16 December, 2017

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Net Closes In On Arjuna Mahendran, As COPE Summons Him Next Week

The net appears to be closing in on the outgoing Governor of Central Bank Arjuna Mahendran, with the Auditor General implicating Mahendran in the first bond issuance which has resulted in the country losing a staggering Rs. 1.6 billion rupees, the Colombo Telegraph learns.

Arjuna Mahendran

Arjuna Mahendran

The highly anticipated Auditor General’s report containing details on the treasury bond transactions was handed over to Speaker Karu Jayasuriya and the Parliamentary Committee on Public Enterprises (COPE) on Wednesday.

The Colombo Telegraph reliably learns that the Auditor General’s report has been highly damaging to Mahendran.

Meanwhile, the COPE has decided to summon Mahendran for an inquiry next week.

COPE Chairman Sunil Handunneththi told Colombo Telegraph that the committee will meet on July 5 to discuss the AG’s report in detail.

“We have also summoned officials from the Treasury, Central Bank including its Monetary Board for an inquiry,” he said

The Auditor General today submitted a report comprising of over 1200 pages to Speaker Jayasuriya, while a summarized report was handed over to COPE, which is currently carrying out an independent investigation into the bond transactions carried out during Mahendran’s term as Governor.

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  • 9
    3

    It is critical for the Yahapalanaya to show their transparency and accountability of even their ‘own’ men by handing over the investigation to the FCID! Even if he becomes a fall guy and if he has really done it he should by hanged by his B….o…..lls. Yahapalanaya is not a word coined to con the people for a vote! It really means good governance!! Illustrate this by handing it over to the FCID if found guilty by COPE! Even if Ranil let’s his buddy loose, Singapore government will have a lot of questions. Another roll over effect will be, the present ministers will s..h..iiii.T in their pants and will think twice! Over to you Ranil and MY3!!!!

    • 14
      23

      What kind of qualification has the auditor general obtained ?

      Who knows like JVPrs he too got twisted by all the hypothetical calculations made by them ?

      I still believe AM is innocient as an experienced Banker he would not make any efforts to grab the funds to please him.

      • 4
        2

        Sama

        “What kind of qualification has the Auditor General obtained?”

        You mean he’s also risen with political patronage!

        “Who knows like JVPers he too got twisted by all the hypothetical calculations made by them?”

        You think JVPers are twisted by hypothetical calculations: you’ve a duty to substantiate after mentioning. I’m sure you’ve facts, please present them to make people aware.

        “I still believe AM is innocent as an experienced banker he would not make any effort to grab the funds to please him”

        Unless to please him. to please whom?

        • 1
          4

          Sama is correct. If anyone can prove it, they had a enough time and freedom to do so. Prove it! or follow the MR and Wimal Weerawansa path as they did in the past, no justice , we are the judges , you are the culprit method. As PM says, prove your allegations and he will take the ncessary actions without any hesitation. Do it now. He is out of the CB now.!

      • 1
        1

        @Sama, if you are too stupid to understand what really happened (i don’t believe you are), please watch the video (link given). You will know at the end of 4 minutes video.

        https://www.youtube.com/watch?v=yi1d3rnAsMg

        /Huna

        • 5
          2

          This is an another effort to attack him. Nothing more.
          Biased videos will destroy the faiths of investigators. Be careful.
          World is watching. This is a number 1 conspiracy against AM.

          Wait and see, truth will surface int eh days to come. And not forgetting he will explain each and everything about the issuance on the 7th.
          Regardless of this issue, INVESTIGATIONS on allegations being levelled at MR should go foward. There we will learn more.

      • 1
        1

        Yahaplana principles reverberate on the yahapalana architects. That is sad. In a country not facts are being discussed by media men due to their mafia nature… people could become permament fools. As a results of that only AM is seen as the corrupted man here. But in reality he is an another victim of number 1 grade.

    • 2
      0

      Once proved guilty, we not only want them prosecuted but also the stolen money restored. Too much money has been played out by too many people. Stop penalizing us with VAT etc and bring the stolen booty back.

    • 2
      3

      All these are baseless… hypothetical.

      Like for example: Had the Mattala project been studied before, the country could save billions…

      Like for example: Had Tsunami NOT hit the nation, over 50 000 would have still been alive…..

      but agendas to mitigate the charges being levelled at MR et al.

      But let us see it ..

      World is watching at us.

      • 0
        0

        World don’t give a s##t about what happens in Sri Lanka. I know some Sri Lankans with hyped up ego & self importance honestly believe in their naiveté Rest of the world is obsessed with Sri Lanka.

