Another kind of risk

There's a hackneyed saying that 'when the going gets tough, the tough get going.' As I've written earlier during the pandemic, this will undoubtedly prove to be true about many businesses. All businesses will suffer, but the strongest ones will suffer less and recover faster. As a result they will come out on the other side even further ahead of their competitors. However, there is a sort of a reverse of this saying too. Good times, even moderately good times, enable marginal or questionable businesses to sweep problems under the carpet and pretend that they do not exist. On January 7th, 2009, at the height of the global financial crisis, B. Ramalinga Raju, the founder and CEO of Satyam Computer Services announced, in a letter to the company's board, that he li