Ex-banker turned Hindu monk urges Wall St to meditate

Rasanath Das, an ex-investment banker turned Hindu monk, was spending recent Sunday afternoons leading Occupy Wall Street protesters in meditation until police cleared their camp at New York's Zuccotti Park this week.

The 32-year-old monk isn't sure now where his next session will be. He'll keep following the protesters to lead meditation, though, convinced they will only roll back the inequality around them if they find equanimity deep inside.

"Anger won't solve anything," he said. "We have to work from the heart ... there is so much distrust now."

Das has been a discreet presence at the protests, leading short sessions before making way for other religious leaders to preach at a weekly interfaith service. What he doesn't tell is the unlikely story of how he ended up in Lower Manhattan.

A native of Mumbai, Das studied at the Indian Institute of Technology (IIT) and moved to the United States in 2000 to work as a consultant with the accounting firm Deloitte.

After earning a masters of business administration (MBA) at Cornell, he started at Bank of America in 2006.

His specialty was the technology, media and telecoms sector and he dealt in so-called structured products, including mortgage-backed securities -- "the things that blew up, the toxic products" as he put it in a telephone interview.

Das had studied this market but remained baffled by it even after he began trading. "I saw people I considered much smarter than I was, and they really believed in them, so I didn't open my mouth," he said.

"MUSICAL CHAIRS"

As world markets began to crumble in 2007, a superior told him: "You have to realise this is a game of musical chairs when the music stops, the person or bank that has the assets sitting on his books loses."

"The far-reaching consequences for the economy were not something he would foresee," Das said. His doubts grew until, the following year, he found himself working on a merger and acquisition project for Playboy magazine.

It struck him as absurd trying to sell sex when the economy was collapsing and people were losing their jobs. "It was not that I hated the industry or the people I worked with," he said. "But I began to see the shallowness in that world. I wanted to be part of something authentic and deep."

In fact, Das was already linked to that something. Since 2007, he had been living in a Hindu monastery in Manhattan's East Village. "I was living out of a large closet, with four suits and button-down shirts," he said.

"I slept on the floor and lived the life of a monk."

Das had been practicing karma yoga, the Hindu path of selfless service to the divine, for a decade before moving into the monastery in 2007. As part of this active service, he used his $170,000 annual salary to help finance the monastery.

"Living in a monastery was a very strong safety belt to make sure I kept my inner core," he explained.

CORPORATE CHAPLAIN

When he quit in late 2008, one Bank of America manager praised his courage and another said he was making the worst mistake of his life. Several colleagues confided their discontent to him and some also quit, he said.

Das admitted it was hard to give up the perks and prestige of the investment banker's life, but it wasn't what he wanted.

"It was only after joining the monastery that I began to understand the prison of Wall Street," he said. "I didn't hate those people but I began to understand what drives them and how much shallowness and suffering is there inside."

Das has left Wall Street but not the financial industry. Part of his new work is speaking at corporate retreats about leadership and self-awareness to help managers get beyond the greed he sees driving the financial industry.

After a local newspaper recently profiled him, two high-flyers from the investment bank Goldman Sachs visited him at the monastery to discuss the financial crisis. "They're coming back again soon," he said.

Das sees his work as a kind of corporate chaplain who could help build character in managers and help avoid disastrous decisions made when short-term goals prevail. More regulation of the financial industry may be needed, but only a higher consciousness will help in the long term, he said.

Asked if protesters and profiteers could develop this higher consciousness, he said: "I keep my expectations low but at the same time I keep my enthusiasm high.

"I've met so many people who want to make a change. To me, that's very inspiring."

Post new comment

<form action="/comment/reply/107802" accept-charset="UTF-8" method="post" id="comment-form"> <div><div class="form-item" id="edit-name-wrapper"> <label for="edit-name">Your name: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="60" name="name" id="edit-name" size="30" value="Reader" class="form-text required" /> </div> <div class="form-item" id="edit-mail-wrapper"> <label for="edit-mail">E-Mail Address: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="64" name="mail" id="edit-mail" size="30" value="" class="form-text required" /> <div class="description">The content of this field is kept private and will not be shown publicly.</div> </div> <div class="form-item" id="edit-comment-wrapper"> <label for="edit-comment">Comment: <span class="form-required" title="This field is required.">*</span></label> <textarea cols="60" rows="15" name="comment" id="edit-comment" class="form-textarea resizable required"></textarea> </div> <fieldset class=" collapsible collapsed"><legend>Input format</legend><div class="form-item" id="edit-format-1-wrapper"> <label class="option" for="edit-format-1"><input type="radio" id="edit-format-1" name="format" value="1" class="form-radio" /> Filtered HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Allowed HTML tags: &lt;a&gt; &lt;em&gt; &lt;strong&gt; &lt;cite&gt; &lt;code&gt; &lt;ul&gt; &lt;ol&gt; &lt;li&gt; &lt;dl&gt; &lt;dt&gt; &lt;dd&gt;</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> <div class="form-item" id="edit-format-2-wrapper"> <label class="option" for="edit-format-2"><input type="radio" id="edit-format-2" name="format" value="2" checked="checked" class="form-radio" /> Full HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> </fieldset> <input type="hidden" name="form_build_id" id="form-23e480a0a679fe2ea3caef5c916c6fe2" value="form-23e480a0a679fe2ea3caef5c916c6fe2" /> <input type="hidden" name="form_id" id="edit-comment-form" value="comment_form" /> <fieldset class="captcha"><legend>CAPTCHA</legend><div class="description">This question is for testing whether you are a human visitor and to prevent automated spam submissions.</div><input type="hidden" name="captcha_sid" id="edit-captcha-sid" value="80625064" /> <input type="hidden" name="captcha_response" id="edit-captcha-response" value="NLPCaptcha" /> <div class="form-item"> <div id="nlpcaptcha_ajax_api_container"><script type="text/javascript"> var NLPOptions = {key:'c4823cf77a2526b0fba265e2af75c1b5'};</script><script type="text/javascript" src="http://call.nlpcaptcha.in/js/captcha.js" ></script></div> </div> </fieldset> <span class="btn-left"><span class="btn-right"><input type="submit" name="op" id="edit-submit" value="Save" class="form-submit" /></span></span> </div></form>

No Articles Found

No Articles Found

No Articles Found

I want to begin with a little story that was told to me by a leading executive at Aptech. He was exercising in a gym with a lot of younger people.

Shekhar Kapur’s Bandit Queen didn’t make the cut. Neither did Shaji Karun’s Piravi, which bagged 31 international awards.