Champagne sipping Barbados Finance Minister pleads against “excessive discourse” about CLICO disaster

Minister Chris Sinckler cautions against a “frenzy”

Oh yes, Minister Sinckler, his friend Leroy Parris and all the other big ups who helped build the CLICO house of cards would love to see limits on public discussion about CLICO.

The Minister of Finance urged “all parties, including the media, not to try whipping up a frenzy”.

We’ve got news for Minister Sinckler: There’s a whole lot of people on this island and throughout the Caribbean who don’t trust Minister Sinckler or the DLP government. The DLP and senior Ministers (including the late Prime Minister Thompson) have an all too close and non-transparent relationship with CLICO, Leroy Parris and the rest of the people who took our money.

Minister Sinckler and the DLP government still have too close a relationship with Mr. Parris.

Here’s a photo (above) published in The Nation last week showing our Minister of Finance socializing with Leroy Parris. It looks like business as usual to us and just about everybody else who saw the photo.

Frankly Minister Sinckler, we’re not interested if you “just happened” to be standing next to Leroy when the photo was taken. It’s a small thing when compared to your party’s long history with Mr. Parris.

Tell us this, Minister Sinckler: How much money did the Democratic Labour Party receive from CLICO and associated companies and people over the years?

Is the DLP going to give that money back to the folks who lost everything?

Minister Sinckler, did the fact that Leroy Parris and CLICO supported the DLP have anything to do with the lack of government oversight about Clico? Did the fact that former Prime Minister David Thompson was CLICO’s lawyer for years and years influence the DLP government’s policies towards CLICO? Does the long term close relationship between CLICO, Parris, the DLP and David Thompson still have any influence on the DLP government?

Hello? Minister Sinckler? Hello?

Here’s an article from Barbados Advocate where Minister Sinckler asks folks to not ask so many difficult questions about CLICO. As always, we ask our readers to visit the newspaper to read the article, but we’re going to print the entire piece here because the Barbados Advocate often deletes stories to change history.

Finance Minister: ‘CLICO issue must be correctly handled’

By Nadia Brancker (Barbados Advocate online story here)

“THE CLICO matter, if not handled properly, could cause a major disruption in the social and economic fabric of Barbados.”

This is the view given by Chris Sinckler, Minister of Finance and Economic Affairs during the Debate on Estimates 2011/2012 yesterday in the House of Assembly.

Sinckler expressed concern that the potential of this matter to cause a major disruption of the Barbados economy is greater than some people want to imagine.

“I am not living in a dream world. I know what is going on and we have to be careful,” he warned.

The Minister of Finance urged “all parties, including the media, not to try whipping up a frenzy”.

“I beg them analyse, probe if you must, but be absolutely careful not to inflame passions and incite actions that could lead to the detriment of the interest of those we want to protect.

“I say this to the opposition as well: Do your job, say what you have to say, but do it with a level of responsibility that ensures that this matter does not deteriorate to cause a major disruption in Barbados.”

He believes, “This challenge with CLICO is one that would face us going forward as an economy, to the extent that Government is going to be called upon to play a major role in addressing the issue that will come out for an orderly settlement of this matter.

“Since becoming Minister of Finance, I have deliberately tried not to engage in excessive public discourse that could potentially harm the interest of policy holders and depositors alike, who have millions of dollars in investment tied up.

“Unfortunately, it has served the narrow interest of some to seize upon the unfortunate plight of so many to try to play on their justified strained emotions and to whip them up into a frenzy in a way that would cause more harm than good, which is shown recently in the newspaper.”

He added, “Last year, the late Prime Minister, with the concurrence of the Cabinet, established an Oversight Committee in 2009 to examine the operation of CLICO Life Insurance Company, CLICO Holdings Barbados Ltd. and all of its affiliates and to appropriately ascertain the true financial state of the company. The committee subsequently reported its findings and recommendations:

“The key recommendation was the company should be placed under judicial management. As I have stated, this process has moved to the stage where the matter of what happens to CLICO and its companies is entirely in the hands of the judicial manager and the High Courts of Barbados.

“While the public thirst for action in these matters is justifiably intense, it would be…potentially damaging for anyone in this Government to engage in ill-advised commentary that tramples on a matter that is now subjudicate.”

Sinckler remarked, “To that extent is that this Government remains committed to ensuring that [the interests of] policy holders and depositors with CLICO…are protected. That is our sole responsibility.

“I give you the assurance as Minister of Finance, acting under the guidance of the Prime Minister and the Cabinet of Barbados, [that I] will beseech my team at the Ministry of Finance to work with the judicial manager if so desired to find the fastest and best solution in the interest of all the parties.”


Filed under Barbados, Business & Banking, Consumer Issues, Corruption, Disaster, Economy, Ethics, Political Corruption, Politics, Politics & Corruption

22 responses to “Champagne sipping Barbados Finance Minister pleads against “excessive discourse” about CLICO disaster

  1. just want to know

    I’ve said it already, it’s a politician club.

  2. whipping into a frenzy?

    The only whipping required here is of the wrongdoers involved in Clico just before they get led away to Dodds.

