Afra Raymond

CL Financial Bailout – Impunity Insanity?

Barbadians have acquired a reputation of having short memories. One subject not making the news cycle of late is the CLICO fraud matter. Questions about the role late prime minister David Thompson and DLPites played in the demise of CLICO, and the lack of appetite to pursue key players known to have been associated with CLICO remain unanswered five years later.

It is a shame the first item on the Barbados Investors and Policyholders Alliance (BIPA)   third annual general meeting is “Ascertainment of Quorum in accordance with Organization’s By-laws”. BU understands these meetings are not well attended which is a big disappointment with 25,000 policyholders listed to be at risk.

AfraRaymond.net

© 2015 Dion Jennings © 2015 Dion Jennings. Used with permission.

The headline ‘Duprey wants back CLICO‘ in the Sunday Express of June 28th 2015, did not surprise me at all. That is exactly the threat against which I have been warning throughout my campaign against this appalling and unprecedented bailout.

To allow Lawrence Duprey to regain control of CLICO would do serious violence to the fundamental notions of the law not allowing persons to benefit from their wrongdoing.

Already, we can see various positions being taken – the Movement for Social Justice and Peter Permell of the CLICO Policyholders’ Group stating their objections, while Mariano Browne (former PNM Treasurer and Minister in the Ministry of Finance) and Mary King (economist and former Minister of Planning) setting out what seem to be supportive positions.

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