  • 16
    12

    Mahendran’ and son-in-laws assests must be frozen in cooperation with the Govt. of Singapore.

    Another inquiry is due into the corruption of Ajith Nivard Cabraal who was also involved in Insider trading and currency manipulations which cost ordinary citizens and the country.

    The impunity and immunity enjoyed by the financial criminals who ran the Central Bank for the past 10 years must END.

    Dr. Raghuram Rajan, the brilliant and honest, Head of the Reserve Bank of India who is stepping down because of political interferance in New Delhi should be invited to clean up the CB of Sri Lanka .

    • 4
      18

      Mr Don Stanley.
      There is not a single allegation of corrupt bond dealing against Former Governor Ajith Cabraal.
      This country is awash with NGOs, the lackeys of CIA,Norway and the neocolonial Wesern European countries.
      Smears, innuendos would not save the puppet regime of Ranil.

    • 10
      2

      “”Dr. Raghuram Rajan, the brilliant and honest, Head of the Reserve Bank of India who is stepping down because of political interferance in New Delhi should be invited to clean up the CB of Sri Lanka . “”

      You need to send the whole country to the dry cleaners for voting 68 years of misery.

      Lakshman Kadirgamar, Rajaratnam, You want another Tamil to wet your pants??
      There is no dhobi class to bless you.!
      He is Brahman IIT Delhi gold medalist and his diplomatic response to IIT Delhi maths teacher Dr Swamy- My mother in law would say do Kundalini Yoga….and work on it. (Dr Swamy mother in law is foreign refugee)
      He is a smart Delhi walla and his pop was RAW detective officer.
      His wife teaches at Chicago and he is still professor at Chicago.

      His fight started when Modi and Arun without his permission pilfered $1.5 billion and swapped it for SLR- 15/1/2015- SL is not credit worthy was his point when he gave them both a dressing down.
      Dr Swamy the one man army may fire modi for losing the nuclear deal and get fired for good.
      Don’t propose the names of international calibre when lanka is fit for working class tourist from UK.

  • 7
    7

    For the culture of corruption and impunity at the highest levels of the SL Central Bank which has been run by incompetent crooks to end,

    1. Dr. R. Rajan, from RBI should be invited even as a Consultant to lead the Sri Lanka CB and clean it up – also this would be a favour to the Tamils of Sri Lanka who are embarrassed by the bad reputation brought upon our community by crook Mahendran. Dr. Rajan is a Tamil with impeccable credentials and honesty/

    2.Ranil Wickramasinghe and Sira need to apologies to the people of Sri lanka for appointing and then keeping Mahendran so long and ensure that he is prosecuted and his assets in Singapore and Dubai and elsewhere in US and Canada frozen.

    • 2
      6

      The Indian Media will make anyone whiter than one. Rajan is not in the all clear with regard to his stint at RBI. From giving Banking licensing to firms that do not meet the criteria and worse involved/investigated for Money Laundering to covering up attempts at CBI/ED investigations and tipping of close families about impending actions.

      The total NPAs of banks in India has touched 8Lakh Crores and the RBI is still unwilling to open up the list and details.

      Rajan’s father was RAW head in Colombo and his actions then are not beyond reproach. A reason why Rajiv Gandhi overlooked him for the position of head of RAW (based on IB advice).

      There are plenty of Sri Lankans who can help, there is no need for new Trojan horses.

      Arjuna Mahanedra did not leave a high profile high paying to come back and indulge in corruption in Sri Lanka. The political masters who were pulling his strings as expected dropped him like hot potatoes when it no longer served their purpose. A lesson people never learn in SL.

      • 3
        2

        VK

        “There are plenty of Sri Lankans who can help, there is no need for new Trojan horses.”

        Please name one Sri Lankan who has unblemished track record and capable of grasping complex economic/finance issues.

        Perhaps you have either Ajith Nivard Cabraal or Wimal Weerawansa in mind.

        • 0
          5

          Vishnu Mohan, shantha Devarajan, G.Wignaraja, Uswstte aratchi….

        • 1
          5

          Native,

          How about Saman Kelegama as the Central Bank Governor?

