2 October, 2022

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Ranil & Dinesh Have A Past, Not A Future!

By Vishwamithra

Ranil may have already settled in. If not, the optics are such that he seems to have. Because the time has come for relative economic stability, which is one of the factors that the International Monetary Fund (IMF) is looking for, if a favorable outcome is the wish. However, parliamentary Opposition and the rest of the country’s agitation against the continuation of Ranil Wickremesinghe’s government would have to come to terms with the reality of new political paradigms that seem to haunt the collective mindset of the land. Ember beneath the ashes is simmering, not knowing when it will catch a spark and burst asunder. Political stability or instability is as uncertain as the life of a dew-drop at sunrise, which would wither away in a nanosecond.

Against such an ambiguous political backdrop, today’s players seem to be engaged in an orgy of indeterminate hang-over. Instead of creative introspection, they have allowed their maddening indulgences to dictate their own conduct; not necessarily their personal conduct in which the writer is not interested at all; but their political strategizing or lack thereof is engaging my scrutiny, however trivial it might be, in the larger context of planning and execution of a political comeback.

The current crop of politicians who occupy the Opposition benches in Parliament is relatively young. They happen to be born to the children or even grandchildren of the ’56 Revolution- the ‘Common Man’s’ generation. The ‘Common Man’, vibrant in denial of raw and cruel reality of the growing gulf between the haves and have-nots, but exceedingly lethargic in embracing the aggressively developing science and technology as a dynamic tool in modern society, has been voting in and out politicians whose only ambition seemed to be protection and advancement of their own avaricious ambitions and cheap goals.

The ‘Common Man’ closed his eyes when corruption began its early inroads into an otherwise incorruptible world of governance and economic management. He opted to ignore the early warnings; when such warnings manifested themselves infrequently amongst those who were elected, he willy nilly rendered assistance by submitting to such social malignancies because they did not identify the precursors of a much more severe cancerous malady. On the other hand, social scientists and serious students of history and political science failed in their social responsibility. What they learnt in the Universities as post graduate degree-students was constrained to the gloomy lecture halls. Moreover their own vulnerabilities as a dependent-generation, as a generation whose expenses and incidental overheads were the responsibility of their parents, grew exponentially. Slowly but surely an utterly destructive ‘entitlement syndrome’ set in and they never looked beyond it.                   

That generation in turn gave birth to the current youth generation- Gen Z.  Michael Dimock, President of Pew Research Center in an update of a post that was originally published March 1, 2018, explains thus: ‘In order to keep the Millennial generation analytically meaningful, and to begin looking at what might be unique about the next cohort, Pew Research Center decided a year ago to use 1996 as the last birth year for Millennials for our future work. Anyone born between 1981 and 1996 (ages 23 to 38 in 2019) is considered a Millennial, and anyone born from 1997 onward is part of a new generation’.

In Sri Lanka, the ‘Common Man’ took for granted the guidance received from the leaders of our society: Sri Lanka Administrative Service (SLAS) which replaced the old Ceylon Civil Service (CCS), a growing private corporate sector, Academia, private business leaders, other professionals such as doctors (both western and Ayurvedic), lawyers, engineers, accountants and so forth. With rotting at the very top, the politicians more or less decreed to their officials in the administrative ladder, the methodology of awarding government contracts to their friends and relatives. These contracts became a vital source of additional income for them. 

This process of corruption was buttressed by nepotism, so surreptitiously injected into the system, played an integral role in the establishment of a sociopolitical and economic system that became so patently unacceptable as a growth-tool for a developing democracy. Educated in the vernacular and veneered by a pseudo-patriotism born especially during and post-LTTE war era, the rural masses who once were totally detached from the urban detractions became willful victims of this sociopolitical process. The evidence of that corruption process was visible in all strata of rural life.

Government employment became so attractive to the younger generation; they inherited all the ill-effects of its entitlement-oriented parent generation, a generation that treated government employment as the sole source of income for their children. Educating their children in the most traditional way, when they managed to secure university admission, a great majority of the University entrants learnt subjects that did not serve any significant purpose for lucrative jobs in the developing market system that came into operation with the opening of our economy in 1977.     

What’s most apparent today is the classic clash between generations. The children of the ’56 Revolution are clashing with the Millennials and the Gen Z. The clash is total; it is cultural, political and social, and encompassing the whole gamut of human social fabric. It is a clash between apathy of the old and aggression of the youth; between appeasement and fight and above all, between a comfort zone and immediacy and urgency. The youth is pushing its senior generations to the threshold of patience and discomfort. What could be attained now simply cannot be procrastinated to tomorrow or the day after.  

The inevitability the immediacy is staring in your face. The older generations, fully supported by the political leaders of the time, are trying to apply brakes to a fast-running locomotive of youth and if one does not get away one is bound to get crushed by the machine. 

Whichever way you look and however much you wait, the picture does not seem to get any clearer than what it depicts now. A change in every sense of the word, a total, complete and absolute change in the system is the only way out. If one makes any attempt at half measures, if one makes even the slightest of compromises, one is certain to lose and give way to failure. This failure is not one you will attain after writing for an examination; it’s a generational failure, rhetorically as well as literally. The depth and breadth of the issues that confront a new generation, the ‘Gen Z’ is far too wide and long and its scope is far too incomprehensible for the old who have been stagnating for decades to grapple with it. 

It is this context in which the current leaders such as Ranil Wickremesinghe and Dinesh Gunawardena both of whom are over seventy two years old and hailing from that intermediate generation (one born before the ’56 Revolution yet not mature (in all aspects of political wisdom and basic common sense) are trying to resolve irksome issues of a brand new generation. Both Ranil and Dinesh have a past; however much that past is pleasant or unpleasant, it is the past. Today’s generations have a future and they know that those who are entrenched in the past cannot see the future, leave alone finding solutions to future problems. 

Ranil and Dinesh put together are not pillars of success, they, in fact are successive and successful pillars of failure. What irks most of us is not that these guys who have chosen to mortgage the country’s most precious asset- its youth- have got back to running our show; our older generation has shown some faith in them, time after time, decade after decade and year after year. In such a tragic circumstance, those who display character and courage are being shown the door, that of the jail and prison, to go inside not outside. The leaders of those who choose to stand up to their convictions are being punished for their conviction. The solution does not lie in the continuation of the faith; it is in the rejection of that faith the solution resides. But if one is afraid of what lies beneath the solution, one will be eternally doomed to be crushed and devastated by the problem. 

More than four decades ago, Alexander Solzhenitsyn delivered a shocking commencement address at Harvard University. The Nobel-prize winning Russian novelist’s shed light on a glaring aspect of societal development at the time. He said thus: ‘We have placed too much hope in politics and social reforms, only to find out that we were being deprived of our most precious possession: our spiritual life. It is trampled by the party mob in the East, by the commercial one in the West’.

