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Regulator captured by the mafia: Harsha

18 August 2012 05:49 am - 27     - {{hitsCtrl.values.hits}}

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Commenting on the resignation of SEC Chairman Thilak Karunarathne, UNP MP Dr. Harsha De Silva said the ‘regulator has been captured by the mafia.

Speaking to Daily Mirror online Dr. De Silva said he made this prediction about regulatory capture during the past week

‘”Earlier this week I said that the country will witness what is called the regulatory capture, and this is exactly what has happened. The regulator has been captured by the mafia” he said.

The economist turned politician said the resignation was an indication of the general breakdown of law and order.

“To avoid market failure the government appointed a regulator and when he is captured what you see is government failure. This is one example of the breakdown in law and order. Politicians protect criminals who commit crimes like murder and rape. This political patronage has extended to those who allegedly commit white collar crimes too and this is a good example of it,” he said. (Hafeel Farisz)
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  Comments - 27

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  • hansan Saturday, 18 August 2012 10:43 AM

    You are exactly correct Sir.

    Dalu Banda Saturday, 18 August 2012 10:55 AM

    Harsha, why do you think that a honest man is required for CSE whereas every other institutions run by dishonest ? You name any thing, and do root course analysis there is 10-20% or more.

    Leela Sunday, 19 August 2012 11:30 AM

    A civil war is the last thing this country needs. An overhaul of the opposition is what the country needs. If the oppositin can't give any alternatives, then please shutup!

    joel Sunday, 19 August 2012 12:07 PM

    kan and laksiri said it write on of the directors of the IPO's companies was a commissioner of the SEC all this should be probed. The Mafia is actually the SEC with hidden agenda of some employees who were manupulating the commissioners to their whims and fancies . Now probably the truth will come out.

    laksiri Saturday, 18 August 2012 11:41 AM

    entire nation is corrupted including the supreme.you do not need security exchange commission without having any capacity to stop the crime of the day time.just look all the transaction which was recorded in computers and look who are the directors of public quoted companies manipulated price before they sale to EPF/insurance.just example. one company directors sold over 50m shares to EPF after manipulated price of their company shares once it was IPO.in the same time these people have insider information that EPF/INSURANCE are buying the shares in future at the time. if harsha de silva need to look this check the EPF shares and who sold the sahres and how price manipulated by directors and ask them to refund the money EPF .when the nation without law how you expect to have law in order in the stock market.people to very careful to invest this dirty market control by bunch of criminal.

    ranjith Sunday, 19 August 2012 01:12 PM

    are you and your party trying to stop all crimes happening in Sri lanka or when it comes to money [ white collar ] only ?

    chamindha Sunday, 19 August 2012 01:36 PM

    people have to think there is a opposition party in Sri lanka or not ?? only economists speaks about economic problems in the opposition party. the party is not talking any particular issue about the crimes facing the genaral public today from all corners and they just ignoring or trying to give up to the government. today no balanced democracy exists in other country in other words the govt is too strong or the opposition is too week. an unfortunate situation for the Sri lankans.

    wickrama Sunday, 19 August 2012 01:48 PM

    What exactly would you suggest the opposition do instead of educating the public through media statements?
    Tell me one if you can!

    Siripala Sunday, 19 August 2012 02:37 PM

    One day the honest investors will be after the skins of the "mafia" and they will stampede over the rotten carcases.
    NAME and SHAME them.

    Dinesh Sunday, 19 August 2012 03:13 PM

    Yes...opposition just barks only never bites. The country is in this state because of these barking opposition.
    "Barking dogs seldom bites"

    Citizen Perera Saturday, 18 August 2012 02:07 PM

    We all know very well that this government carry on with their own agenda and opposition making press statements, ... and we citizen are onlookers. This drama should stop and positive action should be taken by patriotic citizens

    Gulliver Gunathilaka Sunday, 19 August 2012 03:26 PM

    What you say is mere truth and we all are with you. But the question is that are you doing enough (actively) rather than just criticizing, to direct our country towards right direction?

    Nodrog Saturday, 18 August 2012 06:10 AM

    ....and all we get from the opposition is a whimper of protest when they should be shouting and protesting at the top of their voices. The opposition leader is only interested in consolidating his own position.

    Calistus Jayatilleke Saturday, 18 August 2012 06:25 AM

    Well said. Absolute truth. But the million dollar question is what would the Opposition be doing to rectify such anomalies because people expect more concrete action, and not mere words, from the Opposition to steer the country on the correct path. No wonder the government is running a one horse race with nary a care for anyone or anything.

    kira Saturday, 18 August 2012 11:27 PM

    Wonder Sicilyans live in Sri Lanka!!!! Do they ware sarong's ??

    mahesh Sunday, 19 August 2012 01:45 AM

    Why can't you expose the names of mafia. I bet you know & will not expose. Why cant you take legal actions. Opposition MPs are just puppets. Shame on you.

    Amila.G Sunday, 19 August 2012 02:32 AM

    Every thing in this country is captured by Mafia.

    kan Saturday, 18 August 2012 06:56 AM

    Dear Mr.Harsha, please call for probe on some IPO issued during 2011 some of which share price dropped as much as by more than rs.20 just in a few months after it was issued. (that is Rs.29 share dropped below Rs10 just in a few months of its issue). Merely talking of mafia will not help, there should be some action and see those are involved in the insider trading are punished.

    sarath Sunday, 19 August 2012 05:17 AM

    Laksiri you are correct. We need complete overhaul of the country management system. As things are only a civil war may save the country, as we patriotic citizens see it. otherwise for some consolation at least 80% honest people should be in controlling positions or Judicery with their oven controls, should be be above all controlling positions.

    WarELephant Saturday, 18 August 2012 07:54 AM

    What can the opposition do except inform the voters. Remember that in a democratic system the opposition does not have executive powers to take affirmative action. They can only inform and bring to the parliaments notice. Even if they took to the streets, the people don't care, because the stock market is beyond their immediate concerns.

    Richardson Saturday, 18 August 2012 08:05 AM

    Now the stock market has become a stuck market.

    Can't we convert this in to a fish market,If you can tolerate the smell . But today's stock Market stinks to high heaven!

    Richardson Saturday, 18 August 2012 08:07 AM

    Most M P s do not know the difference between the Stock Market and the Fish market !!

    Tameelephent Saturday, 18 August 2012 09:02 AM

    opposition make only media protest. we need a opposition who can fight against corruptions, injustice and Mafia. To days opposition do not represent people grievances instead they try to consolidate their positions. sad and pathetic.

    Sanjay Sunday, 19 August 2012 08:26 AM

    Why don't u start taking action by getting on to the streets like they do in India and Bangladesh???

    Ranjith Sunday, 19 August 2012 08:31 AM

    You know what will happen to anybody who would be brave enough to exposes the names of Mafia leaders. Supporters of the regime want those who challenge the regime to go to courts. Listen to the recent comments made by retired judiciary experts about the system

    upul Sunday, 19 August 2012 08:46 AM

    Recent incidents in UNP shows that There are Mafia style games in your party also.


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