Monday, April 19, 2010

Swindler's List

Goldman Sachs, as you know, has been the latest entrant into the list of multinational organizations that have been charged with defrauding their investors and customers! Adding another string of shams to a long list which has emerged forerunner in the news, thanks to a hyper recessive state of the market, this falling of corporations like a house of cards, emerged noticeable enough in the eyes of the world after the Enron fiasco in October 2001. Since then, monolithic conglomerates which were hitherto blue chips of the industry have been going under in unimaginable numbers!

My point is that of disgust! These supposedly clean-slate businesses have long emphasized on corporate governance and transparency while claiming to uphold the values of corporate etiquettes and what not! In doing so only on paper, while amassing colossal profits and dishing out hefty bonuses to their leadership branch,  they have unduly harassed their employees into making them clock extremely long hours under very high pressure, often in the most derelict circumstances, something that is almost always never addressed, despite the presence and operations of supposedly superior human resources functions.

Those of you, who are part of the corporate culture know very well how integrity and transparency are mere buzzwords etched only in glossy presentations and brochures, their meaning, letter and spirit never practiced even in the least possible measure.

Is it therefore worth the effort to be enslaved to such well crafted evil that totally disregards human capital and its potential, while instances of white collar crime such as creative accounting, just to name among the very many, goes unpunished?

26 comments:

  1. to answer your question - no.
    they feed on human greed. period.

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  2. oopssss.....
    My answer is also NO....
    :(

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  3. You know the answer. But is there a solution to his never ending problem? Most of the times, we dont have a choice.

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  4. Magiceye

    Indeed Sir - True, they do prey on human greed!

    It isn't worth one bit, yet we are caught up in this quagmire!

    God help us!

    Rakesh

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  5. Anya

    I'm glad that your answer is no! You surely have your priorities well in place!

    Rakesh

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  6. Vimmuuu

    Perhaps there is, after all! And that is to become an entrepreneur ourselves!

    Rakesh

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  7. Interesting post. I never knew of this fiasco of Goldman Sachs.

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  8. Roger.. No choice.. It has evolved into a behemoth that its to difficult to take it down.

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  9. And one day we'll learn about the rating agencies also...
    Excellent post!!

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  10. Rajesh

    Surprising, isn't it? Actually, may not be really, considering how many went down this way already!

    Rakesh

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  11. Vibu

    Don't you lose hope my friend and forget to challenge the norm!

    Hope things will change and they sure will!

    Rakesh

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  12. Gil

    Oh, you bet! They're a bunch of cronies too!

    Thanks very much!

    Rakesh

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  13. "Is it therefore worth the effort to be enslaved to such well crafted evil that totally disregards human capital and its potential, while instances of white collar crime such as creative accounting, just to name among the very many, goes unpunished? "

    This uncomfortable question tells me to throw away my job and 'reclaim my life'!

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  14. All MNCs are the same. They talk about integrity and stuffs when it comes to employees. When its their turn they show their true colors.

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  15. The problem is of the failure of market regulators in US which kind of believes in self regulation of companies which lead to such situation resulting in a recession too.

    Its good to see that they are learning from their mistakes.

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  16. Praveen

    It is one question that has faced me like a ton of bricks a number of times and perhaps the one that will some day make me an entrepreneur!

    Cheers

    Rakesh

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  17. Nethra

    Indeed - they are pretty much the same breed who sing song a lot of how they do - but actually don't!

    Thanks for visiting my space!

    Cheers

    Rakesh

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  18. Survivor

    That is one of the many problems! Not just the only one!

    There surely has to be a way in which a lot of normalization needs to happen and the culture needs to change! That, I presume, is the beginning!

    Rakesh

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  19. uncanny that you've posted this at a time when i'm quitting for the exact same reason. Double Standards. There's nothing more painful than lying to yourself, month after month, that this is one of the best brands to work for. And as far as human greed is concerned. Its everywhere. Not just corporates. Why else would you eat out of funds allotted for the emancipation of destitute women and children. Is there any human misery where the hawks have failed to capitalize? Like they say, being poor is a sin.

    Peace :)

    PS: where art thou? Ooty?

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  20. It is really a herculean task to come out of this slavery as the slaves pockets are well fed and to most this is what matters above all!!

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  21. my knowledge in thse matters is next to zero .. I only wish that people were more honest in every field .. its much easier and takes no effort ..

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  22. Swati

    Oh yes, human greed is surely every place! U name it and U find it there!

    Corporates are however the top of the list in their concerted effort to fool people all the time! Sadly, we are so caught up with the machine that we seldom can effect a change!

    But change we must, for life is lost without it!

    And yes, I'm presently in Ooty! Where are U? Where u off to?

    Cheers

    Rakesh

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  23. Subu

    Indeed, we are so neck deep into it and cannot forget or ignore creature comforts that are dished out to us!

    Sad, but true!

    Thanks for visiting my space!

    Cheers

    Rakesh

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  24. Aria

    If only people were as simple and true as your thoughts - the world would be heaven!

    Cheers

    Rakesh

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