What Solzhenitsyn said is valid even today. A highly intense pursuit of material wealth and faster solutions, man is stagnating in the present with no end in view. Caught in such an impasse, man tends to look for the easiest way out and what the charlatans of the Pohottuwa-Mafia led by Ranil Wickremesinghe and Dinesh Gunawardena are offering is mere procrastination of the already stagnant dirt and debris. We must look beyond such dirt and debris.

*The writer can be contacted at vishwamithra1984@gmail.com

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Latest comments

  • 13
    4

    This article is more appropriate for the comment I typed elsewhere. 1) Lanka is now rated as one of the most corrupted countries 2) We are rated 95th out of 120 countries, lacking budget transparency, scoring very low 30 / 100 , which was 45 /100 in 2020/21. 3) Only 6 % of our 80 Billion budget was used to fulfill the promised projects. 4) Because there is no transparency, accountability, oversight, audit, our public will never know “what happened to rest of the allocated money” 5) But the whole nation knows Rajapaksas were controlling more than 75% of the budget allocation and it’s no more a secret where the missing money ended up. 6) Question is “how much “??? 7) Just a few days ago, a retard here wrote “corruption is not a reason for our bankruptcy.

    • 6
      23

      Five of today’s Stories on CT have Ranil in the picture. Is this a record?

      • 23
        13

        old codger

        1) Against my better judgment, I am responding to a person HIDING under cover of ANONYMITY since he/she is MISLEADING readers BIG TIME by DECEPTION.

        2) The DECEPTION mainly relates to being in DENIAL of the WRONGS under the WATCH of your HERO Ranil Wickremesinghe.

        3) You have even described him as “Brilliant”.

        https://www.colombotelegraph.com/index.php/its-time-to-untether-the-kite/

        4) In this connection, I refer to my CT article: “Any Dealing With President Who Lacks Legitimacy Is Political Suicide”

        https://www.colombotelegraph.com/index.php/any-dealing-with-president-who-lacks-legitimacy-is-political-suicide/

        5) At the rate you are DENYING the ENORMITY of the ‘Bond Scams’ under his WATCH, I wouldn’t be surprised if you even DENY that the EASTER Sunday CARNAGE took place under his WATCH as Prime Minister!

        (continued below)

      • 24
        14

        old codger (continued)

        6) Even when responding to ‘Sinhala_Man’ on the permission granted for the docking of the Chinese research ship ‘Yuan Wang 5’ in the Hambantota Port, you were economical with the truth when you told him – “Again, it wasn’t Ranil who granted permission, but Gota.”.

        7) I now get to the ‘Bond Scams’ which are AGITATING you NO END! It is like ‘waving a red flag’ and calling it ‘EGREGIOUS’ unnerves you.

        8) The ‘Bond Scams’ are EGREGIOUS not only because of the HUGE LOSS to the people but also because of the terrible ‘Conflict of Interest’ with the involvement of government agencies under the WATCH of Ranil Wickremesinghe.

        9) How can anyone have ANY CONFIDENCE in whatever you say when Wickremesinghe is not FAULTED (i) for UNPRECEDENTEDLY bringing the issuing agency for Treasury Bonds (CBSL) under his direct purview? (ii) for having HANDPICKED Arjuna Mahendran a foreign national to be CBSL Governor?

        (continued below)

        • 10
          23

          AM,
          Are you really unaware that the first CB governor was a foreign national too? Perhaps you have something to say about DS Senanayake?
          At least Mahendran was born here.

      • 24
        13

        old codger (continued)

        10) Your claim of having “several times provided calculations” on the ‘Bond Scams’ is LAUGHABLE. While only considering the bond issue of 27 February 2015, you have IGNORED the bond issues of 29 March 2016 and 31 March 2016. Yet, you have the nerve to accuse me of “wild allegations”!

        11) Even on the 27 February 2015 bond issue, after initially attributing a LOSS of a mere “360M rupees” and later “an annual loss of 360 million” you now refer to “1.6 billion over 30 years”. Hence, I ask whether your so-called “CALCULATIONS” are worth the paper it’s written on?

        12) As against the loss of ‘1.6 billion over 30 years’, I invite your attention to “AG alleges Rs. 68B defrauded in three bond scams; Trials-at-Bar begin” (‘The Sunday Times’ 21 March 2021)

        https://www.sundaytimes.lk/210321/news/ag-alleges-rs-68b-defrauded-in-three-bond-scams-trials-at-bar-begin-437099.html

        (continued below)

        • 10
          22

          AM,
          “11) Even on the 27 February 2015 bond issue, after initially attributing a LOSS of a mere “360M rupees” and later “an annual loss of 360 million” you now refer to “1.6 billion over 30 years”. Hence, I ask whether your so-called “CALCULATIONS” are worth the paper it’s written on?
          It isn’t me that referred to 1.6 billion over 30 years, it was the AG himself.
          An annual loss of 360 m is what the SC decided. As a a self-proclaimed financial expert, are you unaware that 360 million today is worth less than half of what it was worth in 2016? Certainly, by 2046, 360 million might not buy you a used Maruti. Or don’t you understand that? Of course Aloyius understood, which is why he sold off within 2 years.

          • 11
            22

            “10) Your claim of having “several times provided calculations” on the ‘Bond Scams’ is LAUGHABLE.”
            At least they are my own calculations. Where, may I ask, are yours? I see only a reliance on unverified third party statements.

      • 26
        12

        old codger (continued)

        13) “The Attorney General has filed indictments before three Trials-at-Bar regarding alleged scams that took place during three different Treasury Bond auctions during the term of the former Government.”

        14) “The total amount of funds that had allegedly been defrauded during the three bond auctions amounts to Rs 68 billion, according to the AG’s Department.”

        15) “Accordingly, the AG’s Department alleges that Rs 18 billion has been defrauded during the bond auction that took place on February 27, 2015 and Rs 36.98 billion defrauded during the auction on March 29, 2016. The amount defrauded at the auction held on March 31, 2016 is Rs 15 billion.”

        16) The LOSS to the people due to the UNWARRANTED increase in INTEREST RATE on the 30 year maturity 27 February 2015 Treasury Bond issue alone is HUGE when considering its IMPACT on FUTURE Bond issues. This is why the “Auditor-General of the day” is said to have determined it had “caused an incalculably large drain of finances over an incalculable period of time”. The DIRECT LOSS (27 February 2015) has been estimated by the Auditor-General to be Rs. 1.6 Billion.

        (continued below)

        • 10
          22

          AM,
          “This is why the “Auditor-General of the day” is said to have determined it had “caused an incalculably large drain of finances over an incalculable period of time”
          This is sooo tiresome.
          1. Can you provide an actual link to prove that the AG made any such statement? Is 30 years “incalculable “?
          2. Are you perhaps unaware that the current rate is 28%?

