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Submitted by Hamilton Hill
Prime Minister Freundel Stuart

As a boy at secondary school my love for the arts drew me in an astounding way to the Masterpiece called “A Psalm Of Life” written by Henry Wadsworth Longfellow. Today from that Masterpiece I borrow the excerpt “Things are not always what they seem.” Is there any other way to digest the disgusting display of dishonesty, magnified by the simple fact that thousands of us in this person reposed our trust? This CLICO mess is shameful. It is scandalous. God knows that it is also felonious.

For too long the poor folk in our little country have taken it up the wazoo from persons who view their participation in politics as a path to riches. We as a people have always acceded to their ways for in times past, issues like this CLICO master con were raging fires on the political platform, the embers of which were quenched by the thrill of victory by one or the other.

Fellow Barbadians I beg you—lets not allow such to obtain this time. As I said earlier when rats run rampant their droppings can be easily traced, so while the trail may lead us to the St. John’s Parish Church, the rancid odour of this nefarious plot takes us right back to the land of the living. There is where these victims MUST BE MADE WHOLE.

Cynicism I am sure will be the label attached to anyone who dares to question the PM’s new found urgency to introduce integrity legislation to a nation that was promised the same, when expediency was the name of the game. That was then, this is now and “Things are not always what they seem.” You see Mr.PM, you and every last member of your cabinet were there at the Bussa Roundabout.In Bajan parlance association breeds complicity.there too, we see good ole Bajan tiefing as simply that—B or D, it is tiefing.

One path Mr. PM, puts your party (and mine) back in good graces.That path must be used to parade the participants of this national shame on a “perp walk.”Anything short of that says business as usual. The longest walk begins with one step. Anxiously Barbados awaits Frundell’s.


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164 responses to “All Eyes On Fruendel, Justice Must Be Done!”


  1. I would like to know how did Leroy Parris get so much of the policyholders monies out of Barbados as per the forensic audit?

    Did it go through the Central Bank?

    Did in go out in suitcases on the jet leased for $US71,000.00 per month?

    If so much of this stealing was going on by only a directive from Parris, what was discussed at Board meetings?

    Do you think we can get Phony Marshall to say something? Phony, the public would like to know.

    (JUST ASKING, no disrespect to you)


  2. @Prodigal

    The point BU is stuck on is if the SOI had done his job as he was empowered under the Insurance Act the government would not be under duress to solve this matter..


  3. @ David
    Noooooo, if the GOVERNMENT did not try playing Mother Theresa and protecting their election money tree they would not be under duress.


  4. @enuff

    The point which you hve conveniently missed is that liability is being placed on government because the SOI allowed the EFAP to be sold.

  5. millertheanunnaki Avatar
    millertheanunnaki

    @ David | March 2, 2012 at 5:45 PM |
    “Here is a question for Mascoll. Are there not Board Minutes?
    What is he mean directors don’t know what is happening?
    Weren’t financials, inter company transactions etc discussed?
    Sorry by these directors had to be privy to the financial ethos within the company.”

    I don’t think Mascoll is in position to answer this query. Mascoll is on a Kamikaze mission to destroy the image and reputation of David T. Any ammunition or weapon to assist in the final solution would be eagerly taken on board. Try to understand the psychology of the man and his moment in the sun. Who can fault him given, the bad blood than passed between the two and the total assassination of Mascolls’ political ambition and career as executed by D T.

    But seriously, though, do you really expect any person could ever be invited or appointed to the Board of CLICO unless they had the blessing and nod of Parris or Duprey? Give us a break, opposites were never attracted in CLICO only “yes and greedy” men or those with similar inclinations and orientations.


  6. What was illegal about the EFPA? The risk involved?


  7. David; would it help if Government subscribes the $29M or so (the statutory fund according to Mascoll) for the partial relief of the gipped CLICO policyholders (in tacit acknowledgement that their SOIs and Ministers of Finance (3 of them) erred grievously) and have the CLICO assets that can be found sold and also aggressively search for and confiscate the assets of any individual or estate of individuals or company found to have illegally benefitted from the CLICO feeding frenzy, regardless of who those individuals and companies were and what their connections are or were?

