Rape of the ordinary person: Privatized profits, Socialized losses.
That greed and fraud are prime causes in the collapse of the CL Financial / Clico house of cards is obvious to anyone. In Trinidad and Tobago, the Colman Commission is charged with getting to the bottom of the disaster – at least on the surface. Most of us believe it will be nothing more than a whitewash with all the big-boys doing their best to conceal their own roles and protect their fellow conspirators.
Let’s not forget the goals and strategies of people like Lawrence Duprey and Leroy Parris…
- Maintain the Code of Silence.
- Delay, delay, delay.
- Secure their personal assets, well hidden away and/or transferred to proxies, family etc.
- Argue that they were victims of the “world financial crisis” and events over which they had no control, and could not have been expected to foresee.
- Destroy records, use legal means to avoid showing records, and do everything in their power to avoid having to answer direct questions in public.
- Above all, first and last: Maintain the Code of Silence.
Caribbean news media maintains the Code of Silence
In his most recent article on the debacle, journalist Afra Raymond compares the US bailout with T&T and makes the stunning observation that, proportionately, the Trinidad and Tobago CL Financial bailout is TEN TIMES WORSE than the US situation. Paying this off will take food from the mouths of Caribbean children for generations.
Thanks to Lawrence Duprey, Leroy Parris and all the rest of the scum who did this to our future by Privatizing profits and Socializing losses.
Afra Raymond also makes a list of some people – including news editors – who should be making submissions to the Colman Commission. Oh yes… for years these people took big advertising revenues from CL Financial and Clico and ran “exclusive” news stories about the companies that were little more than advertisements. In exchange for advertising money and free content, the Caribbean news media pumped CL Financial, Clico and publicly worshiped Duprey, Parris and the rest while ignoring the many elephants in the room.
The news media has much to atone for…
Smashing the Code of Silence
I have been preparing my submissions for the Colman Commission and took some time-out to start reading the Report into the USA’s financial crisis.
Of course I am referring to the Financial Crisis Inquiry Report, which was published at the end of last month, about a year after its first hearings – see http://c0182732.cdn1.cloudfiles.rackspacecloud.com/fcic_final_report_full.pdf.
Even though I have barely scratched the surface of this 662-page work, it has already been a deeply fascinating read, filled with cautionary insights.
The first conclusion of that Report is worth citing –
“We conclude this financial crisis was avoidable. Continue reading