      • 26
        12

        old codger (continued)

        17) The clearest PROOF you have CONFIRMED Dayan Jayatilleka’s assertion that the “Auditor-General of the day” had said that the Bond Scams “had caused an incalculably large drain of finances over an incalculable period of time” is YOU saying “I would think his opinion is more an indication of the quality of the “Generals” we have in this country than anything else. You might remember that the Supreme Court decided that any provable loss is not more than 360 million annually. Peanuts, as they say.”

        18) Your latest PHOBIA is “incalculably large drain of finances”!

        19) The IMPACT of the LOSS of CONFIDENCE in the country, economy and integrity of the banking system due to the ‘bond scams’ with STATE involvement is ‘INCALCULABLE’.

        (continued below)

      • 26
        12

        old codger (continued)

        20) If as you claim the ‘Bond Scams’ are NOT EGREGIOUS (i) what was the RATIONALE for the ‘footnotes’ placed also by Dr. Harsha de Silva? (ii) for then CBSL Governor Dr. Indrajit Coomaraswamy to reportedly seek the approval of the Attorney-General to place in the public domain its forensic audit “as it could influence the upcoming presidential election”? (‘Sunday Times’ 3 November 2019) (iii) for Parliament to be DISSOLVED on the EVE of the 2015 General Elections when the D.E.W. Gunasekera led COPE report on the ‘bond scam’ was to be presented to parliament?

        21) Please note there will be no further engagement with you on the subject of the ‘Bond Scams’ as it’s a sheer waste of time. I again urge that you DROP your FAKE name and come CLEAN. You are probably the only ‘commentator’ in CT who MALIGNS individuals under cover of ANONYMITY.

        Amrit Muttukumaru

        • 10
          23

          ” 21) Please note there will be no further engagement with you on the subject of the ‘Bond Scams’ as it’s a sheer waste of time.”
          Don’t you ever get tired of repeating yourself?
          Sadly, you seem unable to understand what I have said before, and am forced to repeat:
          1. The allegation that the Auditor-General spoke of an “incalculable loss over an incalculable time” is an absolute lie. I provided the link to his actual comments.
          2. The Auditor-General’s actual estimated loss is not much different from mine and the Supreme Court’s
          3. Whatever loss pales in comparison with audited annual losses from Srilankan, CPC, Mihin Air, Greek Bonds, Oil Hedging, etc. If “individuals ” insist on pursuing a fake bondscam while ignoring worse ones, they may reasonably be accused of carrying on a vendetta.
          4. Whatever (notional) loss occurred, it is now an effective profit of 16% because TB rates are now at 28%. If “individuals” can’t understand that, it means these “individuals” lack even the very basic understanding of finance that I have. So why do these “individuals” insist on making fools of themselves over things they don’t understand

    • 9
      1

      What a pity. Looks like Viyathgama has decided to leave the uneducated lot. Under Dallas/ GLP 10 so called intellectuals ???? (doctors, Lawyers, Professors ) decided to sit independent with opposition. The left over school drop outs / SLPP are pressurizing RW to get them all a Minister post, and if possible make Gotha the next PM. Crook Dumika too wants to come back as minister. Mahinda was right in saying our Parliament is like a saloon ( to me it’s more like a bro-thel house ) where customers can walk in and out holding positions as they wish. Lets wait to see how our political Pimp will maneuver, to keep all his service providers and customers happy. Apparently Basil is behind such moves,. Obviously it would have been better to see the scum off (during Aragalaya) than holding in Lanka.

  • 2
    19

    Congratulations to Ranil and Dinesh (6th times Prime Minister and oldest Member of the Sri Lanka Parliament of Sinhalese Nation) In the Asia region Ranil became PM for six times.

  • 3
    12

    Ranil’s plan to present a budget is a joke. If Sri Lanka is bankrupt or near dead as some foreign media asserts, how could a budget be formulated? Sri Lanka can go without a budget this year and maybe even next year, which is understandable. The most important factor is to continue the Parliamentary Committee System. For example, COPE played a strong, transparent and commendable role under its Chairman Prof. Charitha Herath.
    Ranil should seriously consider foregoing this year’s and next year’s budget for many reasons. In any case, the Sri Lanka budget fooled its citizens for decades. What is the point of following the same path?

    • 12
      8

      Simple-minded Champa,
      “Sri Lanka is bankrupt or near dead as some foreign media asserts, how could a budget be formulated?”
      Have you seen beggars? Technically bankrupt, aren’t they? But they do have money, right?
      I suggest you stick to subjects like Ravana’s atom bomb. High finance is not for you.

      • 3
        6

        old codger
        Your logic about beggars and bankruptcy is not valid. Beggars can never be bankrupt as they don’t have to repay the money they received whereas Sri Lanka is broke and officially in default. It is simple logic, not high finance.
        Now, our lethargic male leaders want creditors to treat Sri Lanka a beggar state so that they don’t have to pay back. I think the import ban on 300 items is to blackmail foreign countries to restructure our debt so that foreign companies can continue to import their goods to Sri Lanka. Instead of resorting to such cheap tactics, the government should find ways to increase its revenue.
        On a separate matter, I think Rajapaksas’ plan is to “use” Ranil to restructure our foregn debt and get a bailout from the IMF and/or from other countries and then “discard” him.

        • 0
          6

          Ooops…. ……so that foreign companies can continue to export their goods to Sri Lanka.

        • 0
          2

          Champa,
          “they (beggars) don’t have to repay the money they received whereas Sri Lanka is broke”
          Lanka doesn’t have to pay back. Look up what “haircut” means.

    • 9
      0

      Champo,
      .
      what are those many reasons ? If I may ask you.

    • 7
      0

      Dear CHAMPA (self proclaimed historian),
      .
      The baby of THE very famous parasite family is rumored to have secured a jet fuel deal with Russia. Champa, since you are so close to Putin, you should be more aware of it, I might say.
      I get angry with myself every time I can’t believe my eyes, but Mahinda Rajapaksa is still marching in the Parliament Chamber. This moving corpse is the main problem in the estimated mess in this beautiful country today. Even if the rioters tore down the monument of his parents, there is no doubt that Mahinda’s will be done by divine forces, because all mlechcha acts that he has done for this nation cannot be estimated.

  • 12
    6

    “The ‘Common Man’ closed his eyes when corruption began its early inroads into an otherwise incorruptible world of governance and economic management. He opted to ignore the early warnings; when such warnings manifested themselves infrequently amongst those who were elected, he willy nilly rendered assistance by submitting “
    Ultimately, responsibility lies with this “common man”, who fell for lies and platitudes, who voted for charlatans promising to rescue them from evil Tamils/ Muslims, gods with clay feet who showed them splendid edifices built with loans and named after themselves. Have even the “common people” in the Aragalaya
    been radically different? Have anyone them called for the release of Tamil or
    Muslim political prisoners? Has there been any criticism of the Buddhist clergy for their role in this disaster? Absolutely not!
    “It is this context in which the current leaders such as Ranil Wickremesinghe and Dinesh Gunawardena both of whom are over seventy two years old …”
    Oh come on, Vishwamitra, aren’t you the guy who, a few months ago, promoted the even older Karu Jayasuriya for PM?

