{"id":2512,"date":"2016-05-27T21:42:04","date_gmt":"2016-05-27T16:12:04","guid":{"rendered":"http:\/\/13.201.39.237\/?p=2512"},"modified":"2016-05-27T21:42:04","modified_gmt":"2016-05-27T16:12:04","slug":"nirav-modi-wall-street-unending-greed","status":"publish","type":"post","link":"http:\/\/13.207.105.184\/?p=2512","title":{"rendered":"F\/riction: Nirav Modi, Wall Street, & the Glimmer of Unending Greed"},"content":{"rendered":"\n\u00a0\n

I<\/span>t\u2019s raining white-collar criminals in India: In late March, social media was abuzz with news that embattled industrialist-in-exile, <\/p>Vijay Mallya<\/span><\/a>, was getting married for the third time, to girlfriend Pinky Lalwani. A meme started doing the rounds, suggesting that the London-based scamster was forced to take this step because he was \u201cfeeling loanly\u201d. <\/span>\n\nDespite the guffaws, it was a pretty accurate estimate of his <\/span>mental state<\/span><\/a>. The self-appointed <\/span>King of Good Times<\/span><\/a> is, after all, hiding in the UK with over \u20b99,000 crore in debt to various Indian banks. The Enforcement Directorate claims that out of this, \u20b94,000 crore has been siphoned out of the country. <\/span>\n\nIf you think that is avaricious, Nirav Modi truly <\/span>took the cake<\/span><\/a> by literally interpreting the adage \u201ctake the money and run\u201d in the Punjab National Bank scam. <\/span>\n\nOn New Year\u2019s Day, Modi, a diamond merchant from the wealthy Palanpuri clan, fled with \u20b913,000cr in debt. In true James Bond-style, he first flew to Hong Kong, hoping to make it home; when the Chinese refused him succour, he flew out to London in mid-February and parked himself in an apartment near Bond Street for a month. Then he left for New York and has been lurking around Loews Regency, <\/span>540 Park Avenue<\/span><\/a>. Pretty hectic, even for a jet-setter like Modi. <\/span>\n\nBut wait a minute, there\u2019s more: This week, reports emerged that Modi has hired a British law firm to get him \u201cpolitical asylum\u201d in <\/span>the UK<\/span><\/a> \u2014 not a big surprise, because the <\/span>Income Tax department<\/span><\/a>, it turns out, has traced a secret bank account linked to the fugitive at Barclays in\u2026 London. <\/span>\n\nKeeping up with the machinations of Mallya, Modi, & Co. is a mind-bending task. It is the sort of roller-coaster ride that takes us back to <\/span>Wall Street<\/span><\/i>, Oliver Stone\u2019s dazzling 1987 flick on greed and its many repercussions<\/span>.<\/span><\/i>\n\nIn many ways, <\/span>Wall Street <\/span><\/i>is a modern-day morality play: Michael Douglas plays Gordon Gekko, an evil corporate raider. Gordon Gekko spouts maxims on the virtues of <\/span>greed<\/span><\/a> with such \u00e9lan in his raspy baritone that he comes to epitomise it \u2014 a panache that won Douglas an <\/span>Academy Award<\/span><\/a> for Best Actor. However, it is Charlie Sheen who wins our hearts with his endearing vulnerability as Bud Fox, an ambitious stockbroker who bites the bait and suffers a precipitous fall from grace. There is indeed something prophetic in seeing a young Charlie Sheen \u2014 now notorious for his <\/span>cocaine and sex addiction<\/span><\/a> issues \u2014 doing his first line of Colombian talc with a hooker in a limo to get a taste of the good life at the beginning of this film. Further adding to the intersection between life and art is Charlie Sheen\u2019s father, Martin Sheen, who plays the stockbroker\u2019s working-class dad in the film. <\/span>\n

