What Lies Beneath

The inability of the authorities in Trinidad AND Barbados to fully unravel the CL Financial mess and by extension CLICO in Barbados shines a bright light on an inadequate regional governance system.  There is also the insight to be gained by Barbadians from a Trinidad jurisdiction where Transparency Legislation is enacted and operationalized.    What have we learned that has forced to improve how pan-Caribbean institutions are regulated.


The public is being told that the CL Financial bailout is being resolved, while at the same time the Minister of Finance & the Economy is withholding the fundamental information which any prudent person would need to make a decision.  So, what is the secret?

Apart from the details I have been asking for, there are other questions which occur to me –

  1. Directors’ Fees – What is the comparative level of Directors’ fees before and after the bailout on 30 January 2009?  In particular, what are the fees & expenses payable to CL Financial Directors?  Have those increased?  If so, to what level and on what rationale?
  2. Related Party dealings – We were told that one of the main causes of the CL Financial collapse was excessive related-party transactions.  Has that pattern of dealings has really changed? What are the contracts between the group and companies in which Directors hold…

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  • Pingback: What Lies Beneath – Black In Barbados


    What Lies Beneath? Fraud Massive Fraud
    keep a top eye on Barbados and watch the show , learn well what not to do,
    Restore Law and Justice NOW …No Clear titles to land , do not buy , can not sell, All suckers welcome , you are hereby warned.


  • Since businessman Bizzy is asking the two political parties to stop begging business people in Barbados for money to fund their political campaigns, maybe, just maybe we will see less of the political pimping, bribing, extortion, beholden politicians, favors to business people, selling out the taxpaying majority to business people and minorities, favors to friends who are CEO/Management of businesses etc, that has been prevalent for decades and that has done such a wonderful job of finally bringing the island and taxpaying state entities such as the Transport Board to their knees by insurance companies such as CLICO, CGI, etc..


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