director at Goldman Sachs was once the pre-eminent member of India's "Davos set", with an ability to open doors at the highest level of global business, matched only by a reputation for personal integrity and charitable good works.
While many expected the verdict, the conviction of the Indian American on charges of conspiracy and securities fraud after a four-week trial, led some to express feelings of sadness and shame, while others admitted that the trial had damaged the international image of Indian commerce.

edition.cnn.com...

TS is HTF with these greedy cheaters.

I'm delighted at his conviction. To know that justice on at least one of these powerful leaches is being served gives me hope.
Nevertheless, this from the wrap up in the article:

Mr Das also highlighted the "glaring" contrast between an erratic and slow-moving Indian legal system that often protects the well-connected, and the swift and harsh punishment handed out by the powerful US courts. "We sometimes catch [people] but we don't convict," he said. "What the US system is saying is that no one is above the law."

Really!??!!!! Now THAT ^^^ is news to me!!!

*sigh*
No....impossible. Surely, India's elite know that the US pussyfoots around, dawdles, languishes, and does next to NOTHING to these criminals.

Just wanted to give a heads-up ..... see what you all think. Spin? Or......
what?

Gurcharan Das, an author of books on the Indian economy and former chief executive of the Indian operations of Procter & Gamble, said that the saga suggested that Mr Gupta, while associating with billionaires, aspired to become one of them.
"It's the classic problem of status anxiety. It's what we all suffer from in some form," said Mr Das, who is the author most recently of The Difficulty of Being Good, a book that draws on the philosophical lessons of the Hindu epic, the Mahabharata.
"As head of McKinsey he was associating with CEOs and billionaires earning very large sums. His job was to advise people with a lot of capital, not to be an owner of capital. He got new ambitions."

AaAAaaaaaaaah....
he got "greedy", it should say. Associating with billionaires......not a good idea if you want to keep your sou ...*cough*..freedom.

reply to post by wildtimes


Nah, we gotta see it for what it is. It could be that all along he was setup as the fall guy. These groups always have this as Plan Z. If we are found out or snitched on, we simply blame one guy.

So we setup it so that one person takes the dive. All of the evidence points to them. But then again, its so much easier when you get someone greedy or corrupt into that position. That's how the big boys do it.