The article Wilful Defaulters are a result of Wilful Blindness is well titled and the details given in the body fully justify the title. The blindness starts from politicians and gets spread through the bureaucrats, regulators, banks own professionals, Auditors and ends with the tax payers who pay for all the losses incurred in the process blindly without knowing what has happened. Journalists write volumes exposing all the wrong doings, but the scams continue to get increased year after year and take different forms and shapes. The loss is borne by the tax payers and the cases are fought for decades without having any checks and balances to contain the frauds , omissions and commissions and the institutions get easily looted. The Governance standards have virtually disappeared from all Institutions and the accountability is no one's concern in the country.The credibility in the administrative system is disappearing fast and any amount of exposure ,naming and shaming have no impact. The looters feel proud for all the loots.
Dr T V Gopalakrishnan
(This comment is published in Money Life)
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