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Sri Lanka still has few Politicians with Backbone, Clean Hands

Sri Lanka should probe Perpetual Treasuries, EPF, state banks: Eran | Economynext: "Our administration made the Chairman of COPE an opposition member," Wickramaratne said.�"Under the previous administration, it was a government member. In fact, I requested to be removed from the COPE when I was made minister of state enterprises."

There was a public outcry amid reports that Perpetual Treasuries had dumped long bonds bought at high yields (low prices) from rigged government auctions on the EPF.

It is alleged that cosy relationships were established with dealers who enriched themselves through securities purchases for years.

During the Rajapaksa regime, the EPF was reputed as a dumping ground for stocks and earned the accolade of being the 'buyer of last resort', an allusion to the Central Bank's role of being the 'lender of last resort' for troubled banks. EPF is managed by the Central Bank
Sri Lanka still has few Politicians with Backbone, Clean HandsSocialTwist Tell-a-Friend

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