Tuesday, March 01, 2011

Rajat Gupta indicted of insider trading and his speech to the ISB

Here are the two faces of Modern India.

Give speeches exhorting the youth on the values of Indian tradition and at the same time trade with the insiders throwing all values out of the window. Now that Nira Radia has exposed the ugly truth of corporate India, here is one more fall guy for the Goldman Sachs who is going to join Madoff and company

The insider trading charges against a Goldman Sachs board member filed today by the Securities and Exchange Commission have been a long time in coming.

The SEC’s Division of Enforcement said that Rajat K. Gupta, a Westport, Connecticut-based business consultant, provided Raj Rajaratnam with confidential information he learned while serving on the boards of Goldman and Procter & Gamble. Rajaratnam allegedly used to inside information to trade on behalf of hedge funds controlled by his company, Galleon.

and this is from the speech 5 years ago at the ISB Hyderabad

Another thing which I think Ratan said a little bit earlier. Lead through values, be true to yourself. It is easy to make short term compromises that push you ahead. That won’t give you happiness or peace of mind. Sometimes in the quest of making everybody around you happy or what you think they want, you may not do the right thing. Unfortunately or fortunately, you have to live with yourself longer than you have to live with anybody else. So be true to yourself, be value driven