I asked the CEO of a listed company about doing something in his accounting. He said “I can’t” my auditors are XYZ.

That was the end of a 3 hour conversation about his company and the future prospects. This was way back and I am happy that I realized that I was talking to a man who did things because it was mandatory – and he would cheat if he got a chance to. Such ‘managers’ scare me. These are the types who will drink and drive and say “arre Subra Jaipur mein koi pakadega nahi’ or “I will not get caught’. If your morals are because somebody will catch you, it may not be too difficult to drop that company from your portfolio.

Sadly not every company that you invest affords you that level of interaction. And if I were doing an interview on behalf of a channel the questions that I get to ask (or answer) are “will the market touch 40,000 in April 2019”. Just bad journalism or just not knowing what to do. Why is it so difficult for CEO and fund managers to make ethically correct decisions when it is easy for us to make it?

If my maid servant came and asked me for a loan of Rs. 9000 to buy ONE dress for herself, I would just say no. However, as a CEO of a finance company with a Rs. 10,000 crore bottom of the pyramid ‘loan book’ this loan looks like an awesome idea and a great product. Why does this happen? Why do I think that earning money for my greedy shareholders – and my own career advancement of course – is far more important than doing what is good for the country and for its people? Do I justify it by saying “If I did not do it, somebody else will’. Will the children of the promoter one day ask him this question. “Grandpa why did you lend money to people who had no ability to repay money by the shit that they were buying? I hope the kids and grand kids ask these questions.

Skilling was only interested in keeping Wall Street happy – and the resultant increase in his own profits. George Soros goes short on FB and FB hires people to discredit GS. The CEO says she is not sure that she did hire them. The big 4 sign ILFS balance sheets. The Credit Rating agencies hide behind methodology. The Mutual fund body says “debt funds are like fixed deposits”. Really Amfi?

We need some kind of a middle path – the Right wing believes that what is good for the shareholder (dominant shareholder aka the beneficial owner) is good for the world. Zuckerberg and Sandberg believe that they are here to “serve” the world so as long as the data is compromised it is fine. Sad is it not?

The Left wing – in the world – not just in India – believes that all wealth is ill gotten. When you study various groups it is clear that we need a middle path.