    This might not cover all costs but it might be slightly more than what all the experts seem to be now saying about an eventual payout to the CLICO policyholders.

  8. millertheanunnaki Avatar
    millertheanunnaki

    @enuff | March 2, 2012 at 6:41 PM |
    “What was illegal about the EFPA? The risk involved

    They were not genuine insurance policies or annuities. Just long-term fixed deposits wrapped up in a lot of wooly jargon and commercial speak.
    Therefore, very risky with no security backing (statutory or otherwise -low risk investment portfolio) like regular life insurance or pension annuities.
    Just one ponzi or pyramidal scheme to bilk suspecting and greedy punters with extra cash generated from a booming economy, easy money, or ill-gotten gains looking for a home. Hence the many professionals and big ups involved. The adjective “Executive” should say something

  9. An Observer.. Avatar

    @ David
    This question MUST BE asked , especially in light of all the name calling and blame casting : WHO WAS THE MINISTER OF FINANCE IN 2006 WHEN THE SUPERVISOR MR CARLOS BELGRAVE ISSUED THE ” CEASE AND DESIST ” ORDER AGAINST CLICO ? Do you not think this is a question of relevance and which deserves an answer ? I shall wait patiently for an answer before asking ANOTHER question.


  10. BU maintains several of those who invested in CLICO sniggered at him behind his back but that is a discussion for another day.

    @checkit-out

    The complication for government which is the point made by Arthur is that when a Prime Minister standing betwixt the SOI and Governor of the Central Bank signals to the market that people will get their money back, it is something Stuart will find difficult to back out of. There will be a political price to pay if he does.


  11. @An Observer

    Of course it is relevant. It speaks to a systemic issue which is not located in the Thompson tenure.

    Are we saying there was no escalation by the SOI to the MOF at the time?

  12. Observing (definitely not to be confused with observer) Avatar
    Observing (definitely not to be confused with observer)

    I have considered, acknowledged and accepted the KEY factor (though not the only or largest one) in the debacle. Your arguments thus far have been from a legal standpoint only, hence my comments and my intact objectivity. I disagree with the personal invective hurled at the deceased, hence we agree. I have simply maintained that there are bigger issues that affect and impact the living. I have paused, given thought and realised that I am innocent of the charge of condemnation, but zealous in the pursuit of better for my people. Regardless of distinction I believe that our views at this juncture will never be confused….what the future holds however is a mystery.

    Just observing observers and bloggers.


  13. @all

    Apologies, have been experimenting with some voice recognition software which explains some of the fragmented comments of late.


  14. CLICO can’t pay because management failed miserably–poor investments, excessive pay and lavish lifestyles. I keep asking if any of the land that forms part of this administration’s $5 per lot programme was owned by CLF and if so how much they paid?

  15. An Observer.. Avatar

    @ David.
    ‘ Are we saying there was no escalation by the SOI to the MOF at the time”
    The thing speaks for itself David . The thrust of the arguments against the CLICO debacle have been located in the post 2008 period ; the “cease and desist ” order was pre 2008 . Where then is the BALANCE in these arguments ? Where ultimately should the blame be cast ? Your statement ” it speaks to a systemic issue which is not located in the Thompson era ” is very apposite. It however appears that the Thompson / DLP detractors do not recognise this FACT. They all seem to be prepared for the General Elections next week. Well good luck to them .
    @ Observing.
    When all the huffing and puffing is over , you will realise that the resolution of this CLICO matter will be by LEGAL considerations more than anything else. Of course that will be after the General Elections NEXT WEEK.


  16. @ An Observer
    One word–incestuous.


  17. truthman burton can you publish the manifesto written by mr stuart for my benefit. as mark anthony said- where is rhe will, bring me the will.

