Disturbing stock market trends

Tuesday, 11 September 2012 00:46 - - {{hitsCtrl.values.hits}}

I am very disturbed by what I have read in your paper and in the independent media about what is going on in the stock market.

Scandals and many unwanted deals have happened in the recent past. To name a few the Greek bonds loss, NSB being forced to buy a stake in bankrupt The Finance Company, EPF investments, CPC crisis – the list is endless. But to date no one single official has been brought to book, other than the forced resignation of the NSB Chairman and the sudden exit of two respected professionals from the SEC.

Why is it that the people responsible for the Greek bonds investment, EPF investments, the culprits in the NSB deal and CPC are not brought to book? The new SEC Chairman Nalaka Godehewa is being accused of hundreds of conflicts in the media. But he continues despite being an accountant by profession.

The Finance Chairman Preeti Jayawardana – again an accountant professional – continues in his role even though the other party to the fiasco Mr. Kariyawasam resigned in disgrace.

These people have lost touch with reality. There seems to be no honour like that which was displayed by the two former SEC heads. They should learn from people like that.

We need sanity to prevail again in the stock market. The current run may be another disaster for those poor retailers, who borrow and invest in the market and who needs protection at any cost. Only your paper can do that, by reporting the truth. Davinda