    • 5
      1

      OC,
      “Oh come on, Vishwamitra, aren’t you the guy who, a few months ago, promoted the even older Karu Jayasuriya for PM?”
      The Sri Lankan Maxim, an epitome is,
      “Not BUILD UP REASONING STEP BY STEP TO ARRIVE at a reasonable CONCLUSION and/or OUTCOME, but FIRST SEEK THE DESIRED OUTCOME GOOD or BAD and then factor in the reasons and justifications for seeking that outcome”???!!!
      CUNNING INDEED!!!
      Robert Knox wasn’t far from the truth?! Was he??
      Reality dawns as life progresses???!!!!

    • 11
      2

      Dear old codger,
      .
      You conveniently ignore the positive aspects of what the Aragalaya stands for and support the illegitimate but legal Ranil Wickremasinghe Presidency.
      .
      https://www.youtube.com/watch?v=NAazfxNLfFk
      .

      This is about the tenth time I’ve said it: I respect many things that you have said, and what Vishwamithra has been saying. Look back and check.
      .
      But both of you are anonymous. I have written to Vishwamithra, a cordial email, pointing out a slip, and received a gracious response, but from a Vishwamithra who remains unknown as a real person. We can keep saying that it is the content that matters, not the person. I don’t agree.
      .
      I support the Aragalaya still. On racism, read the most recent comments here, and what was said seven years ago, by me, Panini Edirisinhe (NIC 483111444V) of Bandarawela.
      .

      https://www.youtube.com/watch?v=MmbhjfCU8bY
      .
      Gorby has passed away; not a tragedy, he was old and suffering, but do we respect one of the finest humans of our times?
      .
      https://www.bbc.com/news/uk-62732447
      .
      and
      .
      https://www.youtube.com/watch?v=_i5KlXkOAAs
      .
      We sometimes have to say uncomfortable things to people. I may have given you links that are difficult to trace; if so please look here:
      .
      https://www.colombotelegraph.com/index.php/sri-lankas-pta-the-anti-terrorism-law-that-promotes-terrorism/

      • 4
        9

        SM,
        In any case, the Aragalaya is finished, because shortages are more or less over. People weren’t protesting for high-falutin principles, but provision of basic services. What goes on now is simply the IUSF. The same guys who have been protesting against anything and everything for donkeys years. That includes SAITM, SLIIT, privatisation, removal of subsidies, among other things. They have also been accused of ragging and enforcing conformity in dress and culture on campus. Don’t tell me you support all this?
        What we need now is a way out of this economic meltdown. This is not the time to quibble about niceties. We have to accept even (temporary) repression if it brings discipline . I would let the Devil himself take over if he got the job done.
        As I said, WE are as much responsible as any politicians.

        • 8
          4

          More disappointment!
          .
          “They ………… been accused of ragging and …………”
          .
          So, accused is guilty, is it? That’s why the PTA is in force. Allows you to talk nonsense and lock people up for 90 days.
          .
          I have opposed ragging and such like, and I have said not only who I am, but where and when I opposed barbaric practices.
          .
          Yes, we need a way out of the economic meltdown. I see that you have seen this:
          .
          https://www.colombotelegraph.com/index.php/central-bank-independence-issue-to-the-fore-again-but-will-the-government-have-foresight-to-do-it/
          .
          However, Ranil has no mandate to meddle with the Constitution. He has to get elections conducted ASAP.
          .
          The SLPP fellows were elected all right. But they have forfeited the trust that people have placed in them. Do you contest that statement of mine?
          .
          Since I have answered the questions posed by you, it is only fair that you should respond to my questions.
          .
          However, I notice that you acknowledge that you now consort with the Devil.
          .
          “We are ……. responsible” – true as a manner of speaking. Yes, collective responsibility, as I tell Tamils that all of us Sinhalese are responsible for their suffering. But tell me what I have personally done?
          .
          You can’t go on, and on, saying unacceptable things anonymously!
          .
          Panini Edirisinhe

          • 3
            5

            SM,
            “So, accused is guilty, is it? That’s why the PTA is in force. Allows you to talk nonsense and lock people up for 90 days.”
            SM,SM, be consistent. There are plenty of accounts by first years of how they are forced into the ways of the IUSF. You have to accept that these people have none of the original aims of the Aragalaya. Locking people up for 90 days is nothing compared to the rest of us having no food, fuel, gas, or power. It isn’t Ranil who deprived us of all that. But we are still bankrupt, and how does anarchy in the streets help us? At least the original Aragalaya participants have realised it, but not the fake IUSF “Aragalaya “.
            BTW, you haven’t said whether you support the IUSF on privatisation, etc.

            • 4
              0

              “original aims of the Aragalaya”?
              OC
              It was only Gota go home.

            • 4
              1

              Yes, oc, the ragging in the Universities is disgraceful. But you have only reports; how do you tie them up with “Anthare” being directly responsible for “organising” such ragging. I know that there are limits to the evidence that we must have before we act, but I sincerely believe that you’re unfair in ascribing such ragging to left-wing activists who are now asking for Parliamentary Elections.
              .
              My experience is that these “reports” come from students who come from “respectable ” English speaking homes. They dramatise it all, and exaggerate. Those who often face the worst ragging are innocent and timid types. Of course your reference is to how their the IUSF coerces new entrants into political activism. These are not issues which can be dealt with in a sentence or two.
              .
              My family has spent huge sums on private education, but I have also benefitted from a good deal of free University education. Much of my work has been in schools that “dispense” free education. But if you want a simplified answer to your question, no I don’t agree with many of the zany slogans opposing privatisation.

  • 8
    4

    Why are we bothered about the future of two individuals?, when what is at stake is that of a country, which many around here had cynically written off long ago.
    Would any combination of parliamentary politicians have then made a meaningful difference?

  • 5
    0

    Ranil & Dinesh Have A Past, Not A Future!

    All are aware the prime minster past shouting and blaming the president on bondscam The words once poisoned the public branded toxic in there memory. Now Your Worst Enemy is the Best Friend & Your Best Friend Your Worst Enemy the public has been tamed and subdued by misfortune; but great minds rise above it.They promise to build bridges even when there are no rivers. Is PM blame still valid? Or a game.

    • 7
      0

      “They promise to build bridges even when there are no rivers.”
      If bridges are what are needed to be built, and if justification is also a need, there are people to build rivers too.
      That is what marketing is about: Create a need and the rest follows.

      • 6
        0

        It was the Rajapaksas who began f…king up the Uma Oya about 15 years ago.
        .
        The Iranians (descendants of the old Persians who probably knew a good deal about tunneling) are still here. Many wells in the Bandarawela-Ella area still have no water, and no electricity is being produced at Karandagolla.
        .
        Yes, SJ, I have no hesitation agreeing with you on this!

