My work here is done!

@Carson C Cadogan

And Good Riddance to you!

That picture is about LIFE in BARBADOS .

Could have been Owen or MIA in the same picture.

Executives Annuities. mmmmmm

So the Executives who bought these annuities were not aware of the risks or were they duped ?

Another question,

1) Did David Thompson have policies in this company ?
one would assume that as attorney and friend of Parris, most likely he and his wife did.

2) Did he cash in his policies the same time as Parris,
most likely he did

3) If Parris was being paid 8o,ooo.oo dollars per month, what was the retainer’s fee for Thompson.

Carson answer dat cause you like you pun de payroll.

SARGEANT, sincee thanks for your efforts to put the facts straight; i should have said former client and friend as indeed he was. one more thing, i was saying that mr thompson should have breached the lawyer/client code and divulged mr parris’ business but he could have offered the advice to his former client and friend to hand over the contract unless there was some antivcipated fallout fon this course of action. in my view any action which renders the work of the oversight committee ineffective contributes to a waste of taxpayers money. don’t you thinkso?

Mr Layne said in today’s Sun that the Committee’s work was hampered by lack of information and presentation of contractual agreements. Low and behold, Leroy Parris can now have the same missing documents to sue CLICO. But how in heavens’ name can Leroy Parris be sitting still on CLICO’s board and now suing the same company? This is total madness!!! You see why some of these people should be in Dodds?

Remember in the early stages David Thompson said that he had asked ICBL to purchase CLICO Life. What Thompson did not know is that he could not make ICBL buy CLICO especially since there was bad blood between the two companies and the government because as soon as Thompson became PM, all of the government contracts which ICBL had were taken away and given to CLICO General. Thompson had to share the fatted calf and CLICO had to start making back some of their money lavished on the DLP glitzy campaign.

Furthermore, the government no longer owned majority shares in ICBL. But the main problem was that Leroy Parris thought ICBL was stupid and was going to buy a pig in a bag. He was uncooperative and refused to provide the information that ICBL wanted. They therefore pulled the plug on the negotiations. Thompson never again mentioned the ICBL and CLICO deal.

That’s legacy for you!

Quotind enuff ” | March 12, 2011 at 2:17 PM | The late PM has always been a stranger to the truth”

Do you mean that David Thompson was a damn liar, and that he lied even on his dying bed, and that having a pastor around was only another means of fooling people, because in truth David Thompson was NOT a Christian. David was a complete and utter non-believer. He believed in no God, no afterlife, therefore he felt free to do whatever he liked because he knew that once his body hit the dirt in St. John that was it.

@Random Thoughts

Who said anything about a lawyer lying on behalf of his clients? Since the conversation is about Thompson’s role as a lawyer at what stage did his work for CLICO/Parris become morally or legally compromising?

Didn’t CLICO and or Leroy Parris fire those employees who refused to sign the documents for those toxic Executive Flexible Premium Annuities?

If he fired the employees does that not mean that he knew that he was selling junk and when the employees refused to be morally or legally compromised he fired them?

Don’t ask me ask NIS.

The shit ain’t hit the fan yet. A good number of these multi million dollar Executive Flexible Premium Annuties come due in 2012, just wait until the doctor/lawyer/banker class annutiy holders realize that they won’t be getting a fcuking cent, because the money just ain’t there because the whole thing was a ponzi scheme from the beginning, just wait until the doctors, lawyers, bankers and engineers realize that their money was used to pay Leroy Parris $80,000 a month, plus benefits, on top of benefits. Just wait until the doctor/lawyer/engineer Harrison College boys who have never worked for $80,000 per month in their lives realize that they were screwed by the elementary school boy.

David Thompson CLICO’s legal adviser permitted the rape of CLICO and he was ready to permit the rape of ICBL as well, but ICBL refused to pull its panties down and lay down. The rapists like a lot of rapists was a coward (now a dead coward) and when ICBL refused to play the fool he left them alone.

David Thompson’s legacy is $19 mllion of the tax payers to his family and friends at the Barbados Turf Club, $10 million of the tax payers money to CLICO, and untold loses to ordinary Barbadians.

He is without a doubt the worst Prime Minister Barbados has ever had. But when push came to shove not all the tief’ money in the world could save his sorry ass.

David Thompson left no honorable legacy. He had no morals. He had no shame. He had no love for the Barbadian people. The love of money is the root of all evil.

And what does it profit a man if he gain the whole world and loses his own soul.

And I don’t care what Hartley Henry said at the funeral. Hartley can’t think for me.

However I like William Layne’s thoughts as expressed in today’s Sunday Sun “I don’t believe Government should come and give money to a group of people who ran a company into the ground…any government that does that should be [drawn] quartered and dragged through the streets.”

