May 26, 2012

Against the tide [146/365]

How can a politician with no proven educational qualification or the means to generate revenue come to be the guardian and controller of seemingly endless wealth? The story of YSR Congress president S Jaganmohan Reddy make for an interesting chapter on wealth management (if not a Bollywood biopic.)

The son of former Chief Minister of the southern Indian State of Andra Pradesh YSR Reddy, Jagan as he is fondly called multiplied his income a 100 times in the few short years that his father was the chief. While his financial exploits were there for all to see, his father's political clout ensured that the Congress didnt move a muscle when daddy was around. Fast forward to Sept 2009, pappa dies in an accident and all hell broke loose.
A power struggle that threatens to divide the State ensued and the Congress party at the center in a sudden fit of morality and misjudged justice decides to replace the vacuum left by the hugely iconic YSR by a puppet.

Predictably, the son doesn't take this kindly. And rightly so.
Its a child's guess that the Congress party knew all about the dirty laundry and probably got a few goodies for themselves too. However replacing Jagan, with a puppet of their choice, without placating him first was a bad move. Surely, Jagan had his hand deep inside the cookie jar when his father was killed, but he knew how to play to the masses too. Floating his own flavor of the Congress party, he campaigned and fought for sympathy. CBI, the politician's tool of vengence swooped down to put him and his associates behind the bar. As if on cue, his party swept all the sympathy votes. That's one for Jagan, Nought for the Congress. 

While Jagan is admittedly the richest MP in the history of modern India, has the Congress bitten off more than they can chew this time?
Has India's most powerful lady met her match in Jagan?

While Jagan is clearly not as suave an administrator as Modi, he is smarter than Didi because he still has the sympathetic power of the people he rules.
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