  • 10
    4

    There is no question that Ranil and Dinesh will lead this country on the path to a Right Royal F**k-Up!

    • 5
      0

      CM
      Would you like another pair to do the same?
      There are 24976 (224C2 = 224×223/2) combinations possible leaving the said two out. (Please check my arithmetic to be sure.)

  • 5
    3

    The glorification of spiritual life over commercialization in the west by Alexander Solzhenitsyn
    could only be looked at the context and his personnel suffering he underwent during the Stalinist era and even subsequently aftermath of Stalinism especially under – Nikita Khrushchev the successor of Stalin. He, as a political novelist may have dreamt of a return to the glorious humanistic literary traditions of Russia in the 19th century.
    Materialism is a historic necessity and inevitable stage in the evolution of human race. And in this respect Spiritualism could accommodate materialism and coexist and enrich human life.

  • 8
    0

    R&D can bring about economic and political REVIVAL of the country if they are SINCERE & HONEST in their dealings with the general public. They should stop going after the Promoters of Aragalaya and go after those who brought our country to the current status. He should not rely on the SLPP+Rajapaksas. Please appoint capable & honest Parliamentarians from other parties as Cabinet Ministers.
    Please stop paying pensions for MPs and Ex-Central Bank Governors.
    Please dissolve the Parliament in February 2023 and hold the Parliamentary & Provincial Elections.

  • 7
    1

    Thanks for the revealing analysis. Many see this as a postponement of the reality but you give it great context. Your protegee Russian novelist was not at all appreciated at home for an unbiased view of East and West at play. Premier Lee Kwuan Yew gave a prescription for Island nations such as ours on foreign policy and economic independence was top on the list.
    But who cares we are content to live for the day.
    For me I see a red light from the pacific for some time. Another hero is a voters option but a loss of credibility for the doublespeak is getting the nation into a bind.

  • 8
    0

    Vishwamithra is too immersed in theory he fails to see the forest for the trees!
    How did we get here?
    If you see only corruption the issue is not difficult to resolve. If you see only ‘entitlement syndrome’ the issue is not difficult to overcome. If you see only nepotism, the issue is not difficult to eradicate. If you see … , once again, it is not difficult to wipe out. But, we all of them, and at the same time. That is where the difficulty arises.
    We got rid of Gota, only to see a Ranil!
    We got rid of Mahinda, only to see a Dinesh!!
    .
    It is not sufficient to be able to look beyond such dirt and debris. We should dump that dirt and debris; nay, incinerate that dirt and debris.

  • 9
    3

    Ranil and Dinesh were born in a high social circle with powerful political and wealthy land-owning classes. They are not representing the poor, downward, and other common groups of people who belong to the most significant majority of Sri Lankans. Even other politicians in the present-day parliament are also somewhat of the same Caliber who are more selfish and introverted and their only aim is to make quick money by all means and not represent the ordinary masses of the country. The majority of the people are openly protesting in different ways for a ” System Change ” and reform the government with better people whom they could trust, unlike the present cheaters’ Viz- Rajapaksa family, Maithiripala , Ranil and other old cronies who have led the country into bankruptcy whilst they became billionaires.

    • 6
      0

      PL
      “The majority of the people are openly protesting in different ways for a ” System Change.”
      I wish if that it is true.
      Only a tiny minority is bothered.
      It will take a lot of work to awaken a population doped on consumerism.

  • 6
    0

    Why did the “ARAGALAYA” fail to achieve the SYSTEM CHANGE that the common man aspired for? Is it because they targeted the PM & President only and leaving the corrupted DEN ie parliament.
    Ranil.W needs to DISSOLVE the parliament at the EARLIEST possible time. Meanwhile he should SUBMIT a New Constitution to public referendum.
    Let the public see the draft of the new constitution that is being formulated for over many years now. Minorities want to see that their RIGHT to liveAS EQUALS in the country assured. The majority race should remember that their LIVES MATTER!

    • 7
      2

      I agree, dear Naman.
      .
      old codger has now definitely been displaced as my favourite commenter. I haven’t decided who should replace him.
      .
      No, that above statement is unsatisfactory. My preferences should not count for much.
      .
      Proclaiming identity is important. So, it may be that Lasantha Pethiyagoda will fit the bill!
      .
      Panini Edirisinhe

      • 5
        0

        OC
        The disk jockey will soon take you off the Top of the Pops chart.
        I still disagree with you a lot, but always like your sharp wit.
        But my vote does not count.

        • 3
          0

          SJ.
          “But my vote does not count.”
          I would certainly vote for you as disc jockey. Let’s agree to disagree.

    • 3
      0

      Naman,
      .
      What do you mean by a system change? However, a complete upside down is not done as seems necessary. Would that ever be possible, so long Rajapakshes are in life ?
      However, people have survived by achieving the following….why are we not grateful for that? Are we animals or humans?
      .
      MR was opposed to stepping down as Prime Minister, it didn’t work out? Actually, we should have put him in jail on very day., but in a country where courts and entire judiciary is biased being close to that mlechcha family, what hope can we have ?
      .
      The most abusive man of mlechcha family, the dual citizen, the Gampaha land grabber who is well known as 10%, was forced to step down from Minister of finance post.
      did it not come true? Cabral was forced to resign as a SLCB governor, though the bugger shamlessly insisted of being capable of resolve the problems of the economy. All these were just self proclaimations. .didn’t it work?
      .
      In the end, the executioner of the nation, or Gotabha, has been driven away without a place to take refuge. It is not achievements of high level ?

  • 13
    2

    The vermin who take turns at the trough to splurge on public funds should be fumigated without further ado. It is clear what identities the parasites have. The brave youth must ensure that no vestiges of the scum remain, to spoil the futures of the unborn children of Sri Lanka.

    • 3
      0

      LP
      The agenda now needs to be different.
      It takes time to readjust.

    • 2
      2

      LP,
      .
      “Brave youth must ensure that no dirt is left behind to spoil the future of Sri Lanka’s unborn children.”

      For some reason they were too slow to react because the ghosts don’t allow them to react properly. If you can check it again, SIRLANKENS are not fighters in general. , not even to free from colonial masters… however, some individuals were adulated by srilanken press ….. Again the Sri Lankan media overestimates the nature of the Sri Lankan nation.

      https://www.buecher.de/shop/reise–abenteuer/an-account-of-the-island-of-ceylon/percival-robert/products_products/detail/prod_id/31348818/

      All the powers given to the Pinguttaya community in the Maleccha Samaj should be crushed forever so that the crooked politicians do not profit. The Sri Lankan Sinhala Buddhists, who become easy paymasters for the Rajapaksas, should be punished soon. Looking back, they were the biggest hindrance to me.