@Sargeant

The terms of reference of the Oversight Committee has never been fully known. The findings of KPMG(?) evaluation of CLICO assets is being anxiously awaited.

Unfortunately Sinckler has indicated he will issue an ministerial statement only when the JM is appointed.

Then perhaps we will know.

BU has to reitterate we are very disappointed by Leroy Parris’ recent action.

His action is akin to rubbing salt in a wound.

tell-me-why do you not rmember that the central bank governor saiid that there was nothing wrong with mr parris drawing out his money. obviously then there would be no difficulty in mr parris obtaining permission from the governor to transfer funds anywhere.

I thought gov’t had agreed to repay persons, or Thompson stated that gov’t would ensure that people did not lose their investments, and this was made not only to Bajans but to the OECS. Thompson and Darcy Boyce left them and we high and dry. True to form, blame the people. Greed. How is it greed to take the highest offer for your investment, from an entity regulated by gov’t? Greed is taking more than you are entitled to, more than is good for you or by acting in a manner so as to deprive others of what is rightfully theirs. So if the company had offered 5% like the rest would the investment be safer? Was there not a care of duty that should have been exercised by the regulators, Clico Board, Clico chairman and management, whether it was 5/10/20%? Should they all not see prison?

Now could the morons on this blog please explain if you can truthfully state that investors and policyholders are guilty of the above, or was it Leroy Parris and Clico? Can you state that David Thompson is innocent in this matter. Did he profit by having investments and getting out early with his friend PARRIS? Is his widow Mara enjoying the benefits of this ‘greed’, wiping her mouth and looking on the people of B’dos with limpid gaze with not a word, except a vow to carry on Thompson’s work. Thompson family secure while mine lose out. Parris wife sipping champagne, while I now got to budget for my weeked beer. Stupse.

@ Charlie

No one ever said it was dlp only problem. The problem here is that the opposition gave advice and upto to this day it still hasn’t been followed. The opposition is to blame for not regulating the company enough. Both parties have vested interest in clico. The issue is now that the government at hand doesn’t want to do anything to clico which it must do. So it keeps increasing the worry daily that clico is above the law. The failure of goverment currently to do anything and parris sue the same company that currently employs him have us all of us bajan pissed.

A word to the wise is sufficient.
A Ponzi scheme is
http://en.wikipedia.org/wiki/Ponzi_scheme
A Ponzi scheme is a fraudulent investment operation that pays returns to separate investors, not from any actual profit earned by the organization, but from their own money or money paid by subsequent investors. The Ponzi scheme usually entices new investors by offering returns other investments cannot guarantee, in the form of short-term returns that are either abnormally high or unusually consistent. The perpetuation of the returns that a Ponzi scheme advertises and pays requires an ever-increasing flow of money from investors to keep the scheme going.
The system is destined to collapse because the earnings, if any, are less than the payments to investors. Usually, the scheme is interrupted by legal authorities before it collapses because a Ponzi scheme is suspected, or because the promoter is selling unregistered securities. As more investors become involved, the likelihood of the scheme coming to the attention of authorities increases. While the system eventually will collapse under its own weight, the example of Bernard Madoff’s investment scandal demonstrates the ability of a Ponzi scheme to delude both individual and institutional investors as well as securities authorities for long periods

It really doesn’t matter which government was or is in power regarding the CLICO debacle. It has to be addressed and those who are responsible for misleading investors must be brought to justice. I agree with Random thoughts that it was more like a PONZI scheme. Assets of the company and those of the directors must be seized and sold to repay the policy holders. There must be a PUBLIC inquiry ASAP and charges must be brought. The present government unwillingness to do this will result in a loss of support. So far their performance has been less than impressive and does not give any confidence to the electorate that they are capable. If the BLP is successful they will have to tackle this head on or they will lose the respect of the population. This is a very serious matter that NO government should ignore.

To all CLICO and BRITISH AMERICAN policy holder please get together and organize a protest march to show that you want the truth and JUSTICE. DO NOT SIT BACK AND CRY IN PRIVATE! GET UP STAND UP STAND UP FOR YOUR RIGHTS. DON’T GIVE UP THE FIGHT!

This will cast a shadow on any type of investments in the future in Barbados. No one will trust anyone including the government especially when they want to sell bonds to raise revenue.

I do not think that this government will move with any haste to push the appointment of a judicial manager forward. The life of the Oversight Committee ended in June 2010, David Thompson was still lucid and able to manage Barbados according to him and his doctor. If he was serious, David Thompson would have put the company under judicial management then. The Oversight Committee was another of David Thompson’s deceptive ways of doing things.