  18. old onion bags Avatar
    old onion bags

    What a mess ..what a bloody mess….CLico the numbers of known people effected grows daily..all with the same belief that somehow something will be had by holding on in faith…Really had I been one of the affected, I don’t know what I would do. The amount millions in fixed deposits BARP has in CliCO and BAICO are astonding. These people are pensioners ..can they recover and rebound from this loss….I doubt….Leroy &Co have a heart try and give back these poor people their money….PLEASE !

  19. old onion bags Avatar
    old onion bags

    @ Observer
    Thompson / DLP detractors do not recognise this FACT. They all seem to be prepared for the General Elections next week. Well good luck to them .

    Observer you realise this is MARCH 2012….no fear time flying so um soon come elections I mean….
    Count down on boss !…..sooon time for D wilderness


  20. @ Checkit-out —Re your post at 8:06 Point taken Sir.


  21. Fellow bloggers help me out here:

    CLICO Mortgage Finance was sold for how much???

    The General Insurance was sold for how much???

    British American was sold for how much???

    What happen to all this money???

    Cannot the total proceeds help to pay off some of the policyholders and then start by selling some of the other assets that the forensic auditors have found?

    Next step would be to charge Leroy Parris, Terrence Thornhill, Jeffrey Brewster and make Denise Mongerie the star witness. Then and only then will we know the truth!


  22. @Prodigal Son

    Didn’t the report in the Sun suggest the proceeds of the sales were applied to Due from Parent?


  23. David, former governor Mr Winston Cox poured cold water on the notion that the Government had an obligation to assist the policy holders based on the statements of Mr Stuart and Mr Sinckler to do so. I tend to agree with Mr Cox that such statements are not binding without parliamentary assent. On what basis could Mr Stuart or Mr Sinckler be held to account?

  24. An Observer.. Avatar

    @ Prodigal Son
    All of the questions you have posed will have to be resolved by A COURT OF LAW in the fullness of time : fellow bloggers cannot ” help you out here “.
    That is precisely why it is not sensible , except for the expression of an opinion based on objective reasoning , to attempt to try the CLICO matter by use of the blog . I have made the point before that the fortune of the LOCAL CLICO operation has been greatly influenced by the policy of the PARENT ( HOLDING ) COMPANY IN TRINIDAD in the absence of the appropriate legislation in the region to prevent this from happening . As a fellow blogger , I have tried to respond to your request for assistance ; of course , I am sure , you will get several opinions from other bloggers who no doubt will provide their own views of the situation in an attempt to answer some of your questions . You no doubt are capable of assessing the various suggestions you will surely receive. until then , peace my brother.

  25. An Observer.. Avatar

    @ Prodigal Son.
    ……and yes , you should refrain , as far as possible , from reckless name calling especially since you have demonstrated beyond any shadow of doubt , that you are miles away from the FACTS . I hope that the help which you have requested from me as a fellow blogger will be of some assistance. Peace my brother


  26. In the CLICO MATTER people are trying to find quick an easy solutions to a problem that not only affects one individual but affects thousands of people not only in the carribbean but worldwide .The issue at hand is not one branch but all branches related to CLICO resolution by the Court is the only viable option and the government cannot make any decsions fore the CLICO MATTER until these problems are resolved by the Court with due process so all the what should cuduh is not going to make a difference now, The Courts and many of them will have the LAST Word .

  27. old onion bags Avatar
    old onion bags

    Morning gf
    Knowing this about CLICO …seeing that those poor losers are about to be shafted by these buggers….(who by the way always had enjoyment from such during death or life)…would it not be most valiant if those the living would do the right thing and relieve much of the pain and anguish by giving back the stolen monies and stop talking shite about dates of incorporation ?….Come on you diatoms pay up…

  28. old onion bags Avatar
    old onion bags

    If Freundel the Great does not make good on his promises to repay the waiting AX, Barrack,Clico policyholders,Integrity Legislation….he will be showing to the voting public …just what to expect if given another much asked for TERM…the balls..are in his court…Mr. PM what class subject did you learn such_____ while at Boys Foundation School ?

    LIME
    I notice that strike time is soon coming about….ac which FINGER will it be this time the index or the middle….?Another to be added to the above.


