What “game” is Govt. banking on?

Friday, 20 March 2015 00:00 -     - {{hitsCtrl.values.hits}}

There’s a breathless hush in the Close tonight as I write. Not because there’s “ten to make and the match to win” or “ten to make and the last man in”. But because the match – the match that made all the difference to Sri Lanka’s World Cup 2015 hopes – has just been lost... badly. And all across the island tonight (Wednesday, 18 March) there’s a sense of surprise. A sense of shock. A sense that it could have played out – and been played – better. But there you have it. Cricket: a game of glorious uncertainties. At about the same time, in another arena – banking and the CBSL, not cricketing and the SCG – there is also a sense of surprise. A sense of shock. A sense that it could have played out – and been played – better. But there you have it. Politics: a game of inglorious certainties. Because the match – that match which can make all the difference to Sri Lanka’s revived yet fast-flagging democratic-republican hopes – is being played as a lame game... quite poorly. Of course, I refer to the Arjuna-Arjun saga. Of course, you’ve read just about as much of all that imbroglio as you can stand. And even more about the cricketing fiasco and what-might-have-been that you can stomach it no more. But for the sake of the record, and some recourse still available, permit me to say three things. Happenstance, coincidence, enemy action The first time round, it’s happenstance. The second, it’s coincidence. The third time – it’s enemy action. Happenstance is when a man is the Governor of the Central Bank. Happenstance is when his son-in-law is well-connected to a licensed primary dealer, Perpetual Treasuries. Happenstance is when the man and his son-law, related by marriage, become linked – at least in name – in scandal. It happens in the best of families and financial markets. Coincidence is when Perpetual bids fifteen billion bucks on a one-billion-rupee bond issue, out of the blue. Coincidence is when the Central Bank boosts the 30-year bond issue by as much as ten times. Coincidence is when the Central Bank takes on board Perpetual’s bid to the tune of half the bond’s total value at a rate of interest that took the market by surprise, and had seasoned market-watchers in shock. One even said that whoever approved the Central Bank’s perhaps-unprecedented move must be either an “ace manipulator” or an “absolute moron” (whoever that might be). This might be an understatement of sorts. There is no such thing as a coincidence in politics played at such a high level and for such high stakes. There is no such thing as the char itable view on such a debacle as has the potential to bowl the democratic-republican project out in less than 100 ‘overs’ (to continue the cricketing analogy). There is such a thing as enemy action, however. As we found out in Sydney. As the Government is finding out in Sri Jayawardhanapura. As the Government’s critics all over Sri Lanka are founding the unmaking of ‘Project Good Governance’ on. Enemy action is when the transparent bubble bursts, when the spinmeisters’ spaghetti hits the ceiling, when there’s the odour of realpolitik everywhere. Odour of realpolitik everywhere The bubble begins to burst when even the most charitable of democratic-republicans realises that power tends to corrupt, and access to potentially lucrative information might make men do the most corruptible things with it. (How could a government bent on good governance miss that wood for the trees? The charitable view is that it did.) The spaghetti hits the ceiling when the powers that be appoint a ‘family firm’ – not really related, but with veritably the same vested interests – of investigative lawyers to probe the alleged insider trading. (How could an administration leading the anti-corruption charge leave itself open to such an allegation? The cynical view is that it didn’t, or didn’t intend to.) The odour of realpolitik is everywhere when the most senior of mandarins in this Government muckrakes through the previous regime’s blotched escutcheon at a time like this. (The subversive view is that attack is the best form of self-defence.) The private sector, banks, the CSE/SEC nexus, SriLankan. Really, one might tell the Prime Minister, sir, that his timing could not have been more, well, suspect; or opportune. Notwithstanding the reasons he gave for his tardiness, which we will have to take at face value, him being such a gentleman, Article 148 of the Constitution (which the PM quoted as the raison d’etre for his week-long silence in this case) does not quite cut it in terms of explaining why the Government held its peace on the CB Governor’s “stepping aside” to facilitate an investigation. There is a rationale and a responsibility to the people from whom his Government received its mandate to keep the public informed before Parliament. It’s called leaking the truth to the press. Devil’s advocate for administration To give the Premier his due, he seems to believe every word he says about cleansing the Augean stables left behind by his worthy predecessors. To be fair by the powers that be, their plans and programmes and policies have the ideal substance – if the implementation is a little lacking in emphasis and a little lackadaisical in communication. (If not lax in terms of making its own lackeys tow the lines.) To play devil’s advocate for the incumbent administration, justice seen to be done is justice done, even after the horse has bolted. (Let those who have ears, hear.) But, as so many commentators on social media have said – and, we wish analysts in the mainstream press would follow suit – it is a great pity that the wheels of Government grind so slow in getting things done and getting the message of things done, out. And, it behoves a government ostensibly keen on good governance to smell that great odour-bringer – “conflict of interest” a mile away...   And, act on it, in time... But, on the bright side, at least, under the rule of men entirely great, the pen is mightier than the sword. (There will be other World Cups, too, to tilt our caps at.) And, at least for now, we can openly challenge and critique the powers that be for their relatively trifling shortcomings – despite the song and dance that their detractors are taking a perverse delight in doing at the under-siege Government’s expense. But comparisons are odious. And the vehemently protesting opposition and the whitewashed sepulchres who once toadied to the erstwhile powers that were should know that there’s no comparing apples and oranges, or oppressive regimes with republican opportunists, or cricket with politics. Losing at good governance Sri Lanka lost at cricket on Wednesday, but it can come home with its head held high. Sri Lanka is losing at good governance right throughout the week, as a result of it being too naive or too slow – or both – in addressing an allegation of ‘match fixing’. And in the Government’s home stretch of 30 days more and precious few wickets left, one can only hope that the powers that be will stop playing a ‘gentleman’s game’ and start getting real (but not crooked or cynical) about the calibre of politics that it will take to not only clear its name, but save the side some serious embarrassment, not to mention regret at a brilliant opportunity missed. This might mean that it has to stop appointing ‘friendly umpires’ to referee compromised games, as much as it has to stop packing the ‘side’ with potentially embarrassing ‘friends with interests’. Don’t forget, gents, the Third Umpire is coming to score against YOUR name in just over a month. And it’s no use telling us that the previous “un-cricketing administration” did more “unsportsmanlike” things in its long and cavalier innings. YOU won this toss... and we voted YOU in – so stop complaining, explaining, justifying; and “play up, play up, and play the game”!

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