  • 5
    0

    When you have a nation of morons and neanderthals stagnation is what you get. Not a single person seems to understand the true picture. We are broke. We were bankrupted because of the incompetence and greed of the Rajapakshes. The only way out is for a bailout. But the IMF will drag its feet if it sees instability and all manner of buffoons parading the streets yelling insults at RW and demanding various stupid things like elections. One of the hall marks of the Rajapakshes was to stuff every single government institution with their uneducated and incompetent stooge army. The entire law enforcement and judiciary is disfunctional the losses incurred by SOEs mind boggling. Yet no sooner the topic of selling off the CPC for example comes up the neanderthal brigade comes out in full force in opposition. Today Sri Lankan announced their losses. Here is an entity that should shut down if they cannot get their act together. The chief architect for its ruin is non other than Mahinda.

    • 2
      1

      “When you have a nation of morons and neanderthals stagnation is what you get.”
      Does running away from the nation truly change one’s identity?
      Some people hereabouts claim to have grown a brain by migrating.

  • 2
    0

    ‘We have placed too much hope in politics and social reforms, only to find out that we were being deprived of our most precious possession: our spiritual life. It is trampled by the party mob in the East, by the commercial one in the West’.

    The author has quoted the above truth.
    I am urged to say that this is our issue too, in hero worshipping politicians and religious “dignitaries” instead of a spiritual God.
    In my own Christian faith I see a few con artists doing prosperity gimmicks well and collecting bucks from vulnerable people …….sad
    Come election time I pray Gods wisdom prevails.

  • 2
    1

    Both had a tragic past and no future. ranil of course a gifted loser. Dinesh is a survivor and he too had the good planetary position when students chased away away Gota nas Mahintha.

  • 5
    0

    Pon Lanka

    “Ranil and Dinesh were born in a high social circle with powerful political and wealthy land-owning classes.”

    Dinesh is an exception.
    He is a well known practicing racist and anti progress.
    He is possessed by tonnes of Inertia, and thrives on resistance to change.
    Show his his friends we can show this country’s future.
    His friends are himself, Weeping Weerasekera, Mahinda, Vasu, the brilliant Wimal Sangili Karuppan Weerawansa, ……. Dayan, …..

    • 6
      4

      What about you, NV? Are you, a Vedda?
      .
      I don’t believe you can possibly be a full Vedda, but do you actually have Vedda blood in you?
      .
      What about Wasantha Mudalige? I find that he is from Dambana, near Mahiyangana. Now that is a Vedda village. I’ve been there. Could all these other readers of CT, who mostly live abroad, tell us whether they have been there.
      .

      That fraud, nihal fernando, who mocked at me from Cumberland, while munching on scones?
      .
      There can be no doubt that the Veddas who live in Lanka have blood mixed with that of the Sinhalese and the Tamils. After all, Vijaya started it all with his disgraceful treatment of Kuveni. That is legend that I don’t really believe.
      .
      Today’s Veddas earn money from tourists. If you want to take a photograph with them, or want them to perform a dance, you have to pay.
      .
      I won’t try to criticise that. The fact is that they live much closer to Nature than any other Lankan does. We’ll all have to learn a lot from them.

      • 7
        2

        nimal is the fraud ……. nihal is a good guy: I’ve met him in the Mustang Ranch ………

        I know his identity, identity card number …….. he is as “decent” as they come ……..


        I can vouch for him! :))

        • 3
          3

          Nimal,
          “nimal is the fraud ……. nihal is a good guy:”
          😂😂😂

        • 4
          3

          So, “fraud nimal”, will you please email a photograph of nihal on a bucking bronco, together with his NIC number?

    • 2
      0

      Dear NV,
      .
      None of the rotten politicians mentioned above (Weeping Weerasekera, Mahinda, Vasu, the brilliant Wimal Sangili Karuppan Weerawansa, ……. Dayan, ) are even close to role models in their political or personal lives. They are all shameless.
      .
      Come to think of it, it is clear that the situation would have improved by today, if we had gone to the International Monetary Fund two years ago.
      Ranil has always told to go to the IMF without taking sides. But neither the voices of these political parasites nor Boralugoda Sinha were ever interested in rehabilitating ” pompous” Vasideva, who was an obstacle to the International Monetary Fund and their recommendations.
      Today, the country is hanging by a mere “hair” – which means that if neighboring India had shown backwardness, the situation would have been worse.

      To my surprise, yet today people are not moved, … 85-year-old Vasideva is still speaking publicly and is active today. Bandy legged Mahinda Rajapakshe leads the marches within the parliament. They look all as if they would fall dead on the spot, neverthelss, their JATHAYALAYA (fake love to the nation and country) doest seem to allow it.
      The voice of Sakkili Weerawansa (famous DJ’s siamese Twin) can still be heard. :::: If this voice was heard from a prison cell, we could have been more happy thinking that justice was done at last.

  • 16
    3

    Please see my comment above, where I have, sadly, criticised old codger.
    .
    Somebody has to come forward and say the uncomfortable things that must be said. If that person is in a position to identify himself and take responsibility, all the better. However, that is not always possible.
    .
    It is fitting that on the day when we learn that the greatest human of our times has died, we resolve to demand that truths be recognised.
    .
    https://www.dw.com/en/world-reacts-to-death-of-mikhail-gorbachev/a-62977204
    .
    We live in precarious times. I have to submit this now, before the electricity gets cut!
    .
    The Rajapaksas have plundered us, and Ranil rules illegitimately. Will I be jailed (or even executed) for saying it?
    .
    We must all die once, so never mind!
    .
    Panini Edirisinhe (nobody has yet questioned my identity!)

    • 4
      7

      “nobody has yet questioned my identity”
      Perhaps nobody cares, and that should be the way.
      CT
      Do you not think that we have too many personal comments here?

      • 2
        0

        SJ,
        I must commend you here, you have always been on topic. If our people could think before they jump, things would be a little nicer. CT today is no different from Rajapaksa’s breakfast table (keeping all the gossip about attacks against them rather than nation to nation). This nation cut off their main blood supply themselves. So what to say today?

    • 3
      13

      SM,
      “Please see my comment above, where I have, sadly, criticised old codger.”
      You are quite free to criticize me. That’s why I’m anonymous. Nobody knows who I am. But what would happen if I came out as a former pandjandrum , professor, or even a vice-chancellor. Whereas, if I criticize you, everybody knows who you are, even your ID no.

      • 4
        1

        Dear OC and all sensitive souls,

        It doesn’t matter that Rajapaksa’s henchmen steal every penny. But our people go after IDs and personal details and not pay sufficient attention to the content of the message.
        This is why we were pushed to a precipice as of today. Isn’t it time to right our wrongs? When will our people get serious about our issues? I’m afraid, I’m very pessimistic about our future, so it won’t change the way our people think.

