Get ready for the next frauds to happen within calendar 2010. Already, danger signs in India. High priced and dubious quality IPO's, banks lending recklessly, accounting fudges happening all over.
The interesting thing is that the analyst community in India will be a party to this rather than find out. Research hiring increasing and sell reports are scarce. Every share is a 'buy' and every IPO is 'subscribe'. Honesty again gets a back seat. With Indian firms ruling the roost in the audit field,post Satyam, expect more creative and Nobel prize worthy accounting.