          Raghuram Rajan’s economics is highly questionable. Please see links below for two articles by Paul Krugman on Raghuram Rajan.

          http://krugman.blogs.nytimes.com/2010/07/29/the-work-of-depressions/?_r=0

          http://www.nytimes.com/2012/05/11/opinion/krugman-easy-useless-economics.html

          • 7
            1

            You are turning out to be typical LTTE Swamy. DR R R and many Tamil Brahmins living in north India do not speak in tamil and study Sanskrit at college. Can’t you see the Nadu billboards.
            Anyway he refused to fund the Dosa industry unless they industrialised.
            To industrialise and obtain FDI the government must frame patent right laws and copy right laws. So India has not grown.

            5 Charts That Show How India’s Economy Performed Under Rajan

            When outgoing Reserve Bank of India Governor Raghuram Rajan took the bank’s top job in 2013, the Indian rupee was at an all-time low, inflation was soaring and the country was counted among the ‘fragile five’ economies.

            Industry stalwarts have praised the policies of Mr. Rajan, who announced Saturday he plans to return to academia in September, saying they have helped stabilize Asia’s third-largest economy.

            These charts show how India’s economy has changed during Mr. Rajan’s tenure.
            http://blogs.wsj.com/briefly/2016/06/21/5-charts-that-show-how-indias-economy-performed-under-rajan/

            • 2
              7

              The worst performance according to these graphs happened when Rajan was CEA (Chief Economic Adviser) … I rest my case.

              • 7
                1

                “… I rest my case. “
                I don’t believe you ever read a graph.

                You would be better off blowing yourself up like your god fatty vp.
                LTTE Swamy is in for a lightning flogging by Modi.

            • 1
              4

              Pistachio,

              LTTE Swamy?

              What have you been smoking? Can I have some?

              Subramaniam Swamy wanted India to commemorate the defeat of the LTTE through its highest award. He was invited by the Rajapaksas for the defence seminar in 2012. The full-text of his speech can be seen at:
              http://www.dailymirror.lk/21014/victory-over-the-ltte-should-be-honoured-dr-swamy

              —————————–

              “Anyway he refused to fund the Dosa industry unless they industrialised.”

              There is nothing wrong in a nation having the Dosa as its bottomline. Switzerland’s bottomline is the cuckoo clock and look at where they are.

              Indeed, there is no country in the world that has a well-defined bottomline, economic or otherwise. Let’s take the case of Sri Lanka. At the last presidential elections in 2015, the large majority of the Sinhalese voted for Mahinda Rajapaksa even though the United States and Britain promised economic sanctions. The popularity of Donald Trump over Ted Cruz in the nomination race is also a case in point and demonstrates that the bottomline in America was not about industrialization or profits.

              All in all, you seem to be suffering from what economists call a “manufacturing fetish,” whose ideological roots come from Marxism. Jagdish Bhagwati of Columbia University has written an article about this and you can view it at:
              http://www.themoscowtimes.com/opinion/article/the-computer-chip-vs-potato-chip-debate/414565.html

              Computer chips, potato chips. What’s the difference?

              —————————–

              Ever since Raghuram Rajan took over as Governor, he made curbing inflation his primary focus.

              Well, here’s a parting shot that Robert Solow made famous:

              “Everything reminds Milton of the money supply. Well, everything reminds me of sex, but I keep it out of the paper.”

              • 4
                0

                Keynes!

                A few years ago Subramany confirmed that he arranged underwater commando training for LTTE in Israel.

                My Elders tell me in the 1980 he was very active in promoting LTTE as the key factor in Hindia’s gunboat diplomacy.

                He has been friends with everyone and none at the same time.

                • 2
                  3

                  Native Vedda,

                  “A few years ago Subramany confirmed that he arranged underwater commando training for LTTE in Israel.”

                  Show me the confirmation.

              • 5
                0

                Keynes!
                example of how far in Kundalini Yoga reaching Modi))))

                “What have you been smoking? Can I have some?”

                ambode in your tea tab??
                Havanas occasionally so please try Cuba.

                “There is nothing wrong in a nation having the Dosa as its bottomline.”

                He used it as an example at campus but not bottom line-
                `the same mindsets making dosa and inability to industrialise in the world.

                tea distributor,manufacture and deliver is beyond putting tea in a cannister and selling it at higher prices but that lecture was picked affectionately as dosanomics.- its the new delhi culture.

                “wanted India to commemorate the defeat of the LTTE “

                Is that why MR hangs himself from a rope than easy with Tai chi??
                India has not finished with to celebrate.

                “even though the United States and Britain promised economic sanctions.”

                it’s no example of reality- be sensitive of the past.
                Passion holds up the bottom of the world, while genius paints its roof.

                “Donald Trump over Ted Cruz”

                turning point in race was native trump vs robot cruz.
                Now its policy,character etc for polls H vs T.

