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“Make them pay for meltdown” (Business Line, September 15) rightly observes that the onus of compensating the losses of investors in such entities as Lehman Brothers, Merrill Lynch and AIG vests squarely on the CEOs and CFOs equally.

They need to be booked under corporate criminal fraud and made to cough up as much as possible; private properties acquired by them should be liquidated as much as their bank account balances, not to mention the annual awards bequeathed. The CFOs are as guilty as the CEOs. It is only ‘just and fair’ that the US law refrain from being a blind spectator and take the necessary action.

Manipulation and fraudulent accounts that were given the green signal by auditors, even though they are a third party, merit punishment under the Law.

If need be, such auditing firms, need to be blacklisted and the firm asked to defray the losses incurred.

Ashok Jayaram Bangalore

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