Rajat Gupta and Jagan


I had always looked up to Rajat Gupta as to be epitome of success that can be achieved by IITians or any hard working Indian. His father died when he was sixteen, his mother died two years later. Inspite of these personal setbacks he cleared IIT. He joined Mckinsey after doing his MBA from Harvard Business School. He was one of the first Indians in Mcksinsey. He was the head of Mckinsey for 9 years. Mckinsey assists world's biggest companies and governments across the world in devising strategies and taking decisions. 

He chose one of the best companies to work for, Mckinsey is the dream company for all the B school graduates. But he did not choose the best place to be corrupt. Yesterday he was convicted for insider trading by a US court. The evidence against him is weak and would not have been enough to prove the charge in any Indian court. Maximum punishment for insider trading is 25 years in USA. And guess what is maximum punishment for insider trading in India. In India insider trading cases can be settled by payment of penalty.

His conviction also co-incides with victory of YSR Congress in Andhra Pradesh elections. I find resemblances between these two incidents very amusing. I am no expert in Andhra Pradesh politics so i may be wrong, but what i understand that only achievement of Jagan has been to be son of YSR Reddy who was one of the most popular Chief Ministers of Andhra Pradesh. YSR was so popular that after his death in an accident in 2009, hundreds of people committed suicide in the state. But i find hard to fathom the outpouring of love towards his son Jagan. YSR had amassed immense black money using his position of power. The money was supposed to be used by him for furthering interest of Congress party in the state. After his death, Jagan inherited all the money but he is now using this money to promote himself as rightful heir of YSR against the wishes of Congress high command. So Congress has threw him out of the party and set CBI on him to recover the rightful congress party fund from him.

This is surely a case of use of CBI for settling personal vendetta. But why people are voting for him out of sympathy. Jagan surely is incapable of generating black money for the benefit of his people. He is only using the money that his father collected. If people want someone who is a capable politician who will create employment in the region then they should not vote for Jagan as he is corrupt. And if people want someone who will create black money for them. Then i doubt Jagan has any capability.

Ramalingam Raju created lakhs of IT jobs in Andhra Pradesh. He is also corrupt. He has also served time in prison. Why don't they select him as their representative. I am sure he will trump Jagan in creating both white and black money for the people.   

So we have Rajat Gupta staring at prison sentence of decades for the slightest of mistakes compared to his long distinguished career. And we have Jagan at threshold of becoming Chief Minister of one of India's most progressive state after being accused of amassing wealth disproportionate to his source of income. 

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