        There are many reports that “wunderkind- Vasantha Mudalige” is reporeted have nott visited his mother for the past 3 years.

        https://www.youtube.com/watch?v=9_OtiJStfyw

        It brought back my memories of Peradeniya in the late 80s. To that point in time, I had no hope for myself and always dreamed of saying goodbye to the evil culture.

        Now it is clear to me, hatred, malice, envy, jealousy and self-expression and all have increased several times more, and the good values ​​of the society have almost been eroded.

        • 3
          13

          LM,
          “But our people go after IDs and personal details and not pay sufficient attention to the content of the message.”
          Also known as “missing the wood for the trees”.

  • 24
    7

    old codger (continued)

    20) If as you claim the ‘Bond Scams’ are NOT EGREGIOUS (i) what was the RATIONALE for the ‘footnotes’ placed also by Dr. Harsha de Silva? (ii) for then CBSL Governor Dr. Indrajit Coomaraswamy to reportedly seek the approval of the Attorney-General to place in the public domain its forensic audit “as it could influence the upcoming presidential election”? (‘Sunday Times’ 3 November 2019) (iii) for Parliament to be DISSOLVED on the EVE of the 2015 General Elections when the D.E.W. Gunasekera led COPE report on the ‘bond scam’ was to be presented to parliament?

    21) Please note there will be no further engagement with you on the subject of the ‘Bond Scams’ as it’s a sheer waste of time. I again urge that you DROP your FAKE name and come CLEAN. You are probably the only ‘commentator’ in CT who MALIGNS individuals under cover of ANONYMITY.

    Amrit Muttukumaru

    • 10
      21

      AM,
“21) Please note there will be no further engagement with you on the subject of the ‘Bond Scams’ as it’s a sheer waste of time.”
Don’t you ever get tired of repeating yourself?
Sadly, you seem unable to understand what I have said before, and am forced to repeat:
1. The allegation that the Auditor-General spoke of an “incalculable loss over an incalculable time” is an absolute lie. I provided the link to his actual comments.
2. The Auditor-General’s actual estimated loss is not much different from mine and the Supreme Court’s
3. Whatever loss pales in comparison with audited annual losses from Srilankan, CPC, Mihin Air, Greek Bonds, Oil Hedging, etc. If “individuals ” insist on pursuing a fake bondscam while ignoring worse ones, they may reasonably be accused of carrying on a vendetta.
4. Whatever (notional) loss occurred, it is now an effective profit of 10% because TB rates are now at 22%. If “individuals” can’t understand that, it means these “individuals” lack even the very basic understanding of finance that I have. So why do these “individuals” insist on making fools of themselves over things they don’t understand ?

      • 9
        20

        Cont..
        5. This not to deny that Mahendran, Ravi, and Aloysius are guilty of insider dealing and bribery. BUT the transaction itself was perfectly legal. Making profits is not a crime, especially when it isn’t done with public money. I do hope “individuals” understand the last sentence.
6. You are yet to produce a detailed accounting of alleged “egregious” losses (in fact nobody has). If you do that simple thing, I will get off your back. Do feel free to waste a few minutes of your precious time on it. Please.
7. Why would my identity matter? The arguments are valid. Would it matter if I am a Professor of economics, a former Auditor-General, a former CB deputy governor, or all of the above? I assure you I am even less important than you.
        5. This not to deny that Mahendran, Ravi, and Aloysius are guilty of insider dealing and bribery. BUT the transaction itself was perfectly legal. Making profits is not a crime, especially when it isn’t done with public money. I do hope “individuals” understand the last sentence.
6. You are yet to produce a detailed accounting of alleged “egregious” losses (in fact nobody has). If you do that simple thing, I will get off y

  • 15
    3

    Dear old codger,
    .
    You’re wise, clever, well-informed, etc; and many of us accepted what you’ve been telling us, for many years now. As for Amrit Muttukumaru, I’ve seen his articles – accompanied by his photograph – and I must have read some of them, and probably commented on them. I have not had any personal contact with him.
    .
    I know that if it is about money matters, my comments would not have been particularly insightful. I’m not sure that I have fully understood what your argument with Amrit is all about. However, it now looks to as though you admit that Aloysius and Mahendran did indulge in insider trading, and had windfalls coming their way. Such windfalls are at the expense of average, innocent citizens. In this context I’m one of them.
    .
    As for Ravi Karunanayake, wasn’t he actually a Minister, when all this happened? I haven’t ever “met” him, but i have seen him at close quaters and heard him

    • 14
      3

      Oh, dear,
      .
      That happens to me sometimes! Incompetence!
      .
      Well, anyway, I don’t know the guy, although I believe I have some blood relationship to him. His grandfather was supposed to be “Jungle Dissanayake” who was one of the leaders of the attempted Coup of 1962. My maternal grandfather was a very decent guy named Truton Dissanayake, and they were from the same village of Urala, near Wanduramba.
      .
      All irrelevant without doubt; but it shows what a small world this is. I’ve been told that Ravi K. is a guy who always knows how to talk nicely to people, but both his competence and his honesty have been questioned.
      .
      In the end, it must be acknowledged, that although some of this talk can be interesting, it can also be confusing. It looks as though all these challenges to indulge in arithmetic was to cover up the fact that what these guys were doing was “legal”, but not “legitimate”. Just like Ranil’s appointment as “President”.
      .
      Learn a bit of plain honesty from Dr W.A. Wijewardena. Owing to his plain speaking, my mind clicked and I’ve found this about the first CB Governor:
      .
      https://en.wikipedia.org/wiki/John_Exter
      .
      But I don’t understand his Inverted Pyramid.
      .
      And it will take a long time for us to trust you as a guide!
      .
      Panini Edirisinhe

      • 20
        9

        Sinhala_Man

        1) As I have repeatedly stated ‘old codger’ under cover of ANONYMITY is MISLEADING readers BIG TIME by DECEPTION.

        2) The DECEPTION mainly relates to being in DENIAL of the WRONGS under the WATCH of his HERO Ranil Wickremesinghe.

        3) Even when responding to you on the permission granted for the docking of the Chinese research ship ‘Yuan Wang 5’ in the Hambantota Port, ‘old codger’ was economical with the truth when he/she told you – “Again, it wasn’t Ranil who granted permission, but Gota.”. I CHALLENGE ‘old codger’ to SUBSTANTIATE this.

        4) In this instance, it relates to DENYING the ENORMITY of the ‘Bond Scams’ under the WATCH of Wickremesinghe who UNPRECEDENTEDLY brought the issuing agency for Treasury Bonds (CBSL) under his direct purview as then Minister of National Policies and Economic Affairs.

        5) The ‘Bond Scams’ are EGREGIOUS not only because of the HUGE LOSS to the people but also because of the terrible ‘Conflict of Interest’ with the involvement of STATE AGENCIES under the WATCH of Wickremesinghe who was then Prime Minister and Minister of National Policies and Economic Affairs.

