Daily Archives: October 3, 2010

CL Financial Collapse: What were the regulators doing?

“Given that two-thirds of their liabilities are non-insurance, how could it be legitimate to consider CLICO an insurance company?”

CL Financial bailout – Closing the circle

by Afra Raymond

Amidst the raging debate on the rights of the disappointed depositors versus those of the anxious taxpayer, I am continuing to examine some more of the fundamental issues.  Yes, I accept that there are depositors amongst the taxpayers, but those interests are not in alignment, hence the discussion.

By making a legislative proposal to frustrate the CLICO Policyholders Group (CPG) litigation, the Trinidad & Tobago government seemed to have conceded the merit of the protestors’ case.  Those proposals have now been withdrawn and on Friday 1st October, the Prime Minister gave an extensive reply to the CPG. The strategic decision seems to have been to retreat from the narrow corridors of legality and strive for the broad perspectives of the entire nation.  The apparent decision is to favour an act of persuasion over one of sheer power.  Given our norms of governance in these parts, that is no small shift and it is a welcome sign, quite apart from my agreeing with the stance taken.

Most importantly, the Prime Minister announced a Commission of Enquiry into the collapse of both CL Financial and Hindu Credit Union (HCU). Continue reading

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Filed under Barbados, Business & Banking, Consumer Issues, Corruption, Economy, Ethics, Offshore Investments

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Click on the banner to visit one of our country’s hardest working environmental action groups.


Filed under Barbados, Energy, Environment

Wind Turbines at Lamberts, Barbados – How close is too close?

A look at Barbados Light & Power’s proposal – Part 3

First, our apologies to those who sent us articles and materials 3 years ago…

Back in 2007 when BL&P’s proposed wind turbine installation at Lamberts was a relatively new topic, many good folks sent us information, articles and photos. We opened a folder, started some drafts and intended to do a series on the project, but then we had a computer meltdown that lost everything including the wind power files. One thing led to another and we never did recover the files or complete the wind power series – but Shona found the lost files last weekend!

It just goes to show you. In September 2007, Clive burned a CD with some article ideas and brought it to one of our Friday meetings. We took it home and it’s been sitting in a pile of “stuff” on the bookshelf for 3 years. (I know, I know. I really should do a better job of arranging my office.) On that CD was a copy of the wind power materials that we thought were wiped out by the crash.

Some of it might be a little dated now or eclipsed by events, but we hope that publishing the materials now will inspire some discussion in light of the current “Green Economy” push by the Barbados government and the renewed interest in the wind farm proposal at Lamberts. As you can see in the photo at the top where the turbines are creating a vapour trail much like an aircraft at high altitudes, wind turbines are not beneign – they have an impact upon people, environment, economies, land values and so much more.

Can we predict all impacts and mitigate the bad while keeping the good?

That’s a question that deserves open discussion by a well-informed populace.

Barbados Free Press previously published two three wind power articles that I can find right now.

1/ November 14, 2006 Barbados Wind Farm Question: What About Low Frequency Noise?

2/ September 5, 2009 Bizzy Williams asks BFP readers: “Should Barbados pursue wind generation of electricity… and if so, where?”

3/ October 5, 2009 William Kamkwamba – Building windmills from garbage, hope from nothing

Better late than never, here is our 3rd 4th article on Wind Power…

Recommended Distance for placement of wind turbines and the effect if sited in close proximity to dwellings. Continue reading


Filed under Barbados, Energy, Environment, Health