Tuesday, June 2, 2009

boom time or doom time

The past year has been very interesting and not so exciting with the downfall of major mogul companies like lehmann brothers, Satyam computers to name a few (though the list can go on but that is not the purpose of this article as the list can be procured from the internet). But what makes the matters worst is the condition and the position in which this scenario has sent the common man in or rather the employees be it fulltime parttime or temporary workers (consultants). Everybody is in chaotic state and the scene still worsens. Top level employees are an exception to this situation though, am talking about the CEOs or members of the board of directors who have escaped all this and that too with millions of hard earned dollars of their employees and the tax payers (as most of these were public companies).

It is said that recession in the USA has consistently hit every 7 years if you track down the past 50 years of industrial growth. It sounds as if the clock ticks and smarter or villianous people await that opportunity by gulping down millions of dollars every 7 years. I say this cause similar incidents happened in the recession of 2001 when billion dollar frauds were done by top notch CEOs of IT companies bringing about the establishment of SOX (the so called auditing of IT companies and their operations to avoid such a mess in the future which I doubt has been of any use seeing what has been happening in the recent times).

If history has been repeating itself for past 50 years and making the scenario worst everytime (This time an entire country was on the verge of declaring national bankruptcy ICELAND) doesnt it occur to anybody or hasnt it occured to somebody about doing something about it. Who has the strength to bring about regulations which can atleast reduce the frequency of such situations? I ask this question because people who make laws, pass laws ARE THE LAW BREAKERS HERE!!!!!
So whom do we turn to this time, cause I really think its high time we people make true use of democracy here and govern the rules by the people, for the people, in favour of the people and
which has been the case since time immemorial.