                “All in all, you seem to be suffering from what economists call a “manufacturing fetish,” whose ideological roots come from Marxism.”

                Egotistical thick head from Hegel, go chuck the dielectric in your working class luggage. Fascist or communist, left or right,he never calculated the je ne sais quoi factor.
                Keep serial economic malfunctioning to Greenspan as your benchmark-world of economics world markings, exponents of lingua of spin in the nude.

                Try not to display your weak `arts` subject in public as all encompassing logic, end in all – life itself is not logical.
                Bottom line observe ants rationality yet we are human.

                “Computer chips, potato chips. What’s the difference?”

                The contrast is relative, the two setting forth only two great extremes, and between them there are many intermediate stages.

                “Ever since Raghuram Rajan took over as Governor, he made curbing inflation his primary focus. “

                That’s what he was invited to do by Dr Manmohan.- length of time?

                “Everything reminds Milton of the money supply. Well, everything reminds me of sex, but I keep it out of the paper.”

                A passionate nature always loves woman, but one who loves woman is not necessarily a passionate nature.

                who tastes but half is wise and cleverest.Ha ha ha))))

          • 6
            1

            Keynes! ,
            Like most arts graduates Paul Krugman has gone senile after Ted (Laxmi) expired. Democrat leech!! His way is not the only way. DR R R comes from electrical and electronics gold medal background- you must understand signals which is beyond economics its industrial engineering that creates all that 3D printing.

            BREXIT: All the multinationals and Democrats in particular must be scratching their **** that the vote went against but not the Anglo Saxons nor the Queen because we know what transpired during WW1 and sale of land.
            Yesterday the FTSE rose, The £ rose against the $ and € and it will keep on rising.- Confident Mark Carney and the British people.

            It means Russia wins against US trade sanctions and Germany loses.
            While once again UK will have to be the mediator.

            Why is the man who invests all your money called a broker?

            If con is the opposite of pro, is Congress the opposite of progress?

            Why don’t sheep shrink when it rains?

      • 8
        2

        VK,

        Rajan is not in the all clear with regard to his stint at RBI. From giving Banking licensing to firms that do not meet the criteria and worse involved/investigated for Money Laundering to covering up attempts at CBI/ED investigations and tipping of close families about impending actions. “

        You may be a tiger like former Tiger front man Dr Swamy who accused him of being a foreigner No more.

        Now Dr Swamy is attacking Jaitley for proposing the next best in the country economist Arun a tamil.

        He wanted all banks to close books on bad debts than keep it pending to avoid fraud. that has angered business houses.
        Brexit in principal was against multinationals.

        Wherever Lankan tamils congregate there is fraud – Emil soundranayagam, Rajaratnam- for a small population a large number of frauds. no wonder the Sinhalese employ you.

      • 6
        0

        Wall Street Journal
        Modi Defends Reserve Bank of India Governor Raghuram Rajan
        Mr. Modi say creating controversies about Mr. Rajan’s nationality is ‘unjust’
        (India cant afford to lose him; he was to be the next IMF chief but the doors were blocked French woman – white only and backed by Merkel her friend. Now Merkel is in trouble after Brexit and Russia is hitting germany. so india needs Dr R R to rise above the rest. Modi knows Swamy would try to shoot him too. but if Dr R R stays that is the end of Dr Swamy the tiger!!
        By GABRIELE PARUSSINI
        Jun 28, 2016 1:09 pm IST

        Indian Prime Minister Narendra Modi on Monday said attempts to cast doubt over outgoing central bank governor Raghuram Rajan’s nationality or his love for the country were “unjust.”

        Mr. Modi, speaking just over a week after Mr. Rajan said he would return to academia when his term at the Reserve Bank of India expires in September, said the claims made by a senior member of his Bharatiya Janata Party, were wrong.
        “Those who are creating controversies are being unjust to Raghuram Rajan […]. I believe Rajan’s patriotism is no less than any of ours,” Mr. Modi told a local news channel in a rare TV interview. “I appreciate the work he has done.”

        BJP leader Subramanian Swamy wrote two letters to the prime minister last month seeking to oust Mr. Rajan before his mandate expires. In the letters, Mr. Swamy said that Mr. Rajan was “mentally not fully Indian” and that he had “willfully” wrecked the economy.

