Prime Minister Freundel Stuart has done the unthinkable by breaking his silence on the CLICO mess. To quote him: “. . . Wait. There is going to be a lot to be said on this. Do not mistake my silence for an incapacity to speak. The time will come when all things will be made clear and explained. I ain’t saying anything yet” He added: “I have a list . . . of all of the persons who invested in the Executive Flexible Premium Annuity [EFPA], but I ain’t saying nothing yet. I know all the people who earning quick money, who were entranced by the lure of attractive interest rates. I know them, I have all of the names”.
Given the pace – or lack of it – at which Stuart moves Barbadians should not expect to hear from him anytime soon. Instead CLICO policyholders would prefer to hear the government enunciate a plan to resolve the plight of the policyholders.
So what if the Prime Minister has a list of Barbadians who bought the EFPA? Of course we agree with him greed played a part and high interest rates offered by the Parris led company resulted in the predicament many EFPA policyholders find themselves. The question we want the prime minister to answer is why was CLICO allowed to sell the EFPA and who should ultimately be responsible.
The Prime Minister’s statement is obviously meant to deflect from the unfavourable barrage of public opinion directed at the government. The incestuous relationship which exist between prominent Democratic Labour Party (DLP) players and Parris explains why the DLP is forced to defend the indefensible. AND there is the shattered legacy of the late David Thompson who was the ultimate ‘’’ÇLICO insider’ to consider.
A search of BU archives will turn up many blogs complimentary of Leroy Parris. We are on record of praising his rags to riches story. However, BU will not be distracted – our concern is one issue the CLICO investigation has exposed and which no sensible explanation has been offered so far. On page 9 of the Forensic Audit Report $3.33 millions dollars was made by CLICO Insurance Life on behalf of CLICO Holdings Barbados Limited supported by a fake invoice. The Group Financial Controller Terrence Thornhill was interviewed by Deloitte Auditors who confirmed the finding.
So Mr. Prime Minister go ahead and use the list of names on the Schedule of Executive Flexible Premium Annuities (EFPAs) included in the Forensic Report which was not made public, BUT, also take the opportunity to explain the $3.33 million dollar payment on a fake invoice and the fact the invoice was emailed from firstname.lastname@example.org.
We are wary and weary of the political gymnastics Mr. Prime Minister. We continue to look for signs that Mr. Integrity is back!
The dems will turn to their folks in the diaspora, fly them in to vote like Denzil Douglas did in St Kitts.
ac, girl/man/boy/girl, let St Kitts be the example. Despite all that Douglas did, refused to debate the no confidence motion ………just like the dems did two week ago, and flew in plane loads of people to vote when the people ready to kick your tails out, they will come out en masse!
Who would ever imagine a non entity like Freundel Stuart would ever rise from such a loser……….first time he won a seat twice was last election (and by vote buying) to become such a buffoon, a want to be dictator. You dont see he is looking more and more like Robert Mugabe.
Arrogant NO does not allow operatives or those of like mind to set the agenda,
why instead of the blp operatives wasting their piss ,pissing all over PM Stuart not tell the electorate how Mia mottley intend to pay tuition fees for the hundreds of barbadian students attending the UWI if elected
Also please tell the electorate what plans they have for guaranteeing jobs for the unemployed including those who were retrenched .
Day after day the same ole silly talk about the how ugly the PM like anybody really gives two hiccups,
Time to get out the trenches and rolled out a manifesto that zooms in on solutions instead of quarreling among selves while standing idle without a strategy for correctness thus leaving a wide open field for Team barbados to knock the ball outside the ball park.
….instead of the blp operatives wasting their piss ,pissing all over PM Stuart
Brass bowls are natural receptacles for such waste….
ac finally admits that they are out of ideas and out to sea.
Dr Mascoll outlined on Sunday how and where they will find the money, so you could shut to hell up.
Wait, remember…….”we dont want to hear nutten from wunnah, any ideas wunnah got keep to wunnah self, wunnah had 14 years, now is we time and we gine do things we way”!…….Donville Inniss.
