It is tempting but illogical, given the evidence on the black economy, to imagine that it is only public institutions that have suffered from this degradation. The problem is not confined to "those dirty politicians and selfish bureaucrats". For every bribe taken, there must be a willing giver, and that giver must be one of us. And every giver must benefit from the giving of a bribe. So, logically all—or some—of us, the elite, are as much beneficiaries of the process of corruption as are those who visibly benefit from its proceeds. One must have in order to give. So, as is so often the case, corruption is revolting to the very elites who are the beneficiaries of its existence and accessories to the process. I used to work as an investment banker in a multinational bank in the late 1980s and I once asked my boss: "Is there anything we do except make money for the bank?" "Of course not," he said. "What else should we be doing?" (I copped out and became a phoren academic, of course). It was common practice in the bank to obtain insider information through side-payments to those in the know (brokers, city journalists, middlemen etc), a practice which culminated in its implication in the biggest stock-market ‘scam’ that India has ever seen.(Harshad Mehta was our biggest broker!) These practices were acceptable to the very people who complained about "those bloody money-making bureaucrats and politicians" and bemoaned the decline of a "merit-oriented" society.