Wednesday, January 14, 2009

Govt awarding Satyam 2000Cr for its mess

I can understand the 60000Cr package given to farmers who cant repay their loans. Afterall agriculture is the backbone of our economy. But what I cant understand, if CNN-IBN report is to be believed,  is why Rs 2000Cr of taxpayers money is being given to one company that may or may not exits in 2 years. They have made mistakes and the have to pay the price. It may sound harsh but the employees were well paid and they should have been smart enough to save for times like these.These guys are skilled and highly skilled workforce. Having said that, most of them will need money to repay their loans and credit card debts; money they borrowed to live in luxury assuming their company is invincible and their job are secure. Those who are concerned about their welfare should also be concerned about those in poverty and are starving.

I'm not a communist but if the govt should act like any other corporate and acquire a share of the company and run it like public sector bank. Make it an investment. Otherwise it just seems that(which is an obvious fact anyway) the govt is creating a vote-bank for the next elections

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