Resign if you do not know what to do as all else has failed!
ac March 23, 2015 at 11:34 PM #
“Time to get out the trenches and rolled out a manifesto that zooms in on solutions instead of quarreling among selves while standing idle without a strategy for correctness thus leaving a wide open field for Team barbados to knock the ball outside the ball park.”
The DLP’s answer to the economic crisis was to introduce the Medium Term Fiscal and Medium Term Development Strategies, both of which were given failing grades by none other than the Central Bank’s governor, Dr. Delisle Worrell.
Wuh shiite, if the DLP had any proper or resourceful solutions of their own, Barbados would not have undergone as many credit rating downgrades, as has been the situation during the past 7 years.
As I would have said in another post on this Republic idea remarked on by Crusoe
“Lost in Transition”
No relation to Lost in Translation or Transmission.
The Process of Moving to A Republic has with it many “grey areas” which can, and will, extend the tenure of a government (the DLP) that is doomed to be replaced.
Add to that the fact that “there is to be no Referendum on this movement ot Republic” and that this is consequently “a done deal” for Fumble, what we have here is a Dictatorship on the Horizon of Bulbados.
I am a Simple man, bereft of the sartorial skills of well read men like (i) Fumble and (ii) illiterati like Buffalo Stinkliar and his inability to know where to place a decimal point.
If you are wise enough to read the tarot cards, like any diviner of these things, what you will see is something similar to the recent issuance of new currency into the Bajan economy, just a trick to increase money in circulation and thereby falsify the true state of an economy that has shrunk significantly.
I am sure that there are no records and mechanisms which tracked the recall of old bills and their replacement with new bills.
But wunna fellows like Mr. Walter Blackman and Artaxerxes would be able to expand on what the real purpose of this so called replacement monopoly money was.
“REPUBLIC BY DECREE” another word for “DLP FOR LIFE” because in the hiatus of changeover, normal general elections going be abolished, the constitution OBVIOUSLY changed, and all uh we going have to continue to grease we pooch for a more thorough bvlling
Yes yes as i concurred with Crusoe in that posting, we all should be wary en trufe….
So, will Barbados have a new Queen?
Getting rid of the bacteria at Q E H, is more important at this juncture than getting rid of Q E H M.
Wanna see this Republic ting….I gine tell nah wha I hear thru d grapevines…..Two ole brek back sheep put out to pasture… (who shud really be out in the departure lounge eva sense) decided to play Republic….One nosy fella conspire wid de next short crutch ‘animal’ to mekk he Presiding officer if the plan come off….Wanna cud image dat? Some sheep really doan be up ta nuh good when it come to dem own…..D odder head so confused wid all the goes-in -on…he glad fa a diversion and a shoulder to cry pun….imagine dat nuh…suppose um true? hey hey..
@ old onion bags March 24, 2015 at 6:10 PM
‘One nosy fella conspire wid de next short crutch ‘animal’ to mekk he Presiding officer if the plan come off….Wanna cud image dat? .”
Onions, I am not poking my long lying nose in any short body’s business but how can that be when there would be no King Arthur and Queen Julie?
Neither can there be a Presidential reject called Sir Seymour with his frequently absent Lady in waiting Consort Julie.
I suspect you have the boot on the other foot. More like Lord Fumble on Government Hill with Lady Leroy his closet queen consort formerly of Mount Dayrells with Lady God-horse Gollop the jealous mistress.
Boss…..I only tell ya what I earrrrr!
So if he discloses my name can I sue?
Remember I only cashed out after Neval Greenidge moved over the Alico and let the cat out of the bag.
In his “All Ah We Is One” article in today’s Daily Nation, Dr. Tennyson Joseph outlined some very interesting observations about Freundel Stuart. Under the headline “Speech vs Silence”, Dr. Joseph wrote:
“In typical Caribbean authoritarian style, he boasted of having a list of all those who invested in CLICO’s Executive Flexible Premium Annuities, which according to his legal advice “was not a traditional insurance product”. While denying the public’s lack of confidence in the Government’s self appointed oversight committee as a reflection of Government itself, HE CONVENIENTLY SOUGHT TO DEMONIZE INVESTORS WHOSE TRUST IN THE EXISTING REGULATORY INSTITUTIONS HAD INDEED INFORMED THEIR INVESTMENT DECISIONS IN THE FIRST PLACE.”
