Showing posts with label Henry Kravis. Show all posts
Showing posts with label Henry Kravis. Show all posts

Monday, May 16, 2011

The Greedy and the Needy




Was having this rather stimulating quasi-philosophical discussion with the wife the other morning. Though it rendered me being incommunicado for a couple of days - it's still probably worth recounting for it's sheer existentialist import.

The context was the conviction of Raj Rajaratnam by the U S Trial Court in the Galleon Hedge Fund case and possible implication of his friend - Rajat Gupta,till just a few days ago the poster boy of - not just the Bongs - but the entire Indian diaspora - accused of leaking priviledged market sensitive information to him.

The question - obviously was - why should such a successful and respected professional like Gupta ("Ratan" - literally, meaning 'jewel'- to his friends and family ) falter thus (if true). The theory doing the rounds is - apparently, Gupta was suffering from "billionaires envy" and wanted to be in the charmed circle of Kravis (of Kohlberg, Kravis, Roberts & Co) and the likes (Read article).

Fresh from the parent's orientation at the Valley School - where we heard that, modern day life was all about "management of greed" - I was quick to pronounce it as a case of abject avarice.

But, then came the news of Dominique Strauss-Kahn - the IMF Chief, who it seems had gone a little beyond lifting the skirt of the hotel maid in his USD 3,000 suite in Manhattan. Was this also a case of 'greed' ?

Here, I had a point of difference. While the desire for money and power - can be attributed to 'greed' - sex is a matter of temptation. And, it is not just a matter of semantics, I argued (at my peril !!).

When Adam and Eve succumbed to the apple - it was not greed at work but sheer temptation. The same is true of alcohol or drugs. The temptation could lead tio craving and ultimately even to addiction - but the same can't be equated with greed.

There is another point of distinction to my mind - however, subtle. Temptation (or addiction) is the cause of undoing of the self - it seldom (at least directly) harms others. The same is not true of 'greed' , which is necessarily at the cost of others.

The owner of a publishing house I worked for, was rather tolerant of the sexual peccadiloes and drinking problem of his journalists. On being asked why - he used to say they were neither murderers nor thieves - whatever they were doing was at their own peril - so who was he to exercise his moral judgement upon what was, after all, a matter of their personal choice.

But,there is also the story of the honest prostitute who never took married clients -because she said her's was a noble profession to serve the 'needy' and not the 'greedy'.