Ram Jethmalani was once asked why he defended obvious bad eggs. His disarming reply was he had to earn enough to afford to represent the virtuous poor. 

Since the exchange took place at a party and the questioner was an attractive young woman, Jethmalani was probably being gallant or facetious. 

But many a true word is spoken in jest, and his answer was a reminder that good and bad, legal and illegal, black money and white are often inextricably linked. 

Most lawyers and doctors accept only cash payment without giving a receipt. Real estate - India's most vigorous activity after politics - both creates and absorbs black money. 

Hotels, restaurants, tourism, what are called events and valet parking revolve giddily on cash. 

No wonder the Raja Chelliah committee recommended milking the flourishing service industry with a special tax. 

Ramkrishna Bajaj's preface to Assocham's 1991 report on black money noted that the parallel economy was 21 per cent of India's gross domestic product. 

The economy might collapse if black money dried up. Hawala transactions and terrorism funding, as well as election budgets, would have to find other channels.