One Upmanship – Bernie Madoff vs Ramalinga Raju

Scene: Bernie Madoff and Ramalinga Raju are put in the same jail, for crimes of similar essence – defrauding shareholders/investors. Both wanted to prove that one was better than the other – in swindling. And so began the argument –

Madoff: You bloody brown fellow! How dare you steal thunder under/from me?

Raju: You racist cheater! How long do you want to be in the limelight? Forever?

Madoff: Why did they put you here after all? I mean, what greater crime did you commit than me?

Raju: I defrauded, actually made fun and fool of atleast a billion people into believing that I was building the next IT behemoth. What did you do?

Madoff: You are just talking about Indians and a bunch of Wall Street Americans who have invested in your ADRs. I have defrauded, again, made fun and fool of millions of people across continents – US, Europe, Asia to quote a few.

Raju: That is nothing! My company was one of the SWITCH of India (Satyam, Wipro, Infy, TCS, Cognizant and HCL). We were believed to take over the outsourcing world. Haha, I have left India Inc. with a WITCH now. That should settle it.

Madoff: Not so soon you brownie, although that’s an insult to the food item itself! I defrauded banks and other investors to the tune of $50 billion. What was the little amount that you cheated people with?

Raju: You can’t understand the Indian measuring system, do you, you imbecile?! I defrauded the investors with a much greater amount than you did. 8000 crore is the amount – translating to 80 billion – a much greater number than you.

Madoff: You moron, you can’t understand the simple conversion of Rupee to Dollar. How did you ever become the Chairman of a company?

Raju: You couldn’t pay up little money in a ponzi scheme. How come they made you NASDAQ chairman once? How come they all considered you to be one of the makers in Wall Street?

Madoff: That’s because I was cheating them for a little over 48 years dude and I became one of the most powerful people on Wallstreet! They had to watch their words very carefully. Between, how many years were you cheating a billion people, which I admit is quite a huge number?

Raju: Haha, thanks! Well, publicly, its been about 8 years but before that we hardly had any revenue to cheat. Between, I appreciate that you had the talent to cheat people for 48 years. Awesome!

Madoff: Now that we have mutual appreciation and admiration for each other, how did you get caught?

Raju: Well, I technically misstated the accounts, showing more revenue than what was coming in. You know, all that ‘doing business on a cost basis’ funda. However, I and my dear family members made a lot of money (wink, wink).

Madoff: And then?

Raju: Then, I had to cover the tracks of this cheating or give money to my sons in Maytas, I forget which. But all hell broke loose in the US simply because I was transferring 7000 crore of fictional money to my son’s company. And then, Merill Lynch pulled out citing some esoteric ‘material accounting irregularities’ which I never understood. I wrote a letter to my dear employees, who in fact, worked like dogs for me that I cheated them happily, actually, screwed them happily for close to 8 years. What happened in your case?

Madoff: Well, my conscience pricked. I confessed.

Raju: Haha, that’s a very good joke! I can’t stop laughing.

Madoff: Haha (high-five) The jury and the media couldn’t make this out at all (high-five). You are indeed very sharp.

Raju: Haha, thanks. What happened?

Madoff: Well, with this stupid sub-prime crisis, some morons in Europe asked for money which I didn’t have. And then, everything blew up.

Raju: Well, we both have one thing in common

Madoff: What is that?

Raju: We both had auditors who hadn’t done their homework or classwork.

Madoff: Bunch of idiots. What do they know anyway? Sarabanes-Oxley – WTF is that? Losers!

Raju: Haha, fun, fun, fun. Now, let’s just get a bail and get the hell out of here tomorrow.

Madoff: And cheat more people…hahahah!

Raju: (high-five) hahahah!

And so the saga ended. Madoff and Raju from a mode of one-upmanship had transformed into partners-for-the-next-fraud over a conversation in the jail.


3 comments so far

  1. J. Gentillon on

    Great Blog you have here. Keep up the good work.

    Oh, this Guy made $2.6 mil in 2008 alone, on the net. No recession for him. Check the link below to see the video of how he did it.

    Thanks and God Bless

  2. vijai on

    That was one hilarious make up of Madoff and Satyam story. It was quite good. SWITCH n WITCH. That was cool man. I did wrote about them in my blog site( more of financial aspect but this one is good..


  3. Sudipa on

    Njoyed the dialogue…really funny.

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