On 29th December I wrote that the Satyam saga reminds me of Conrad Black and Hollinger but it seems that I was wrong and it is being likened to Enron. If I remember rightly an awful lot of managers of Enron are still in prison and the CEO escaped by dying. In the case of Satyam I doubt that Mr. Raju will be seen in a striped uniform. At first their will be an enquiry which will go on for months after which a case may be filed. Our divine judges are usually in no hurry and so the date may be set after a few years. By this time everyone will have forgotten what it was all about and Mr. Raju will have started some other business. After a decade or so a fine of Rs. 10000 or $200 will be levied on him and things will carry on as before. Fortunately in this case Satyam is listed on the New York Stock Exchange and the SEC in the US might have something to say. Satyam stocks have lost 80% of their value hurting US shareholders and trading was suspended yesterday. If the SEC finds Mr. Raju guilty he will have to pay millions of dollars in fines and go to prison in the US for a long time. Hope that happens. It will teach our business tycoons and regulators that globalisation means increased profits as well as genuine punishment.