        Mr. Swamy, a prominent representative of the BJP’s more traditionalist wing who has a large Twitter following, has also attacked other highly-placed bureaucrats he says are loyal to the opposition Congress Party who appointed them, including the government’s chief economic adviser Arvind Subramanian.
        http://blogs.wsj.com/indiarealtime/2016/06/28/modi-defends-reserve-bank-of-india-governor-raghuram-rajan/

    • 8
      2

      1. Dr. R. Rajan, from RBI should be invited even as a Consultant to lead the Sri Lanka CB and clean it up – also this would be a favour to the Tamils of Sri Lanka who are embarrassed by the bad reputation brought upon our community by crook Mahendran. Dr. Rajan is a Tamil with impeccable credentials and honesty/2

      He is more of a delhi walla than a tamil- and won’t fall for your stupidity as much as he has not fallen for Arun or modi arrogance.

      The next man for RBI is also a tamil from Delhi Arun the economist who will not come because according to them SL is not credit worthy.

  • 9
    5

    Former Auditor General Mayadunne went down the drain by sucking up to JVP. The silly bugger had to even abandon his contested and won seat. He slept with dogs and woke up with fleas! The present one apparently in collusion with the same bunch and continuing the tradition of the former bungled with figures and got the flack of PM! A true professional would not have made these bungles and hence there is every reason to doubt his integrity. His jumping up and down giving voice cuts to Sirasa padanguwa is telltale signs where he stands up. Such an Auditor General would interpret facts according to his affiliations, interests and worldview. The tone and tune of of CT in presenting this and other articles on the subject smacks of foul odour originating from the deepest Rajapaksha day gullies. Since after the Rajapaksha wanachara decade shot its cancerous roots deep into the soul of the people on this land, every story told contains more emotional, imaginary, hypothetical, sensational and run amok material than facts, proportionality and sense. Looks like people have got used to scavenging than live on reality-a surreal scenario of a nation loving illusion.

    There are million and one issues investing this nation but none is more important than bond, vat etc. The real rogues oppose installing security cameras at the customs but no one talks, HIV is spreading rapidly but no one talks about legalizing and managing prostitution which will enable infected identification, quarantine, prevention, hygiene and reduction of unrest and sexual crimes-instead they would boast of 5000 years or more or less of great Sinhala Buddhist culture and values; the future of this country, the youths, the university students are being used as political guinea pigs by JVP and the Hotugami by destroying their education and future and creating vast social and economic problems-no one is bothered about solving it; the Kasippu, alcohol, heroin etc. menace is engulfing the vast sections of the youths and creating massive problems for the economy-no one is really interested in ending it; there is overwhelming corruption, inefficiency, robbery etc. but no one cares; there is widespread and sprawling environment destruction, pollution, deforestation etc. but no one emits a fart over them. All of these baldi katas only bark at the most trivial thing that will most easily keep the interest of the uneducated public going so that the pack can survive without going into oblivion.

    • 2
      2

      I am full agreement with you Silva.
      Having listened to what AG to add to Bandula yesterday, I did not have a good impression on him.
      I believe, the media men worked for Rajaakshes goons to let this issue to be painted as AM harmed the country .. as no other.. but in the reality, Mahinda Rajakahe and Cabral almost looted the treasury. No decisions took by them were open to the every simple simons as it isthe case today.
      Who dared to utter a single word even if their lovely ones would have been raped out by Rajaakshe goons. No body. People have forogtten the saddest past which was not even two years ago. I hate this folks … I am still in the view AM has been made a victim by brutal propaganda… irresponsible propaganda of goons in the country. Rulers have lost over the control of propaganda since they are bound to set media free as promised. But there should be some restrictions with the kind of topics.. else, every idiot would drop their thoughts on the issue… Like the case inteh uk, some germans say, that should have been called.. but they did… it ended up with creating divisions inthat country… 52% are pro.. 48% aagainst Brexit… so the latter has no voice in the future… that is the other side of the democracy…

      • 1
        1

        Simon De Silva,

        The JVP’s web padanguwa says one of the findings of AG’s report is that after the auctions began in place of private placements xxx + xxx and more millions of rupees were lost to the government that could have been prevented by a professionally acting CB Governor! This is utter bullshit emitted by a bloody fool appointed as AG because that xxx + xxx millions are the amounts Rajapaksha regime robbed from EPF contributors and bank depositors by determining the interest rates by the Rajapaksha family and ponna Cabraal! Look, now we get about 12% per annum interest rate for our deposits which offer some measure of reasonability and balance vs inflation for the hard earned money of deposits. But what did Rajapakshas did? They waylaid the EPF and bank depositors and gave a Madamulana determined meagre interest rate of about 5% to the deposits which was even below the inflation rate that prevailed at that time! This is daylight robbery of our money! This JVP colluded AG monkey is totally blind to this fact of the mismanagement of the economy. How can a country progress with this kind of donkey AGs, JVPers, civil activists et al?

