Fwd: Fw: Friend, father & philosopher of black money is Chidambaram

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From: Ashok T. Jaisinghani <atsingha@vsnl.com>
Date: Thu, Aug 4, 2011 at 2:21 AM
Subject: Fw: Friend, father & philosopher of black money is Chidambaram

 

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Sent: 03 Aug 2011 8:39 PM

Subject: Fwd: Emailing: Friend, father & philosopher of black money is Chidambaram

 

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From: Kishor Ruparelia

AT LAST RAM JETHMALANI SPEAKS OUT.

 

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Friend, father & philosopher of black money is Chidambaram

 

Palaniappan Chidambaram, whom I shall for the sake of brevity call just Chidambaram, is best seen through black and white. And please don't get me wrong and accuse me of racism. I refer not to epidermis or mane, but to the economic colour of money. Some of his greatest contributions to the economy of India are his brilliant pioneering initiatives for changing the colour of money from black to white. And this passion has never left him.

 

Many of us have forgotten the Voluntary Disclosure of Income Scheme (VDIS) 1997, which he announced when he was Finance Minister with the United Front government, granting income-tax defaulters indefinite immunity from prosecution under the Foreign Exchange Regulation Act, 1973, Income Tax Act, 1961, Wealth Tax Act, 1957, and Companies Act, 1956, in exchange of self-valuation and disclosure of income and assets. The scheme was brilliantly conceived. While all schemes in the past valued declared assets at current prices, VDIS 1997 brought in an arbitrary date of 1 April 1987. Gold and silver hoarders, and large property holders got an exceptional bonanza on this valuation system. Further, proof of purchase was not insisted upon, which gave complete freedom to the confessors to fudge any date they wanted to their own financial advantage and further plunder of the country. So, even if gold was bought after 1987, it could be shown as having been bought before 1987, and it was a win-win game for all stakeholders to rake in the cuts. The Comptroller and Auditor General of India condemned the scheme in his report as abusive and a fraud on the genuine taxpayers of the country. But the issue was forgotten, and the illustrious career of Palaniappan Chidambaram rose to greater heights in the UPA regime.

 

Those were his innocent days. What a long way he has come since the era when he was cooking up VDISs, so utterly transparent, that the loopholes and avenues to give relief to the looters stared you in the face. The world economy was also then a little simpler than it is today, and his best achievement was getting caught about his investments in Fairgrowth, which was involved in the Securities Scam of 1992. Chidambaram had to resign for this utterly transparent investment in a company whose scam would have paid rich dividends. Unfortunately, he was not Finance Minister at the time and did not have the machinery to hush things up, and could only remotely control the markets, unlike his present capabilities as former Finance Minister and thereafter.

 

Being Finance Minister in the UPA government was his finest hour. He could fiddle around with share markets, capital markets, banks, financial instruments, such as, securities, participatory notes, tax treaties, not to speak of spectrum sale, and use his extraordinary innovative powers of black money magic to plunder our country with complete impunity. He assiduously cultivated the media with his clipped English accent (that led him down, now and then), occasional freebies, and sustained shadows of the Enforcement Directorate that he commanded.
 

 

Chidambaram cannot get black money out of his blood. Dr Subramanian Swamy has clearly stated in his website, "I now have further information from my usually reliable sources in the Union Government that the tapping of Finance Minister Mr. Pranab Mukherjee and his close associate in the Ministry, enabled Mr. Robert Vadra the son-in-law of Ms. Sonia Gandhi and Mr. Karthik son of Mr. P. Chidambaram, to use the data thereby collected to manipulate and rig the Mumbai stock market. Earlier these data were directly provided by the then Finance Minister Mr. Chidambaram. I demand that the SEBI be asked by PM to initiate 'Insider Trading' investigation and prosecution of Mr. Vadra and Mr. Karthik."

 

If what is put out by Dr Subramanian Swamy is false why doesn't Chidambaram sue him?

 

The dark clouds of the 2G scam and the repeated evidence being given by A. Raja and other accused of his tacit involvement and other acts of omission and commission are menacingly closing in on Chidambaram. He is losing his cool, and more importantly, losing his carefully clipped English accent to its more indigenous roots more often. And like his colleague Digvijay Singh, his mind seems to be disintegrating to a stage where he has started talking gibberish. Take this, for example: in reply to the BJP demand for his resignation for his involvement in the 2G scam, Chidambaram claims that the BJP is targeting him since he initiated a probe by the NIA into Hindu terror. Can any rational person see the connection between the two?