“STUART’S MAIN CHALLENGE IS HIS INABILITY TO CONVEY GENUINE HUMAN EMPATHY AND IDENTIFICATION WITH HIS PUBLIC. He uses language to score points rather than to convey feeling. Hence his favourite weapon is silence since it is the most effective tool for simultaneously achieving these twin goals. HE IS A LAWYER ALWAYS AND A HUMAN LESS FREQUENTLY.”
“In a context of a failing economic environment, there is a lot to suggest that the Prime Minister is merely enjoying ‘power for its one sake’..”
Surely Dr. Joseph must be commended for his accurate description of Freundel Stuart.
@ac March 23, 2015 at 11:34 PM ” how Mia mottley intend to pay tuition fees for the hundreds of barbadian students attending the UWI if elected.”
Mia won’t pay the UWI tuition fees. We the Barbadian taxpayer will pay those fees just like we always have.
We are now paying 2 1/2% more in VAT aren’t we?
We are now paying Municipal Solid Waste Tax aren’t we?
Read the Auditor General’s report. We will cut the waste and use the savings for sensible things such as educating our children.
First thing we will do is cut the free food in Parliament. There is no reason why the MP’s can’t bring their lunches from home just like we the taxpayers have to do, or if they are too lazy to cook for themselves they can always pop over to Chefette and enjoy a $9.95 special, and get back to doing the work for which we pay them within the hour.
We will use the savings to send a few of our children to university.
So will we also be telling British tourists to take a hike. No more little Britain.
No more Queens for Barbados Only Kings to come,
So what will happen to all the QCs ,, will they be buried with the Queen?
TODAY ON THE LOW DOWN HOAD SUGGESTS WE CHANGE OUR NATIONAL ANTHEM TO BE SUNG TO THE OLD TUNE. THESE ARE THE WORDS
God save our gracious Froon, long may we sing his tune, God save the Froon. (Music: Pum, pum, pum, pum) Send him vainglorious, of silence notorious, or accents stentorious, God save the Froon! –
PERHAPS THIS CAN BE A PART OF A CALYPSO THIS YEAR
PERHAPS FOLK SHOULD START SINGING THIS ALL OVER THE PLACE
As expected ,we see in today’s Nation that EMERA has set out its intended surgical separation of many of its employees. No ifs , no buts. And what is the Government’s and the Barbados Workers Union’s stance in all of this unilateral declaration of retrenchment, and working conditions.
I do hope that Prime Minister Stuart also has a list of all of those individuals and entities who made a record breaking dash to cash in their BL&P shares, with the Government heading the chase, thus giving EMERA complete control of the sole power supply company on the island.
EMERA and CLICO ,spell bad new for Barbadians.
This hand-to-mouth Government is the reason Emera is able to treat Barbadian workers I the proposed manner. NIS had a significant shareholding in BL&P and shortsightedness on the part of the Government cause these clowns to sell that strategic asset because it was easy money. Now the workers are going to suffer.
How much more of this incompetence can the people of this country take from this Government before they say this is enough, and take steps to rid ourselves of this albatross form around the country’s neck.
Sent from my iPad
Any set of people that would willingly sell their electric utility to a set of white people after our history of slavery with such people probably deserve to be treated like EMERA is treating them….
The idiots in Government on hindsight probably could not be expected to do anything different – bunch of jackasses to sell BL&P shares to put the money in Four Seasons…… but did the employees of BL&P …from the white managers down, not sell their shares to Emera too?
The top managers reportedly made a killing …and seems to have organized the sellout to Emera for that very purpose….
…but that too, is typical….
Here comes Almond all over again…..
“but did the employees of BL&P …from the white managers down, not sell their shares to Emera too?
The top managers reportedly made a killing …and seems to have organized the sellout to Emera for that very purpose….
…but that too, is typical….
Here comes Almond all over again…..”