  29. Onions

    bf you know that the CLICO debatle stretches as far as Wall STREET to MAIN STREET and you see what happen to the investors in the collapse of wallstreet they all got shafted Barbadosd is only one very small part of the debacle. The Heavyhand oilbarons and owners of CLICO not going to do any thing abou repaying the policyholders and the economy of barbados cannot withstand another financial stress at the taxpayers expense, Now that is the truth.

  30. Observing (definitely not to be confused with observer) Avatar
    Observing (definitely not to be confused with observer)

    Page 16 of today’s paper paints a vivid picture of the culture and corporate mindset of CLF. Culture usually spreads to all organs.

    @ac and observer
    The Barbadian public were assured that all was well, that JDM was unnecessary, that 10 mil would be put in as a sign of confidence, that a solution was coming soon, that they would get back their principal, that CLF’s troubles had no bearing on CIL, that the local company was “soundly and effectively” managed and to keep putting their money in every month. If a public can’t trust its government’s, MoF’s or PM’s publicly stated word, then most if not all is lost, regardless of any legal resolution, facts or assignment of blame.

  31. Observing (definitely not to be confused with observer) Avatar
    Observing (definitely not to be confused with observer)

    This matter alone is enough to make a sitting government dizzy, but the combination of it and all the other “swirling issues” require a resolute, firm, proactive, decisive series of actions, pledges and addresses that can assure the voting public that what can or needs to be done will be….and in the instance where nothing can be done, a reason why and an alternative would be presented. The time for blame and criticism has gone. People are officially hurting. The problems are not entirely of this government’s own making, but, they are the government of the day and hence must govern and lead. Full stop.


  32. @ Observing ,above .
    The full extent of the revelations that came out of the Trinidad inquiry is ample proof that it would have been most unlikely that ANY OF THE POLITICAL officials in Barbados could have had a clear picture of the TRUE CLICO situation . Which politician in Barbados for example could have been remotely aware that the Trinidad officials , as disclosed by the Company secretary Gita Sakal , were allowed to write their own cheques ? she for example had one for FIVE MILLION DOLLARS in her drawer which she said she had no immediate need to cash . Against this kind of ignorance of the state of the parent operation and situation, it was wholly reasonable for ANY political figure in Barbados , on local experience , to assess the position of the LOCAL CLICO as being “soundly and effectively managed “. What has become clear is that in spite of the local management the empire still collapsed .CLICO BARBADOS was NOT the empire ; you should by now be able to appreciate this fact. Or is it a case that if you were to appreciate it your agenda would have , of necessity, to be amended? You may care to inform …..

  33. Observing (definitely not to be confused with observer) Avatar
    Observing (definitely not to be confused with observer)

    @observer
    My reference to trinidad is simply one of corporate culture, not corporate financial status. The late PM was and is not just “any political figure” generally and definitely not wrt local CLICO. A responsible politician not being fully aware of the fullness of a situation and knowing its potential negative impact on thousands of his constituents would be well advised to hold his/her tongue on glowing commendations and positive statements of “fact” less the future fallout proves otherwise. The snippets that have been released raise doubts as to the soundness and efficiency of management and pay lie to Parris’ own statements that CIL is insulated from CFL. Though not the empire it appears the rooks and knights played their part well to detriment of us “pawns.”


  34. BU understands Deloitte’s fees have now reached 6 million dollars.


  35. @observing thev government did not mange CLICO Or CL if the government gave misinformation it was dependant on what management told them. However seeking resolution for the policyholders is goibng to take years so this blame game is not going to solve anything all i see is another attempt by the BLP to score political. points wether B o D wins the resolution is totally out of their hands until again COURTS make the Final Judgement endless and tireless political posturing does not add up to a hill of beans


  36. The issue we all know is about the incestuous relationship which existed between Parris and Thompson and the cash cow which the DLP has been for the DLP through the years. Consequently this mater is about to get a whole lot political on one hand and acquire heightened court activity on the other. A political football if ever there was one.