        This whole conspiracy against AM is not the issue that they dangle outwardly. This whole project is targeted towards RW. Because of their anger, jealousy, hate towards and sense of defeat in front of RW they have been looking for an opportunity to attack RW and they fabricated this issue. Earlier they thought RW will not be able to recover the country and economy from the horrendous precipice MR shoved this country to. But RW gave concessions to people-salary increased, prices of fuel and essential goods reduced substantially, there were high hopes and prospects that foreign investments would come and jobs will be created, and there were real signs that the high hopes were going to materialize. It is these foreboding signs for JVP, MARA faction et al that made them create a false issue to agitate the society.

  • 4
    3

    If it is finally found that Mahendran is guilty to the charges of having vested interest and acted in an unprofessional and questionable manner the people who defended him ie; Ranil and some key Ministers who acted like Parrots, should be ashamed of themselves. The nature of crime is much more greater than what Mahinda and the clan did as UNP- Maithri coalition came to power promising to eradicate corruption and re-establish Good Governance in the Country! Sirmanne

    • 1
      1

      Dont categoarically say, that he is guilty here, we dont know yet to draw conclusions.
      I still beleive he is no means corrupted. I have listend to him and I have even heard only clean nature of him over the years. This I believe to have been doing to put UNP away from the power.
      President has to decide it neutrally…. not attacking any parties if prima facie evidence are not avaiable. On hypothetical basis to charge professionals will not be see and transparent by developed world.
      This will nto end up in srilanken COPE, but will closely be studied by WORLD leaders of Eu, America and others.

    • 0
      1

      Sirimanne,

      “If it is finally found that Mahendran is guilty to the charges of having vested interest and acted in an unprofessional and questionable manner ….”
      [Edited out]

  • 4
    4

    The International community, specially USA & India will closely watch
    as to how the govt. and COPE will handle Governor Mahendran’s case as, if Mr. Mahendran felt that he faulted ,he would have vanished to SIN
    or Dubai with the help of his buddy PM Ranil,without being questioned but on the contrary, he seems to be well prepared to face the charges and get himself exonerated of all charges, before he decides to leave
    or stay with CB. By staying this long with the Bank, it is crystal clear that he has not done anything wrong in conducting business in
    CB but certainly got caught to inside conspiracy to oust him before
    he set foot in the bank. It is the Jnt.opposition and communal forces are against the governor because of his ethnicity and they will find it difficult to prove that Mr.Mahendran was involved in corruption.
    The IC will view it as discrimination against the minority at a time the govt.brags about the efforts being put into reconciliation work and
    at the same time Mr. Sampanthan, Leader TNA & Op. leader has complained
    to the President about discrimination meted out to educated and qualified Tamil youths in employment in govt. sector. The Tug o war between the CB Governor and COPE will be interesting to watch.Majority
    of the educated people think that PM Ranil would not have recruited a
    crook to handle CB as he himself does not deal with crooks.

    • 4
      2

      If the sums that should have gone lost are hypothetical – he must not be accused this way..you can reject anyone…. this is not what we should be busy with right at this critical juncture of lanken economy… this is very unfair. I hate the way this started – JVPers festated by accusing the GOVERNEER not knowing the details well. As it is very common lanken folks, that spread viral.
      AM never uttered a single word in his speech given to lanken TV that he should have gone wrong with the decisions made by him in terms of bond issuance. This is nto the first time, the person should have met with the kind of decisions. That alone gve me the feeling it was the media and some men being against to him and UNP thought to promote this against him.

  • 4
    2

    Here is the Singaporean’s own take on the two Yahapalana Bond Issues.

    Galleon wanted 10 Billion in Feb 2015.

    The Singaporean called for 1 Billion .

    Reason he gave was if he called for the full 10, the bidders would have wanted more than the going rate.

    15 Dealers submitted bids to the tune of 20 Billion.

    First 6 Billion he paid 9.5, % 2 % more than the last Cabral Bonds.

    Then he scooped up the rest at 12.85 fixed for 30 years.

    Excuse # 1 they wanted 30 year terms.

    Excuse #2 The dealers knew that Galleon’s Treasury didn’t have money to pay Samursdhi or the Pension..

