Tuesday, March 15, 2011

Making Money Scams





There are two major economies today in the world which are growing at a fast rate — India & China. In fact, both are being watched closely, and analysts predict that they will be the future economic super powers. There are varying reports as to who is outpacing the other.


Sadly though, there has been a negative side of this development as well: corruption and scandals are increasing alarmingly. And the magnitude of loot involved, as well as the large number of cases which are surfacing, makes one wonder what cost will society have to bear if unbridled corruption wreaks disaster on the development phenomenon. For, though scandals have been exposed and investigations are ordered, there has never been a single case of public money having been recovered. It is you and I who have to make good this loss to state exchequer by paying additional taxes.


In the eighties, there was the Bofors scandal. Rhetoric & politics aside, nothing tangible has happened to this date. Then there were stock market scandals, fodder scam and several others. But, what is being witnessed in the last few months in India is unprecedented.  First, there was this Commonwealth Games scam (Rs. 15000 million or US $326 million), {Rs. 1300 Crore deficit for Commonwealth Games, taxpayers will Pay} followed by the biggest ever 2G Spectrum Scam [] {What is 2G Spectrum?} (Rs. 1700000 million or US $ 38260 million). The list of recent spate of scams is long.


The deadliest cancer society is afflicted with today is corruption. If you it look up on Wikipedia, it describes the adjective form corrupt as ‘utterly broken’. That precisely describes the state of society as a result of this rotten practice by human beings the world over.


The disregard for spiritual or moral conduct for material pursuits leads to a depraved mental state in which the individual chases illicit wealth or other objects of desire.


This is an attempt to reflect on the many dimensions of this pervasive hydra-headed monster. At the extreme inner core of this evil practice is the perverse desire of the individual for self-gratification borne out of extreme greed. The frustrating thought that it has not been controlled, let alone eradicated, even though it is projected to be unlawful and damaging to society, makes me sick.

Continued on the next page





There are two major economies today in the world which are growing at a fast rate — India & China. In fact, both are being watched closely, and analysts predict that they will be the future economic super powers. There are varying reports as to who is outpacing the other.


Sadly though, there has been a negative side of this development as well: corruption and scandals are increasing alarmingly. And the magnitude of loot involved, as well as the large number of cases which are surfacing, makes one wonder what cost will society have to bear if unbridled corruption wreaks disaster on the development phenomenon. For, though scandals have been exposed and investigations are ordered, there has never been a single case of public money having been recovered. It is you and I who have to make good this loss to state exchequer by paying additional taxes.


In the eighties, there was the Bofors scandal. Rhetoric & politics aside, nothing tangible has happened to this date. Then there were stock market scandals, fodder scam and several others. But, what is being witnessed in the last few months in India is unprecedented.  First, there was this Commonwealth Games scam (Rs. 15000 million or US $326 million), {Rs. 1300 Crore deficit for Commonwealth Games, taxpayers will Pay} followed by the biggest ever 2G Spectrum Scam [] {What is 2G Spectrum?} (Rs. 1700000 million or US $ 38260 million). The list of recent spate of scams is long.


The deadliest cancer society is afflicted with today is corruption. If you it look up on Wikipedia, it describes the adjective form corrupt as ‘utterly broken’. That precisely describes the state of society as a result of this rotten practice by human beings the world over.


The disregard for spiritual or moral conduct for material pursuits leads to a depraved mental state in which the individual chases illicit wealth or other objects of desire.


This is an attempt to reflect on the many dimensions of this pervasive hydra-headed monster. At the extreme inner core of this evil practice is the perverse desire of the individual for self-gratification borne out of extreme greed. The frustrating thought that it has not been controlled, let alone eradicated, even though it is projected to be unlawful and damaging to society, makes me sick.

Continued on the next page



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