        6) The State agencies include – Bank of Ceylon, People’s Bank, SLIC and EPF.

        (continued below)

      • 18
        9

        Sinhala_Man (continued)

        7) How can ‘old codger’ with a CLEAR CONSCIENCE have the NERVE to tell you “money involved is NOT state money” in relation to PTL borrowing “10bn from BOC” (Bank of Ceylon)? Is not ‘old codger’ aware of the COLOSSAL sums ‘dumped’ into BOC by the government over the years to restore its CREDIBILTY?

        8) Are not the Bank of Ceylon & People’s Bank SUPERVISED by the CBSL and was not the CBSL then under the DIRECT SUPERVISION of Wickremesinghe? Was not Wickremesinghe’s PERSONAL lawyer Ronald Perera PC then Chairman of BOC?

        9) The claim of ‘old codger’ having “several times provided calculations” on the ‘Bond Scams’ is LAUGHABLE. While only considering the bond issue of 27 February 2015, he/she has IGNORED the bond issues of 29 March 2016 and 31 March 2016.

        10) Even on the 27 February 2015 bond issue, after initially attributing a LOSS of a mere “360M rupees” and later “an annual loss of 360 million”, ‘old codger’ now refers to “1.6 billion over 30 years”. Hence, are not the so-called “CALCULATIONS” of ‘old codger’ not worth the paper it’s written on?

        (continued below)

        • 5
          14

          AM,
          “How can ‘old codger’ with a CLEAR CONSCIENCE have the NERVE to tell you “money involved is NOT state money” in relation to PTL borrowing “10bn from BOC” (Bank of Ceylon)? Is not ‘old codger’ aware of the COLOSSAL sums ‘dumped’ into BOC?”
          How much more ridiculous can you get, AM?
          Aloysius PAID BACK the money plus interest in a few months. Please feel free to check the records. If your so-called contention is right, then we are all criminals when borrowing money from state banks. Please, AM, being bereft of arguments is not a crime, but why make it so obvious?
          “11) The LOSS to the people due to the UNWARRANTED increase in INTEREST RATE on the 30 year maturity 27 February 2015 Treasury Bond issue alone is HUGE…”
          You really consider 1.6 bn over 30 years huge? Is it worse than 20 billion in ONE year? As I said earlier, being consistently obsessed with one issue while ignoring bigger ones is a clear indication of a vendetta.
          Give it up, AM. It is clear you have neither the ability or the experience to do the sums yourself. Nor, apparently, do you have the foggiest idea how securities trading works. You depend on people like DJ for “evidence”. It seems you reckon that 3% over 30 years is an “incalculable amount”. Get yourself a new calculator.

      • 18
        10

        Sinhala_Man (continued)

        11) The LOSS to the people due to the UNWARRANTED increase in INTEREST RATE on the 30 year maturity 27 February 2015 Treasury Bond issue alone is HUGE when considering its IMPACT on FUTURE Bond issues. The DIRECT LOSS (27 February 2015) has been estimated by the Auditor-General to be Rs. 1.6 Billion.

        12) I state with RESPONSIBILITY that the IMPACT of the LOSS of CONFIDENCE in the country, economy and integrity of the banking system due to the ‘bond scams’ with STATE INVOLVEMENT is ‘INCALCULABLE’.

        13) If as ‘old codger’ claims the ‘Bond Scams’ are NOT EGREGIOUS (i) what was the RATIONALE for the ‘footnotes’ placed also by Dr. Harsha de Silva on the Sunil Handunnetti led COPE report on the ‘Bond Scam’ ? (ii) for then CBSL Governor Dr. Indrajit Coomaraswamy to reportedly seek the approval of the Attorney-General to place in the public domain its forensic audit “as it could influence the upcoming presidential election”? (‘Sunday Times’ 3 November 2019) (iii) for Parliament to be DISSOLVED on the EVE of the 2015 General Elections when the D.E.W. Gunasekera led COPE report on the ‘bond scam’ was to be presented to Parliament?

        14) I believe it is HIGH TIME readers DEMAND that ‘old codger’ REVEALS his/her TRUE IDENTITY.

        Amrit Muttukumaru

        • 5
          15

          AM,
          “what was the RATIONALE for the ‘footnotes’ placed also by Dr. Harsha de Silva on the Sunil Handunnetti led COPE report on the ‘Bond Scam’ ?”
          For the umpteenth time, show us your own calculations of an “immeasurable” loss if any. What the devil does it matter why anyone placed footnotes? The actions of third parties are irrelevant. If you have proof, show it to us.

    • 9
      19

      SM,
“Such windfalls are at the expense of average, innocent citizens. In this context I’m one of them.”
Not in this particular case. I will explain very simply.
1. A bond issue is a case of the state borrowing from the private citizens or institutions. So the money involved is NOT state money.
2. Aloysius borrowed 10bn from BOC (as a a good customer) and used it to buy 10 bn worth of bonds (interest inflated by 3%) which was kindly arranged for him by Ravi and his father-in-law Mahendran.
3. In effect, Aloysius LENT 10bn to the government for 30 years.
4. Quite soon, Aloysius sold the bonds for (I think) 14 bn. to various entities including EPF. That’s known as the secondary market. So Aloysius made 4 bn profit. He paid back BOC in full.
5.Why did the EPF pay a premium? Because they they are in it for the long term (a steady income)
6. Now, who lost money? Certainly not you or me. The govt lost by paying 3% extra for a few years, but since the current rate is 28%, not a big deal. Also, since the rupee has lost half its value, the debt in real terms is only half. By 2036, it will be probably amount to a couple of million in today’s money.

      • 9
        19

        Cont’d.
        7. Aloysius certainly lost. His profits were appropriated and his distillery shut down. Ravi K had to resign, and Mahendran fled.
8. What was the crime? BRIBERY, INSIDER DEALING. NOT causing “incalculable losses” as some claim for reasons known only to themselves.
        Windfalls are not a crime. Sometimes they are taxable. Lending or borrowing money too is not a crime. Otherwise, dear SM, we would all be in jail, don’t you think?
But when entities like Srilankan lose 20bn in a YEAR, it is definitely your money and mine. I wonder why these doughty and voluble anti-corruption fighters have nothing to say about it?
I have done securities trading myself (just one of the things I dabble in!), so you may trust me on this. Unnecessary problems arise when individuals with no first hand experience twist or obscure facts for political or other reasons, misguiding entire gullible electorates .

  • 3
    0

    LP
    Only the vermins can not agree with your comment. Who are these two vermins. one must be EE!

  • 3
    12

    Ranil is not accused of personally benefitting from the
    Bond Scam of Mahendran whom he had trusted.
    Many MPs at the time had accepted money it was said, not denied.

    • 4
      14

      Justice,
      People with vendettas carry on even if there is no proof. Often, they have multiple vendettas. It is really a psychological problem.

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