BUSHIE HERE IS WHERE WE PART COMPANY- YOU TELLING ME IF YOU HAD SHARES THE LIGHT AND POWER AND HAD A CHANCE OF BENEFITTING FROM THE SALE OF THOSE SHARES SAY TO FINANCE YOUR CHILD’S EDUCATION TO CAVEHILL THAT YOUWOULD HOLD ON TO THOSE SHARES IN THE NAME OF PATRIOTISM. MAN YOU CARRYING A JOKE TOO FAR.
“Any set of people that would willingly sell their electric utility to a set of white people after our history of slavery with such people probably deserve to be treated like EMERA is treating them”
Gimmee a brek man.
Yuh does usually talk mo high sorta shite den dis Bushie.
Jus race claptrap,yuh shame man ,yuh shame!
@ Caswell Franklyn March 27, 2015 at 5:25 PM
“How much more of this incompetence can the people of this country take from this Government before they say this is enough, and take steps to rid ourselves of this albatross form around the country’s neck”
The P M claimed during the recent Estimates debates that it was the unions who requested the matter of the retrenched NCC workers be put before the ERT and he merely acceded to their request.
Now the Ag GS of the NUPW is claiming that to be a big lie and that it was the PM’s insistence for the matter to be sent to the ERT promising a speedy resolution.
Caswell, can you confirm who is really telling the Truth?
Doesn’t the P M have the administrative authority and political power with the backing of Cabinet to instruct a statutory body to execute policy directives agreed by the same Cabinet?
And some people on BU want to know why this administration is seen as untrustworthy with little confidence left in it.
“Caswell, can you confirm who is really telling the Truth?”
I really do not know. However, what I do know is that the Prime Minister had no authority to refer anything to the Employment Rights Tribunal. To my mind, the PM is playing the workers of this country for fools. He and his Cabinet made a decision to terminate workers and clearly set out the criteria for doing so. The NCC gave the PM the middle finger and carried out the dismissals contrary to Cabinet’s decision. The PM, rather than instruct NCC to carry out the Government’s policy or else, he took the cowardly way out and refer the matter to the tribunal.
What is he afraid of that prevents him from doing the right and honourable thing instead of talking bull faecal matter to justify his betrayal of the workers of this country?
Sent from my iPad
…so you would sell your business to a stranger with the hope that he will continue to employ you ….so that you could use the proceeds to send your son to university?
…and of course the altruistic stranger will put your needs and priorities at the top of his list….right?
shiite man…. that is NOT how this world works balance.
…Ever heard of a loan?
…Ever heard of making your son get a damn job ..and working to put himself through university?
…Ever heard of sacrificing NON-ESSENTIAL shiite like luxury items such as fancy German /Japanese cars, TVs, French wines etc instead?
If you follow your own advice you are probably living pay day to pay day…..
@ Do Love
Bushie does NOT comment to please you or anyone else….
Just to tell it as it is…
Perhaps you only read local history as portrayed by our friend John, where the altruistic whites, led of course by Quakers, had the interest of Blacks at heart and make sure that their every need was met.
Bushie did not read that shiite…..There was another side to the truth.
Once bitten, twice shy.
Why do you think that Errol Barrow and Tom Adams went to such pains (when we could barely afford it) to acquire OWNERSHIP in these critical areas of state business?
You may be good with waiting cap-in-hand on the good graces of money-focused foreigners, or you may even be one….
But not stinking Bushie….
Bushie does NOT sell his birthrights for a mess of soup…..
Caswell Franklyn March 28, 2015 at 10:41 AM #
To my mind, the PM is playing the workers of this country for fools.
Not only the workers,but the entire population. But he is 51.28% correct.
If Stuart thinks that on this republic issue he has the backing of the Barbadians in North America, who he seems to think has more sense than the Bajans back at home and who are more worthy of his regular visits and speeches, he better think again. They may pay the occasional visit back home and come down for crop over, but how many of them has fall into the Barbados category of ”Returning Nationals”. They prefer to remain in their comfort and secure zones in New York, Boston and Toronto.
At one time the so-called “Returning Nationals” from the United Kingdom, were putting more money into the coffers of this country, than King Sugar, and I always wondered why so many of them still maintained their old homes back in Britain.
Not only will we loose much of the tourist from UK, with this unilateral Republic proposal,but many of those Returning Nationals, may well pack up and become Returning -Returning Nationals of Great Britain.