The Banker\u2019s Daughter is riveting for how it reveals the inner sanctums of corporate criminals in the wake of their sins.<\/blockquote>\nThat Carl Fox is a union leader for an embattled low-budget airline in <\/span>Wall Street <\/span><\/i>brings us back to\u2026Vijay Mallya. There is no doubt that Vijay Mallya must have been inspired by Gordon Gekko. While he has neither Michael Douglas\u2019 charisma nor his good looks, Mallya managed to create a chimera of <\/span>tinny glamour<\/span><\/a> around his persona: the yachts anchored in the Mediterranean; the incredibly tacky Kingfisher calendar starring a gaggle of <\/span>bikini-clad models<\/span><\/a> suntanning on exotic beaches; the hopelessly tight suits in our hopelessly tropical climate. <\/span>\n\nBoth Vijay Mallya and Nirav Modi have certainly watched <\/span>Wall Street,<\/span><\/i> but not as a morality play. They watched it as a blueprint for how life ought to be led. It\u2019s a slip that has proved rather costly.<\/span>\n\nIf <\/span>Wall Street<\/span><\/i> offers us a 70mm canvas on the pitfalls of greed, set in New York City, the citadel of capitalism itself, Emran Mian\u2019s uber-stylish novel, <\/span>The Banker\u2019s Daughter<\/span><\/i> (2012), takes us right into the five-star suites of the subcontinent\u2019s unscrupulous folks. Shuttling between London, Beirut, and <\/span>Lahore<\/span><\/a>, <\/span>The Banker\u2019s Daughter<\/span><\/i> tells the story of Hanna Mehdi, the daughter of an absconding <\/span>Pakistani<\/span><\/a> billionaire, Mateen Mehdi of IBCD, a fictional bank that has collapsed in 2006. The novel depicts the nomadic lives of the world\u2019s corrupt elite with such polish that if <\/span>Vogue<\/span><\/i> were to ever finance a horror film of the soul, this would be the result. With tens of millions of other people\u2019s money, Hanna Mehdi is happy to shop until she drops in Beirut\u2019s glitzy boutiques and be featured in the local glossies until\u2026 she discovers the image of a severed head on her father\u2019s laptop. <\/span>\n\nThe Banker\u2019s Daughter<\/span><\/i> is riveting for how it reveals the inner sanctums of corporate criminals in the wake of their sins. How much armour is enough armour to insulate you from your moral compass? \u201cWe travelled for two days, arriving in Beirut by boat from Cyprus. Since then, Baba has lived in this suite, isolated from his <\/span>former colleagues<\/span><\/a>, his old powers dispersed. Or so I thought. With my hands in my hair now, I stare again at the photograph. It\u2019s hard to look at it. It\u2019s hard to look away,\u201d says our protagonist at the beginning of <\/span>The Banker\u2019s Daughter<\/span><\/i>. <\/span>\n\nIt is the inner emigration of our troubled heiress that offers us a rare insight into the psyche of the hyper-wealthy and, more crucially, their disconnect from the world around them. What happens when you take other people\u2019s money and escape familiar shores? It is this evaporation of the conscience that Emran Mian captures so elegantly here, even if father and daughter are indeed a slippery duo. \u201cI am ruined for houses and homes. Ever since I left my flat when Baba came to get me, then, installed in the Saint-Michel, watching on television news a crew of police officers standing around my parents\u2019 house, it is hotels, not private residences, that I associate with safety, refuge, quiet,\u201d laments Hanna, betraying a fatigue with being on the run despite her millions.<\/span>\n\nMaybe the Mallyas and Modis sometimes feel the same way too. Or maybe, I accord them too much of a conscience.<\/span>\n","protected":false},"excerpt":{"rendered":"

With Nirav Modi planning to apply for \u201cpolitical asylum\u201d in the UK, we revisit Oliver Stone\u2019s classic Wall Street. Both Vijay Mallya and Modi have certainly watched the film \u2013 but not as a morality play. They watched it as a blueprint for how life ought to be led.<\/p>\n","protected":false},"author":238,"featured_media":2513,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[82],"tags":[5114,982,5115,1475,5116,5117,180,4255,5118],"class_list":["post-2512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pop-culture","tag-bankers-daughter","tag-black-money","tag-charlie-sheen","tag-corruption","tag-extradition","tag-mallya","tag-modi","tag-pnb","tag-wall-street"],"yoast_head":"\nF\/riction: Nirav Modi, Wall Street, & the Glimmer of Unending Greed<\/title>\n<meta name=\"description\" content=\"With Nirav Modi planning to apply for \u201cpolitical asylum\u201d in the UK, we revisit Oliver Stone\u2019s classic Wall Street. Both Vijay Mallya and Modi have certainly watched the film \u2013 but not as a morality play. They watched it as a blueprint for how life ought to be led.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/13.201.39.237\/?p=2512\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"F\/riction: Nirav Modi, Wall Street, & the Glimmer of Unending Greed\" \/>\n<meta property=\"og:description\" content=\"With Nirav Modi planning to apply for \u201cpolitical asylum\u201d in the UK, we revisit Oliver Stone\u2019s classic Wall Street. Both Vijay Mallya and Modi have certainly watched the film \u2013 but not as a morality play. 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