AM – PM – RK


Why did the Central Bank move from direct placements to public auctions for Treasury bonds?

Because the Prime Minister - PM, who else, wanted it that way. We have the word of guess who, Arjuna Mahendran, on that. He is the AM guy.

So did it help to expand the local –T-bond market, boost investor confidence, and drive down government borrowing costs, as they said it would?

Come one, you don’t have to talk bond shit, about all that has happened.

The Crooked action that moved to the very nadir of corruption was seen in how the Chairmen of the three major national banks were treated over the Treasury bond issue.

None other than the then Minister of Finance – Ravi Karunanayake - RK – asked them to bid the lowest at two Treasury bond auctions, with the assurance there would be no higher bids, and lo and behold, there were higher bids, and from Perpetual Treasuries – a treasure house of perpetually crooked financial dealings.

You mean RK let down or in fact cheated the national bank chairmen?

It is not easy to find a simpler word for that – downright crooked cheating.

Why do you think he did such a thing?

Well, it must be for the Penthouse pleasure and comfort, worth millions that he earned, although he knows nothing about that.

So, it is a somewhat simple trail of the crooked. The PM wants the T-bonds to be on public auction; the Finance Minister – RK- tells the national bank chiefs to bid very low, and no one will bid higher, and the son-in-law of Arjuna Mahendran - AM bids much higher. This is a real Penthouse Tale.

Dammit, how much more crooked can any government get?

We are learning all this from the Presidential Commission on the T-bond frauds. Looks like we will need many more Presidential Commissions to know about the other corruption going on. But, there will be a limit to that, because, how much more can the President expose his Prime Minister?

You mean this is systemic corruption in government today?

Read the reports of the Presidential Commission sittings, especially how AM is trying to be as ignorant as RK, and even more forgetful than him.

Yeah, there is an interesting puzzle about initials – picked from the erased telephone conversations of the key people Perpetual Treasuries.

You mean the perpetually crooked dealers?

Arjuna Mahendran does not know or is not ready to accept that the initials AM in the phone calls refer to him. He even states they could refer to his daughter – who we know is Anjali Mahendran. Of course, there was nothing said whether this AM daughter knew anything about –T-Bond transactions. Possibly nothing from him, because he has said he did not discuss anything about such matters at home – or forgets about such talk, just like RK.

Didn’t the initial puzzle, as AM tried to show it was, make one Commissioner ask an interesting and humourous question?

Yes… he asked whether AM knew Angelo Mathews.

But the lawyer of AM did something more laughable, drawing attention to AM and PM in the hours of the day.

You mean without realizing he was drawing the PM into the picture?

Looks like it. The fact is that even the best lawyers are known to make such slips. He would never have thought of the PM’s order to have only auctions on T-bond, so faithfully followed by AM, leading to the crooked bank chiefs’ cheating activity by RK, which has led to all this exposure of corruption.

So where does all this lead us to?

Not anywhere else but to the crooked corruption in this yahapalana government, which was elected by the people to get rid of corruption, but has now sent down roots and put out shoots showing it to be a hugely corrupt hardwood, posing a huge danger to clean government.

What do you think should be done?

Well, we will have to await the report of the Presidential Commission. But, till then it is good to raise questions as to why Ravi Karunanayake – RK – remains a frontline member of the UNP? Is it his wealth that he boasted about in Parliament when resigning his portfolio, or is it his permanent forgetfulness about Penthouse funding?

This certainly goes beyond an initial probe into corruption. It is an exposure of the initial holders of crooked corruption.

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