 

Take also his comments regarding the recent Mumbai blasts. As Home Minister, instead of taking stock of the situation, and providing leadership, the only intelligent thing he could think of saying was, "No intelligence is not intelligence failure." Even a college debating society expects better logic. It's something like saying "illness is not a failure of health" or "impotence is not a failure of potency".

 

Chidambaram's special financial skills have diversified into electoral politics also. He has the distinction of having been declared defeated in the last Lok Sabha election, after which he galvanized his special skills and local machinery, in particular, a data entry operator, and doctored a marginal victory on the recount. That is quite a record for fraud. And can one forget how the Indian Bank was cleaned up and left with only non-performing assets thanks to him and his Tamil Maanila buddies?

 

Chidambaram's record as Home Minister has been disastrous. Neither has he made any impact on internal security, with the worst massacres of his own paramilitary forces taking place in his time, nor on terrorism, which carries on in complete complacency because there are neither effective preventive or punitive systems in place, nor political will and national legislation to combat terrorism. It is on record and in the public domain that the Home Ministry gave incorrect names of India's most wanted list of terrorists allegedly hiding in Pakistan, some of whom were tracked living in India or in custody. Is this a testament to his fabled efficiency and commitment?

 

What a laughing stock we must be before the world. It is almost as if India is determined that it shall not combat terrorism, shall not have enabling legislation as enacted by the US, such as the Homeland Security Act 2002, and the Prevention of Terrorism Act 2005 of UK and similar legislations in European governments. India is determined not to have an effective national agency on the lines of the Homeland Security Department of the US. The ramshackle National Investigation Agency showed itself as a complete failure during the recent Mumbai attacks. Understandable, because its only mandate appears to be to investigate "Hindu terror", the last refuge for failed and hopeless Congressmen like Chidambaram. The CCTNS, JIC, ARC, NTRO (presently in another scam), and NCTC remain effete, scattered and unmonitorable, even by the Home Ministry. With such an unequivocal determination by the UPA government not to address terrorism effectively, I can only grieve for my country.

 

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COMMENTS: 

 

Krishnan A 01/08/11  at ( 7:36  hrs )

 

These comment are pretty well known to anyone who has been listening to Dr.SS.

 

Interesting to read that Mr.Jethmalani has chosen the right side, at last. I recently saw an old article he had written about Dr. Swamy which one of my 'secular' friends forwarded to add some weight to his (my friend's) criticism of Dr. Swamy.

 

I frankly don't know what to make of his intentions in backing Dr. Swamy. I'd probably be still wary of shape shifters, but his change of heart does indicate one thing clearly - its a good sign. As Dr. Swamy has been telling about the impending troubles for Mr. chidambaram for a while now, Mr. J must have seen signs of things to come and chosen the winning side!

 

It'd be really nice though if this were a genuine change of heart. Dr. SS can get a lot more done with some legal help. But I sure hope Dr. SS keeps an escape route if and when he reciprocates to such positive feelers from Mr. J.

 

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Manoj Narayan 01/08/11  at ( 7:03  hrs )

 

Chidambaram is a Hero to the Fraudelent Corporate or the Elite Media since He has always provided them the way to legitimise their ill gotten wealth and also provided the legal framework to support it.Just as the gang of 7 meets every afternoon at the 5th floor of ShastriBhavan,t o check or checkmate the Media,Chidambar am was the Brain behind backdoor moments.Our Indian Brethren are so naive and have short memory or donot have the viagra to last long.Hence southerners like our esteemed friend from Nungambakkam,ch ennai can rule the roost in Delhi,the city of Lodi,I suppose.Lets support a paradigm shift in polity and governance,made by Indians for Indians by Indians.Lets dump the British borrowed system in the Arabian sea or the bay of bengal.lets rewrite History or create a NEW INDIA THAT HAS THE RESPECT OF PLANET EARTH

 

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Vinita Pande 01/08/11  at ( 2:31  hrs )

 

His name should be shortened to Pappan (sinner) Chidambaram! Great article.
I think US will end terrorism let India focus on ending corruption.
We also need to work on building national unity based on common goals, issues, not try to resolve personality and opinion differences. That's what I see in the "United" States.

The strategic solution side by side is to build values in each one common to all humans, trust, truth, justice, equality. The constitution is also based on values. The health of a country is based on how many people have healthy values.
Indians are weak on identity and social consciousness. We need to personally develop the awareness of "my people" "our country" from "my family" "my house" "my wealth". Another strength I see in US.

Indians and media please stop being self critical. This weakness lets other inferior powers dominate us. Privately you can differ but publicly we must show pride and unity.

I am glad you support Dr. Swamy now. 
 

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Palash Biswas
Pl Read:
http://nandigramunited-banga.blogspot.com/