"Greed, for lack of a better word, is good”

Posted: January 31, 2009 in Wall Street bankers
Tags: , ,

I haven’t stopped laughing since I read that Wall Street bankers gave themselves a bonus from $ 20 billion of tax payer’s money. Remember Gordon Gekko? I’m thinking of the famous scene from Wall Street. And it’s also quite comforting to know that it doesn’t happen only in India. Just think about it – not a few thousand rupees, some dirty blankets and rotten bags of rice; not even Rs 7000 crores a la Ramalingam Raju, but 20 BILLION DOLLARS. Hell, these Wall Street bankers have redefined the word ‘ride’. It’s a humungous ride. I mean, these guys have just proved that they can not only screw millions of tax-payers of their savings, they can do the same to the Government and scruples be damned. You can only marvel at their chutzpah. The Merrill Lynch guy spent 1200 dollars on a new commode, for heaven’s sake, from the $1.2 million on a new office. In other words, the public paid from their pockets, so he could take a crap in the lap of luxury. People criticized Anil Ambani and Mukesh Ambani for presenting their wives with a yacht and a corporate jet. But that was their money and as long and as they pay salaries to their staff and everyone is happy, they could damn well do what they want with it. Right? But what about these real life Gordon Gekkos? The rest of the world quakes when the US flexes its muscle, and here are a bunch of crooked bankers who’ve just crapped all over Obama and his team. Hat’s off to you guys! You did to the US government what the rest of the world only dreams of doing!!

  1. Joe Pinto says:

    Hi Sinha,The Reaganites in USA and the Thatcherites in Britain were the political leaders who made greed good and respectable. Making money and being rich, by any means, became acceptable.In India we have their followers: Manmohan Singh, Montek Singh Ahluwalia, P Chidambaram and others. Fortunately, since India is a democracy where the poor, especially from the villages, vote consistently and in large numbers, it has not been possible for the liberalisation, privatisation and globalisation (LPG) agenda to be fully implemented in India.That is one reason the current recession may not hurt us so badly. Seventy percent of our money is in banks and not in the stock markets or investment banks.I have said it on my blog: when thieves fall out, honest men come into their own. The thieves are falling out and going bankrupt. But where are the honest men and women?

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