I just read in the NYT that Satyam has been willfully inflating its revenue and profit numbers for years. Over $1 billion US$ worth of outright fraud. This is disappointing to me. The article says it will shake the foundations of the Indian outsourcing industry and force US companies to reconsider things.
Its funny – maybe it’s the Hindu thing – but I thought the Indians would not resort to this kind of western style crap in the pursuit of wealth. I guess excessive greed cuts across all cultures.
At some point I would like to see some success stories that don’t involve fraud, collusion, bribery, extortion. It shakes one’s belief in the capitalist system of economic organization.