Politically Incorrect: Satyam Scam
Friday, 9. January 2009, 02:45:41

Satyam Computers stock fell over 77% after it CEO admitted to have botched its account books for over a year, and pulled off a Rs. 40Bn corporate fraud.
Want to scam a whole bunch of investors? Here is how its done.
Satyam Computer Services Limited Chart
Bad: You bought their shares.
Worse: You bought their accounting software!















LorenzoCelsi # 9. January 2009, 07:35
Shaunak # 9. January 2009, 09:00
LorenzoCelsi # 9. January 2009, 09:07
daxonmacs # 9. January 2009, 23:18
I have serious doubts about capitalism or neo-capitalism. It is basically immoral, cause based on destortion of balance.
On top of all that, it just does not add up, the sum itself is a fraud.
brunobear # 10. January 2009, 01:29
daxonmacs # 10. January 2009, 01:42
Shaunak # 10. January 2009, 03:26
daxonmacs # 10. January 2009, 06:22
Their trial is still going on.
They ripped off the whole bunch of investors and shareholders, amongst which were banks as well.
Everybody with money trying to make an extra dime investing and joining this boom found themselves sold a whole lot of air, at high price.
brunobear # 10. January 2009, 06:32
daxonmacs # 10. January 2009, 06:37
Besides it is no use having a watchdog when the poor thing is chained up all time.
A watchdog should be allowed to do its job and have some jurisdiction and power.
Barking alone does not cut it these days.
Shaunak # 10. January 2009, 07:02
Securities and Exchange Board of India, Institute of Chartered Accountants of India and the ministry of corporate affairs. All of them caught napping ofcourse.....
The price of Satyam shares today plummeted to Rs.6.8 from Rs.180 the day before yesterday.....
Some suicides have been reported.... :sad:
daxonmacs # 10. January 2009, 07:11
And often hard earned money is invested in shares.
Usually however it is spare and playing money of the rich apart from some reckless self acclaimed stockmarket gods.
The ones that invest all and everything and are found on the pavements later, every three, four years wave.
It used to be seventy years.
Ha, the dog is caught watching its dreams
LorenzoCelsi # 10. January 2009, 09:02
The fact that we use cool words like "marketing" does not change the other fact that it consists in manipulate people so they give you their money either for something they don't actually need or for something that values much less than its price.
I could go on for ever.
qlue # 10. January 2009, 11:19
anirudhtagat # 10. January 2009, 17:23
yeah, Buy now.
Shaunak # 10. January 2009, 17:38
Not petrol stocks at pumps, and a flood of Satyam stocks in the markets.....