    Question # 1, Don’t the Bonds are issued for fixed Terms, And the Tender documents specify it

    Question # 2 How Did the Dealers know that Galleon had no money.to pay Samurdhi and Pension money ?.

    Second Yahapalan Bond issue was just 12 Months later in April this year .

    It was for 100 Billion , But the Singapaorean doesn’t say how much excess bids were absorbed and what rate was fixed for them.

    On the question of the profits being siphoned off in to UNP coffers. what Singapore Mahendran said is fascinating.

    He is not a member of the UNP.

    There were 15 dealers at the first Bond Auction.

    They may have political affiliations, And the Singaporean says they may have contributed to their Political parties.

    I bet they must have contributed big time ,, But I am sure it was all into Batalanada’s party safe, which Malik has the security code.

  • 1
    4

    KASmaalam KA Sumanasekera

    Clearly you haven’t got a clue as to what you are talking about, hence you have the right qualifications and you are the best ever Central Bank governor we never had.

    Be a man, give it a try, we are right behind you.

  • 2
    1

    Malik’s hand is overbearing considering bond scam money end up with him and UNP.. Also some one should ask Mahendran’s son in law’s S$ 12 million dollar apartment purchase in Spore and how did he get that money?
    People think Ranil is honest, and the whole scam started by him and Malik but Ranil trying to be a teflon man and countries elite know what is going on and unfortunately “the puppet ” the president have no clue and my understanding is he does not want to know since his job and possibly his life is at take if he shake the tree.
    We have US$ 15 million dollar BOI investments in SL and all of them are exports, earning good foreign exchange for SL and I have already thrown the towel and will not engage SL ever again and its the poor that is going to pay heavy price.
    Asking IMF loans and allocating expensive cars really broke my heart and never again help this country that are full of thieves.
    I would love to see youngsters creating a revolution and hang all of these political clowns at gall face with out their clothes and confiscate all politicos properties.

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    when people like Sama are around any big time pick pockets will get away with daylight robberies

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    What is unacceptable in Yahapalanaya is not whether AM is a Tamil or a non Lankan but why did RW appoint a bunch of UNP lawyers to whitewash AM? He should have been investigated no sooner the shit hit the fan.Why so little and so late is it because he is RWs Royal College chum. Who you know is more important than what you know.

    If Handunetti finds him guilty of violating procedure will AM be prosecuted??
    I don’t think so.
    That is why Yahapalanaya is breaking down…They don.t have the political will says Kerry & Zeid.

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    These are all allegations. We can’t say much until they are proven beyond reasonable doubt. We are tired of acting upon unfounded allegations, which are mere gossip. We also know that our systems are corrupt that there is little faith in our investigative capacity. Way forward is an international investigation with foreign judges.

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    That is it boys and girls..

    The Singaporean is not going anywhere except having a break until the COPE gives all clear..

    Batalanada Ranil told this to the Yahapalana inhabitants at the meeting this afternoon, according to the Dalit Web Newsletter.

    Batalanada re empphasisde ahsied that the UNP Committe cleared him . His F****CID Cleared him and the Yahapalana SC even cleared him of any wrong doing.

    Is the Singaporean holding Batalanda by his Yahapalana Scrotums?.

    And Bodhi Sira is telling fibs to make the disgruntled Yahapalana suckers feel good.

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    net is closing in on the small fish.After it has been netted must find out how much of profits alosius made and see where that went to ,to his bank account or to UNP coffers viA malik samara wickreme.IF that has happenned a fresh election has to be called with the president dissolving parliament.

    in the picture mahendan using his oxford brain to the maximum,is thinking whether he had been appointed for this post to be used or whther he was appointed because he was considered so clever and suitable for the post.

    He is learning the hard way about our srilankans used condom policies.

    Al the brainy people like DR.Dayan Jayatillake,arjuna etc fall for the used condom policy,hook line and sinker by thinking that it is their brains that are in demand by our politicians,who themselves have the crooked brains.They are not idiots to have amassed so much wealth because they don’t have brains and therefore need intellectuals to lend them theirs,it is just that they use their brains to look after themselves only.

    My horoscope reader said to me,the problem is you are always thinking of others.If you want to do well you must try be a bit selfish.

    I think to myself,okay i can be selfish and amass wealth,but can i ask god to tranfer that to my account in my next birth too.

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    The Debt issue is not that local, it is an issue of international concern of most Rich nations in USA ,EU countries, UK and Japan are worst debt ridden countries. The power of old image and gun control politics of economy of US has every power has been disappear, while the covered operation of all bad Debts belongs to USA citizens.
    The only version I know that “God will save America”!