  37. Observing (not to be confused with Observer) Avatar
    Observing (not to be confused with Observer)

    @AC
    I have previously tried to assist you with your defence before before and I will again do so. Saying that government was dependent on information from management is a loose defence. The late prime minister would have been (as has now been shown) privy to ALOT of information that the public and “regular” politicians would not have been. Hence, one is well within their right to question the solidity of decisions made. I won’t. Also, I’m not blaming a man, woman or child for our current state, it is what it is. What I will say is that neither blaming NOR defending will take us forward. What’s done is done.

    The BLP are absolutely within their right to take FULL political advantage of the situation. Remember Hardwood? Remember 3S? Remember the check?Don’t knock them for doing what ALL political parties and leaders do if given the chance. Sad to say the DLP has provided numerous chances and opportunities, compounded by weak pronouncements and tepid defences, if any at all.

    The COURTS will make the final judgment on the status of Parris et. al. and the compensation if any for the policy holders. The electorate will make the judgment that matters the most. Some of us seem to keep forgetting that absolutely critical and significant point.


  38. @an observer,
    “you should refrain , as far as possible , from reckless name calling especially since you have demonstrated beyond any shadow of doubt , that you are miles away from the FACTS . I hope that the help which you have requested from me as a fellow blogger will be of some assistance”.

    What reckless naming calling did I engage in? Are not those names I mentioned not out there in the public as the key players in CLICO? I do not have a cent in CLICO, I am not stupid to invest my hard earned monies in a company headed by Leroy Parris but I do have friends who have invested large sums as well as holding policies. I have been lending an ear to hear their tales of woe. I know more than you think, that is why I posed questions to see what else is out there.

  39. An Observer.. Avatar

    @ prodigal Son
    If you were as well informed as you claim and not so stupid to invest in a Company headed by Leroy Parris , then , to sit idly by and let your FRIENDS invest and lose their money does not speak well of your loyalty to your friends. I rather think that you let your friends down considerably. What do you now think ?


  40. Prodigal Son “I am not stupid to invest my hard earned monies in a company headed by Leroy Parris.”

    Do you still think Pariss was running CLICO ? As the Trinis say, wheel an come again.

    Clico would have been a successful company if the Owner did not suck the life blood out of it. All roads lead to the Trini.

    I still hope that the poor investors get back some of their money but ….


  41. Hants;
    So that is the defence!
    nice!
    But likely not to stick when live, kicking LP, TT and even Mara are here to provide very recognizable Bajan faces for the blame game. DT will almost certainly feature as well, dead or not. Ignorance will not be accepted as an excuse.

  42. An Observer.. Avatar

    @ Prodigal Son
    Lest you be unaware , one only seeks help when one is convinced that one is unequal to the task. you asked fellow bloggers for help to enable you to make out a case : i proffered some suggestions and you frowned on them . You seem not to know your own mind . I shall in the future think several times before answering your call for assistance . You are less than charitable.

  43. Random Thoughts Avatar
    Random Thoughts

    According to Richard Allsopp’s Dictionary of Caribbean Englsih Usage, 1st edition p. 120 a buller is “a male homosexual; one who commits buggery [See Bull (2) and note.”


  44. @Checkit-Out,

    The Trinis are master manipulators. Why is Clico Barbados responsible for the “small islands”.

    You can hate,despise and cuss Parris but I am right and you know it.

    Parris was the Trini “puppet” and he was supported by strings of educated well qualified people dealing with the management of Clico as dictated by Dup-e


  45. Is it not interesting that we have all these Captains of Commerce/Professions/Industry denying the questionable corporate governance which was practiced by CLICO?

    Does anyone believe for example that long standing board member and Parris friend Leslie Haynes was not privy to the inner workings of the company?

    We have Marshall an experienced banker who sat on the board for a few years would not have asked questions driven by his financial and corporate experience?

    Then there is long serving Woodbine Davis what can one say.

    It is why BU has a lot of respect for Tony Hoyos who resigned from the board of Barbados National Bank on a matter of principle and went PUBLIC with his concerns!


