Satyam has gone belly up .
Its according to which channel one is seeing or which business paper one reads - anywhere from a 5000cr to a 7000 cr scam . Ramalinga Raju has confessed to the massive accounting fraud , sinking his stock by 80% and the stock market by 750 points , putting pressure on the world markets on corp governance and probably liquifyeing PwC - all in one day.
Just in the morning multibillionaire Adolf Merckle , one of Germanys wealthiest men , owner of Heidelberg cement among other firms jumped in front of a running train not able to handle mounting debt.
Raju chose to confess instead . It was like riding a tiger , not knowing how to get off without being eaten - said RR in his letter .
Greed is good , said Gordon Gekko , Michael Douglas's character in Wall Street .
Not so sure.
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