Creed of Greed


Raj Rajaratnam, the Galleon Group South Asian billionaire head who was on a roll has found that his head will also roll after the Manhattan District Attorney Preet Bharara (another South Asian) “pursued and prosecuted” Rajaratnam and his “circle of tipsters”, according to the New York Times, “…whose origins like his, were from the Indian subcontinent”.  The circle of tipsters included a powerful and respected South Asian CEO, Rajat Gupta of a major consulting firm and another South Asian senior partner, Anil Kumar.  Mr. Gupta had high friends in high places and had hired the child of a high friend in his firm for a starting salary of USD 125,000.  The extended circle of friends and acquaintances of these tipsters included political leaders, embezzling hoteliers, self-help gurus and an assortment of semi-celebrities, convicted e-mail scammers and other shady characters.  


Wall Street has a “Creed of Greed” and has witnessed many financial scandals and some of the major scandals are listed below: