Reactions to the Supreme Court Decision on 2G India's Supreme court on Thursday revoked the 122 telecom licenses issued by former telecom minister Andimuthu Raja in 2008. As Vikas Bajaj writes in The New York Times: "The move comes after several years of litigation in what has popularly become known as the "2G scam" in India. The controversy, which involved the awarding of wireless phone licenses at a predetermined price set almost a decade earlier, became the rallying cry for a large anti-corruption movement that dominated the public debate in the country last year. Immediate reactions to the decision: Subramanian Swamy, Janata Party chief: "This is collective failure of government of India," he declared, speaking to the media outside the Supreme Court. He also said the Special Investigative Team will not probe the 2G scam, because it now falls under the purview of the Central Vigilance Commission. Mr. Swamy added that he was satisfied with the Supreme Court decision to have the trial court decide the role of Mr. Chidamabaram in the 2G scam. "I'm very happy about that," he said. "This is the best judgment," for all three 2G decisions taken by the Supreme Court on Thursday, Mr. Swamy said. Mr. Swamy was unfazed by a drop in telecommunication stock prices Thursday morning, after the decision was announced. "They've made so much money that a little crash on the paper value of their stocks doesn't mean anything," he said. Ram Jethmalani, Supreme Court lawyer, told an Indian television channel: "The judgment raises questionable controversies." He added, "I'm not sure judgment is 100 percent right." Jethmalani said he isn't worried about the effect of the decision on the telecom companies but the political implications of it. He lashed out at the government and said they shouldn't be in power any longer. "A new government should be constituted in the country," he said. Prashant Bhushan, petitioner and Supreme Court lawyer: He appeared satisfied by the Supreme Court decision during a press conference outside the court. He said the public exchequer will now be able to recover losses through the fraudulent sale of 2G licenses. He said the CBI will now submit reports to the CVC. "This judgment sends a strong signal to the entire country and in particular to the corporate world," said Bhushan. Pranab Mukherjee, finance minister: "We have to examine the judgment and its implications."