CL Financial Bailout – Fear of the Facts

“…Whilst in the last five-year administration, the management of Clico, CLF and the associated companies were shrouded in secrecy by the UNC administration, this PNM Government has no intention of operating in that manner. This Government will operate in an open, transparent and accountable manner as it has been doing…“ (The emphases are mine) —Extract […]

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7 thoughts on “CL Financial Bailout – Fear of the Facts

  1. Caribbean people have to keep their eyes peeled on this CL Financial Group, particularly if Duprey manages to buy back the entity from the Trinidad government, particularly if there are spin off subsidaries surfacing in Barbados headed by Leroy Parris and his latest sidekick Peter Harris.

    The people have to be vigilant and research thoroughly any new companies showing up with scams that sound too good to be true.


    If you really live faithful and true
    And your family care about you
    Luckily for you its nothing new
    And maybe you will get old too
    I can’t unburden my mind at all
    Its nothing to fear
    Don’t shed a tear
    Just get in gear
    Just another year
    The sky wails in distress
    Praise Him you’ll see it
    And be simple just stay fit
    Take your veggies and vit
    Time ran out ‘hmm oh shit’
    That’s why in awe I am singing
    But the goodness you’ve shown
    Some things you still trying to hone
    Lucky if you see your kids grown
    And all your crops reap and sown
    With that my mind wants to soar
    Life was good now and then
    Remember the bad times when
    When you try to catch a fat hen
    Can you now at 3 score and ten
    Tidal waves of tune flood my being
    So what, you had a darn good life
    There were times sometime strife
    Sometime sticking you like a knife
    By your side there was a good wife
    I want only the words that hide behind
    My dreams and in the shadow of my mind

  3. As cirrectly analyzed by this article……thiefing CLICO executives and the corrupt governments are resoonsible for not reining in their own greedy ways, they caused the collapse by enabling and condoning crimes against policyholders.

    “In the case of CLICO (Guyana), it needs not be forgotten that the PPP Government erred in not carrying out its fiduciary and oversight responsibility, which allowed this company and Globe Trust to fall into non-compliance. The absence of enforcing the Laws of Guyana not only created space to ‘do as you please,’ but without technical support to offer advice and direct operation things were bound to fall apart. Saying this does not free CLICO of culpability, but at the same time it does not absolve the PPP Government’s act of failing to shoulder and carry out its responsibility.”


    Good news…the same government inaction, refusal to enforce regulations and government corruption will send the fraudulent ponzi schemes and thieves posing as insurance companies into a tail spin….karma lives.

    “RECENT CREDIT RATING DOWNGRADES and Government’s fiscal problems are threatening the ratings of Barbados’ $3.24 billion insurance industry.

    A.M. Best, the world’s oldest insurance rating agency, yesterday warned that the danger was real.
    The United States-based entity’s public relations manager Chris Sharkey told the WEEKEND NATION that A.M. Best’s recent decision to place the credit ratings of Sagicor Financial Corp. Limited (SFC) and its subsidiaries “under review with negative implications” was “a recent rating action where the situation in Barbados was a factor”.

  5. Minister Jordan stated, “We are working on that. Our priority, of course, is to get back our money, and like I said, unless it is a rogue investment, we don’t look down on investments generally, certainly not coming from a CARICOM sister organisation so let’s focus and keep our heads on straight. Our priority is that we want back our money. Once that can happen, we will look at other opportunities.”

    BIPA priority should also be “we want back our money”.

  6. It’s the government to tell CL Financial they want back the over 50 million dollars of taxpayers money they now have to shell out to policyholders, because thiefing Duprey, Leroy Parris and Davud Thompson raided CLICO, they need to tell Duprey they want the money returned to the taxpayers, if they cant pay the policyholders directly….instead of enabling him in another scam.

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