  46. @David who wrote “is it not interesting that we have all these Captains of Commerce/Professions/Industry denying the questionable corporate governance which was practiced by CLICO?

    They all enjoyed the “perks” of working for a Trini Puppet master and his puppet.

    While I am at it, I read Patrick Hoyos article in the Nationnews titled “welcome “. to DenisWorldand . “like investing heavily in loss-making enterprises such as sugar plantations, derelict hotels, and Rayside Construction companies.”

    A Sugar plantation in Barbados is a potential Golf course or “heights”.
    COW is not the only one who could turn Water (plantation) into wine (Heights).

    Derelict hotels in Barbados are usually on the most valuable land in Barbados and as is done in most of the developed world they are bought and renovated or rebuilt.

    Rayside Construction. That company could have been “turned around” with competent management especially since they share the road building calf with COW.

    The above is what is likely to have been written if our fellow Kolij contemporaries at BS&T and GEL had made those decisions instead of the inarticulate whipping boy in this Saga.

    I won’t even deal with the disrespect shown to a Member of the present Government.

  47. millertheanunnaki Avatar
    millertheanunnaki

    @ Hants | March 4, 2012 at 10:26 AM |
    “The above is what is likely to have been written if our fellow Kolij contemporaries at BS&T and GEL had made those decisions instead of the inarticulate whipping boy in this Saga.”

    After many sessions of egging on the people to throw stones at Leroy who figuratively has been put in the stock and pilloried in the public square of public opinion, I have had another epiphany, a Damascene moment, an ‘amazing grace’ experience of a John Newton proportion.
    I have come to the conclusion the “Le Roi” is indeed the smartest man that Barbados ever produced. The title “King” is most befitting of this ‘rag to riches’ son of the St. John soil.
    As I argued before how can a man from such humble beginnings and truncated formal educational achievements be such a genius as to have the likes of lawyers of QC status, bankers, accountants, doctors, priests and a raft of so-called graduates of prestigious learning institutions all entangled in his web of confidence and financial schemes. One can expect politicians or those greedy for power and access to taxpayers’ money to get rich quick to fall gullibly for such schemes. But “Kolij educated and even Cawmere boys” to be so easily entrapped beggars belief.

    But as “Hants” pointed out Le Roi was not the brains behind the “grand scheme of things”. His puppet role to the Grand Emperor of Augustus-like business gamesmanship similar to war games started not in T&T but in Hants’s adopted country. From a merchant ship to a bar to meet the CLICO dauphin studying and preparing for the role expected of him upon the death of his childless uncle the real Father of the Dynasty.

    Le Roi, your Pretended Highness, continue your rule. He, the local governor or viceroy from the place with the citrus name, is free and will remain free with such local loyal subjects in his pockets and at his beck and call for past favours (quid pro quo) and fear of secret files.
    Long live the Govrenor! May the sun never set on his local colony called “Corrupt Bim”!


  48. not confused observing i agree with you that the BlP is within their right to seek political mileage out of the CLICO mess but i believe that the timing is not right since there is enough juicy material in the public domain to pressurise the DLP without the BLP overplaying their hand. They should await for the judicial managers publish further salacious information launch an assault on the DLP’s handling of the issue in the soon to be election. Seizing the moment is always critical and if the clico horse is trodden too early i wouldn’t be surprised if the public is tired with it when election comes around and it has no impact. Then, there goes the master tactician for you.


  49. trying to palm the blame off on trinidad hants and the others like you is nothing short of disengenuos. and hants, who was Mr Parris’s lawyer and closest confidante? and Hants, did Mr Parris’s lawyer and trusted confidante live in Trinidad or Barbados?


  50. david not to forget Mr Jerry Thorne , Mr Decoursey Headley and another gentleman who resigned from the BtIC board over the marina affair for which i understand is engaging the attention of the legal fraternity. nuff respect to them too.The actions of these kinds of principled gentlemen does offer a glimmer of hope for the corrupt system of governance.

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