Months before DeModiapa (Demonetization) happened, I had written an article on Nibor Doohs ( Robin hood spelled reverse). This post dealt with how the crooks actually rob the poor and reward the riches while fooling the poor.
While we do have deal with such political scoundrels and fraudsters, there is another class of people we deal with in position of eminence due to ancestral inheritance. We all know instances like is Rahul Ghandi , other such vermins like Jay Shah, Jyotiraditya, Tejaswi Yadav, or Abhishek Bachchan. These folks are often into prosperity by parental influence or by collusion with wicked politicians. Many a times, their endeavors are ill intentioned to drive the honest but stupid rats down the cliff just like a Pied piper.
For those who have not read Pied piper, he was fictional hypnotic musician hired by mayor of in Hamlin to cure the city of pestilent rats. He plays a flute tune which hypnotizes all the rats to follow him. He goes to the cliff and then drives the rats down in the sea to drowns and die. Well, that was for a good human cause
Lets look at a Pied piper who drives innocent people to sea. A scion from a business family, the Mahindras. Sri Anand Mahindra, the Pied piper has approx 6 million twitter followers. Here is a tweet from him
Why am I calling him a Pied piper ?
Because, there are 2 interesting things in his tweet
- Dancing on the pronouncement by a fraud and cheater organization named Moody’s : Why do I find it stupid ? Moody’s is know to sell ratings for money. They have been penalized my European courts for lack of ethics and giving ratings on bribe. Please read this wikipedia article on various cases against them. Also read how Moody’s cheat and fraud ratings led to housing meltdown in USA here.
- Calling Bank Recapitalization as a reform : This is a real case of sycophancy and misinformation combined. Lets decode what Banking recapitalization of 2.13 lakh crore of PSU banks meant.
PSU banks are managed by Govt appointees and on most occasions have money of people who are poor. This is because private banks do not go to villages and remote areas where they are not financially viable. Once these banks amass money , political pressure makes the managers of these banks give large and often collateral free or risky loans to folks like
TheVijayMallya, and also to fraud business groups like Essar , Reliance , Adani etc.
Why do the politicians pressurize bank manager ?
Because these business folks either fund their election campaigns giving them black money or their luxury trips. No, the political parties like BJP are not expected to reveal their donors and the amount they get from them . No Aadhar or cashless transactions for their incomes.
Folks like Gadkari go to France and enjoy the luxury Yachts of Essar folks. Anil ambani travels in Modi jets to click fraud Rafale deals..
What if the bank manager do not yield ?
They are transferred from their current postings in Bombay/Delhi to forsaken places Jhabuwa, Jhaad gram or Baliya where their wives may likely get raped or their children abducted. Which Bank manager has the guts to offend these politicians ? Their replacement who come, comply and sanction loans.
Is it always political pressure ?
Not always. Most of the PSU bank managers are corrupt and under a quid pro quo ( Mutual benefit or commission) disburse bad loans to businesses.
What happens when these loans go bad ?
These banks suffer losses, they have the NPAs ( Non performing assets as loans) , the losses shoot up. This affects their balance sheet. Their share prices go abysmally low. Their working capital dries up. They go down on verge of death or closure. They need lakhs of Crores just to be alive.
What did Modi and Jaitley do in bank recapitalization?
They took 2.13 lakh crores from our money i,e public exchequer ( All the TDS, GST, income tax, Excise and Service tax we and poor people pay). They paid it to the banks as recapitalization.
This in net means : Poor and middle class were robbed in 100s and 1000s and the corrupt PSU managers and cheater industrialists got reewarded in lakhs and crores. This is a deadly scandal running in lakhs of crores.
So, on the basis of this logic ,
Why do you think Pied piper Anand Mahindra is calling fraud by Modi, i.e bank recapitalization as REFORM !!!! ?
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