    That is politics of monopoly of US-Empire base democratic values and its economy.

    All impending economic catastrophe and ongoing economic crisis can be covered by power of police giant of US high hand manner . So that rich nations above the debt services norms so far from that effect on Capital investment and Trading in Globally and locally….

    The result of national Debt two impact been effect to our social classes; Sri lanka.

    A Many thousands and millions people is causing increasing dislocation in every sphere of National life,

    B Fabulous profits handful local and Foreign capitalist.
    The UNP regime sabotage every kind of control, accounting supervision consist by early accepts by capitalist order.

    What will happen in practice however these specious catchwords of “good governs and rule of law” by UNP serve to conceal the political frustration of control, its nullification, its reductions to many political fiction the mere playing to control to the all power of state.

    The due to unending debt process by UNP economic advisers ,the delay of all business-like and practically effective measures ,that creation of extra-ordinarily complicated judiciary process, well that cumbersome and bureaucratically ,politically lifeless organization of control which are hopelessly dependent of private and foreign monopolies of USA, UK and Indian and which do absolutely nothing and cannot do any things to people and our country by UNP leadership.

    When UNP leadership in effective of control of any kind over Banks of private and state and their operation is impossible because it is incompetent to keep track of the extremely complex economic situation.

    The rulers of UNP have been involved and wily tricks that used in drawing up balance sheets that founding fictitious business and enterprises and their subsidiaries, enlisting to the services party and political friends figureheads so on and so forth.

    1 The current Sri Lankan Foreign debt is US $ 44.8 end of 2015.

    2 The end of march 2015 foreign debt increased to US$ 55.19.

    3 That counted is 54.4 precent of ongoing GDP as calculated.

    4 As export earning of US $ 10.5 billion in 2015.
    What ever the system of model, pattern and path of capitalism, that we have meet debt servicing, cost of repayment capital and interest for foreign debt.

    In under the ongoing UNP current regime led by Ranil W… leadership ,it is easier more convenient ,more profit for banks and financial businessmen of those banks to united privately surreptitiously in not so-called revolution but it is reactionary by UNP leadership of politics.

    In the UNP’s bureaucratic and not a democratic way ,bribing government officials and preserving the personal and private character of banks in order to preserve secrecy of covered operation to currency the state of rupees in super-profits and make financial frauds ( CB Bonds) are possible. Even at that time state controlled by UNP
    leaders and regulated production and services the interest of foreign and few local rich the magnets.

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    There is only one solution for all our problems. Tell me what you people think.

    Note that the persons listed below are highly qualified and truly capable of holding multiple positions and portfolios.

    Mahinda Rajapakse –
    President / Prime Minister / LORD of all the Universe

    Gotabaya Rajapakse –
    Head of the tri forces and Police.
    Chief Architect
    Chief Weapons Procurement Officer.
    Head of the BBS
    The Magnificent Magician

    Basil Rajapakse –
    Finance Minister
    Central Bank Governor
    Chairman BOI
    Chairman CSE
    Chief Treasurer

    Namal Rajapakse –
    Minister of Law and Order
    Minister of Justice
    Chief Justice of the Supreme Court
    Attorney General
    Minister of Sports

    Yoshitha Rajapakse –
    Mnister of Media and Cabinet Spokesman
    Vice Admiral Sri Lanka Navy

    Rohitha Rajapakse –
    Head of SLASA (Sri Lanka Aeronautical Space Agency)

    Nishantha Wickremasinghe –
    Chairman – Sri Lankan Airlines
    Chairman – Aviation Authority
    President of the Flight Attendants Union

    Sajin Vaas Gunawardena –
    Minister of Foreign Affairs

    Wimal Weerawansa –
    Chief Minister of Bullshit

    Bandula Gunwardena –
    Minister of Education and non Education

    Galagodaatthe Gnanasara –
    Head of Buddhasasana
    Minister of Religious and Racial Affairs

    Johnston Fernando –
    Head of the Bribery Commission
    Head of PRECIFAC
    Head of FCID

    GOD HELP US ALL !!!

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      Brown Sahab,

      You are a racist. where are positions for the minority
      leaders like Douglas Devananda, Col. Karuna , Pillian & KP. Karuna should be given in charge of N/E security with armed militias under his command. Douglas may be given Lands whose owners still dangling in make shift camps and Pillian in charge of health,with drug distribution
      under his command and KP, Finance. Pls increase the number of cabinet
      positions in order to accommodate minorities as other wise UN.UNCHR will be after you.

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