Wednesday, April 20, 2011

Corruption Vs Lobbying

Rich and powerful people always try to influence policies and results for their needs. In India it is done through Bribes  or violent mental pressure. In India we call it Corruption. Sometimes, although not very common, these people face legal trials as well. As in the case of 2G scam.

Here in US we have lobbying power. But surprisingly this is legal and not a case of Corruption. 

The frustration is nicely put forward here:

'There are some fund managers who need to get their heads examined. If they are particularly from the western world, then they have no right to say anything about India's practices. They are coming from countries that have completely given law the go by. In the whole subprime scam, not even a single person has been arrested till date. In the case of 2G spectrum, there is virtually no scam in my view. It has been a media creation. 

Till now, I have not seen the evidence of Rs 20000 crore being paid to A Raja. Maximum you can question the lack of an auction, why a fixed price, but there are plenty of views on both sides. However, in the subprime, there is absolute scam, fictitious profits, fictitious assets, fleecing poor homeowners, rigging the whole economy, making the whole world economy crash and not even a single arrest. That is the way the US deals with this.'

Just to be clear I don't think corruption is good anywhere in the world, but I am  just pointing out the way west looks at east and never bother to fix its own problems.

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