A short answer to those who find the 2G verdict shocking, unfair or lacking in foresight: all those adjectives are correct but should be applied to the UPA decisions, and not to the court ruling on them.

Another short answer to those who think poor consumers will now have to bear the brunt: citizens are better off paying a rupee more for fair play. It’s cheaper that way, then letting the Rs 1,76,000 crore booty go.

For a long answer to these and other questions, we will turn to good old Aesop.

* * *

A gentleman was throwing a great feast and invited a friend to supper. The gentleman's dog, meeting the friend's dog, "come," said he, "my good fellow, and sup with us tonight." The dog was delighted with the invitation, and as he stood by and saw the preparations for the feast, said to himself: "Capital fare indeed! This is, in truth, good luck. I shall revel in dainties, and I will take good care to lay in an ample stock tonight, for I may have nothing to eat tomorrow." As he said this to himself, he wagged his tail, and gave a sly look to his friend who had incited him. But his tail wagging to and fro caught the cook's eye. Seeing a stranger, he straightaway seized him by the legs, and threw him out the window to the street below. When he reached the ground, he set off yelping down the street; upon which the neighbours' dogs ran up to him and asked him how he liked his supper. "In faith," said he, with a sorry smile, "I hardly know, for we drank so deeply, that I can't even tell you which way I got out."

Moral of the story: Those who enter by the backstairs must not complain if they are thrown out by the window.

* * *

Even by the enviable standards of financial scandals, this one went through the roof. The figure of presumptive loss, Rs 1,76,000 crore, shocked all of us – except some in the telecom industry. A politician was “virtually gifting away an important national asset at throwaway prices”. That, according to some, was a very good signal for FIIs, who are allegedly scared now that the proverbial Augean stables are going to be cleaned. By this logic, a banana republic provides the best invest climate, which would also explain most of the Manmohan Singh government’s (in)decisions. Beginning afresh with a clean slate and auctioning the spectrum is bound to hurt the genuine players (who are behind a total of five percent of the 122 licences cancelled, according to Trai chief JS Sarma), though not the exchequer.

What is behind the shock and surprise in some quarters? It is the idea that governance in general should consider business interest first. As it happens, the UPA has indeed made it the guiding principle of governance.

The supreme court didn’t. This can be the start of a much needed course correction. A fair and transparent investment scene should actually encourage the right sort of investors.