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1/11/2009

Resigned still caught and answerable

The Satyam bosses had resigned after the fraud was disclosed. But India is not the US or paradise where one can simply pat his backside and resign when wrong doings are discovered. Rubin, the advisor of Citigroup has also resigned. For the moment, many of the failed American financial institutions were due to mismanagement or honest mistakes, so it is difficult to find faults with the directors and top management. In Satyam case, it is fraud, like Madoff, and they have been arrested by the India authority. Madoff is still walking around happily like a free man. There must be a higher expectation of accountability for paid executives whether as top management or board of directors. Walking away by resigning is too easy a way out from accountability. If people are brave enough to take compensation from organisations they must be brave enough to answer for the mess created during their watches. Honourable people must do what is honourable.

2 comments:

Dog said...

Of course, honourabler must do what is honourable. That is commonsense. What is special here is that commoners are incapable of understanding the "honorable doings".

redbean said...

today honourable has different meanings.