What has me peeved in this whole thing is that we are now learning thanks to the BIG IDIOT’s law suit that Leroy Parris is back on the board and that is having a say in the managment of the company. I have never seen such nonsense in my life. By the way, is it legal that this company has mainly Trinidadian directors? Is this right?? To think that this man is a director and is now suing the same company having raped it to the point now it is in so much trouble.

I agree with enuff that the contract printed in the Nation was signed after the fact. Never trusted David Thompson. I also agree with islandgal246 that the directors AND LEROY PARRIS need to be held accountable and given the same treatment as Bernie Madoff and Alan Stanford.

Leroy Parris does not have a heart, I am convinced. For him to have received since this debacle, $3.6 million and three payments of $30,000.00 and more than $1/4 million in matured policies even in the face of little people not getting back a penny and want more tells you that he is a man with a SEARED conscience.

I hope he rots in hell with David Thompson.

in what way? enlighten me and i will withdraw te comment and apologise.

Carson Cadogan and Hamilton Hill, in the face of the people’s outrage over this scandalous CLICO debacle, both of you continue to trivialise/ diminsh the importance of the issue, simply because you are blinded by DLP loyalty.

Parris certainly has not reciprocated the do-or-die loyalty that Thompson demonstrated to him, seemingly over and above the commitment and responsibility that he (Thompson) should have shown for the collective citizenry of Barbados.

Parris, after a long period of silence in regard to expeditiously providing updates to his company’s Policy and Annuity holders, has suddenly burst back on the scene, not in the interest of his clients, but consumed with his own greed to claim TEN MILLION DOLLAR!!
He doesn’t even care that in that process, he has sullied the rigged reputaion of his loyal-to-the-end, dead and excessively idolized King, by revealing a dubious contract of some year’s vintage, signed by the same dead king.

If only the dead king could be brought back to life in the same way that DEAD CONTRACT was revived only to satisfy a greedy need!

The contract was conveniently HIDDEN from the THOMPSON appointed Oversight Committee. The elusive document appears to have been reported to the said Committee as being NON-EXISTENT during the time THOMPSON WAS ALIVE yet THOMPSON said nothing to his own committee, to inform them that HE KNEW such a contract existed!!

Now there is Sinckler in the House today, appealing for light to the people of Barbados, pleading with them to keep quiet, while Sinckler surreptitiosly eases back into directorship positions at the SAME companies he is suing for TEN MILLION DOLLARS!!!

Sinckler appealing for light, while his “boss” P.M. Stuart reclines in blissfully extended hibernation …. drowned in inertia, and unresponsive to the needs of the people of Barbados.

Siickler appealing for light, while he hobnobs with the enemy of the people, laughing and drinking pink Sandy Lane champagne, confused about whether his loyalties should be with the citizens or the plunderers!!!

And you want to defend that behaviour, Hamilton and Carson?

Mr. Stuart, wake and do something! i am tired of your fancy speeches. If you do ONLY this one thing, go right this minute up to the Pine at CBC DLP TV and RADIO, and dismiss PARRIS on the spot!!

@ Truthman Burton did you read my first post? Where or how was I blinded by loyalty? Anytime and everytime I make a contribution to BU, I do so on the premise of ” To Thine Own Self Be True”. If I were one that stood to lose money in this mess I would be going crazy all like now, so therefore I do not take lightly the implications that this can have for those who can least afford to take the hit. I am confident that you Truthman (Mr.Slick/ Mr. Shrewd Tactician )Burton did not miss my point , but chose not to goad me for recriminations that you know I can find ,which may shine the light where its glare may cause discomfort for you. At the end of the day as a man that needs to work six days every week just to survive, I know my place. Yes I love my party ,but I love my people more. And you ? …….Can you say the same? Answer me that.

I am astounded on two things. Firstly, that it has taken this long for a judicial manager to be appointed, secondly, that persons who were in management before the obvious CLICO ‘issue’ have now resumed their positions on the Board, without an explanation of the current status and without an apparent resolution in place.

Furthermore, that the resumption to a position on the Board took place, apparently anyway, ‘in the dead of night’, gives an alarming impression.

I hold no brief nor sway for any party, but at this point one is given to asking ‘what gives?’.

If this situation is not presented to the people by no less than the PM in a clear manner, while also presenting the plan of action at the same time, it looks like the next election will be very interesting indeed.

One would expect that the BLP is getting its machinery in gear with haste.

If much more time goes by with this issue ‘unsettled’, the result of the next election will be a foregone conclusion.

Terrible, terrible management of the issue.

We waiting for who will be announce the JM since chris announce that their is one.