    A public whipping without champagne bottles and fully chained could send a message that there is a price to pay for stealing millions of taxpayers and pensioners hard earned dollars.

    What an idiot for having his photo taken with Parris or was he laughing at us?

  3. rasta man

    Minister Sinckler says “I will BECEESH my team at the Ministry of Finance to work with the Judicial Manager etc” I thought he would be INSTRUCTING them???

  4. Mac

    Same shit, different day!

    I think it’s about time for a march to parliament to demand answers and transparency. What do you think Enough of the grumbling in the rum shops, time for people power to happen to show gov that enough is enough.

  5. Wily Coyote

    When and If the “little man in the street” wakes up and finds his pension monies are being enjoyed by some BIG UP to support his extravagant lifestyle outside Barbados; I suspect the riots of Egypt, Libya, Tunisia etc. will look like a tea party.

    The result however is the “little man in the street” recovering his money will no doubt come to the same result as trying to piss up a rope.

  6. watcher

    Story of the year 2010,2011,2012,2013,2014,2015…and likely 2016. Wake up folks and demand your money.

  7. 120

    Paris is no fool he is taking the company to court to get his. LOL.

    Maybe he is handling the Clico issue better than the media of Barbados. :grin

    This another reason why Barbados needs Integrity Legislation. If the legislation is put in place tomorrow, and is properly written, a lot of persons will leave Barbadian politics alone and find other means of robbing poor people.

    In so doing persons who are genuinely interested in the welfare of the populace will come forward to lead.

    As it is, these persons don’t want to come forward to be apart of what is happening currently.

  8. David G. Brooks

    BFP to quote you …

    Tell us this, Minister Sinckler: How much money did the Democratic Labour Party receive from CLICO and associated companies and people over the years?

    The cheques for campaign support, etc. were never made out to the DLP as a whole … they were made out to an individual … guess who?

  9. David G. Brooks

    i.e. you asking the wrong question …

  10. yatinkiteasy

    It is quite disgusting the amount of money earned by an ignoramus, inarticulate, uneducated, racist , arrogant, Parris, and even more disgusting how the former Prime Minister (for whatever reason) supported, protected, and defended him.
    Will the History books ever reveal the true story of Clico Barbados/Parris/Thompson/DLP/ graft/greed/ fraud, or will it be all swept under the carpet in time, with no one being prosecuted for their illegal deeds, and ill gotten riches?

  11. Our politicians are never held accountable…that’s the problem. It’s time we spoke up and made them hear….

  12. an outsider

    I am not a policy holder, but my reasoning is that if Parris could file a suit against the company, how come nomention is made of a counter suit against the same Parris or the company.

  13. FearPlay

    Maybe government and policy holders should take a page out of the copybook and also file a claim against said insurance company and its owners/directors for CTC (collapse through carelessness). What’s good for the goose should be better for the gander.

  14. Macroboy

    This situation is proof that Government in Barbados has reached a point where justice no longer applies to them or their friends. This situation may or may not change with the election of a new Government.

  15. Liberal

    @ Mac Don’t march,just vote!

    @ yatinkiteasy And well educated young bajans can’t get a job!!! Disgraceful.And you tell our young people about going to school study hard and get good grades,and this buffoon walking around,no strutting around like he made himself.He belongs where Stanford and Madoff are!!!

  16. Liberal

    Just look at the photo.A disgrace.You would think with all the controversy surrounding this man that the Mins.Of Finance would have the sence to know this is not the company he wants to keep at this moment.But if he wants to be buddies then take the responcibilities of government away from him so he can socialise with whom so ever he wants to.

  17. Pingback: Prime Minister Freundel Stuart to Barbados: I don’t care about conflicts of interest, Leroy Parris is my long time friend. | Barbados Free Press

  18. Y'know....

    ….up to about 6 months ago, I was going to vote for the Dems again
    but recent events are swinging my opinion towards either not voting
    (maybe deliberately spoiling it?)
    –OR– voting for the other …un-mentionables/un-breakables
    as the only bitter choice I have!

    Where is Richie and the NDP, when we need him?
    But that load is shot, never to come again, so no use crying now.

    I feel trapped.
    I feel like a fish in a barrel, with someone overhead looking to shoot me.
    I feel cornered by exceedingly odd circumstances
    in a Barbados I no longer recognize!

    We are at a sorry juncture.

  19. Baje

    When will bajans wake up and tell this autopilot government enough is enough. Leroy parris can drive bout Barbados in the back seat of his or is it Clico’s mercedes and poor people who put their hard earned money into clico suffering daily but we have a lame duck Prime Minister boasting that Parris is his pal and he will not forsake him. This is the same Prime Minister that just have the same work load as the former prime Minister had on his death bed, the same Prime Minister who cannot say a word on where the country is headed, who cannot come to the defence of poor people in this country but who finally opens his big mouth but wait it is only to defend Leroy parris not policies holders or poor people. Lord send an answer for we.

  20. Watchful

    @ Baje

    He will…it’s called Armageddon! 😉

  21. Pingback: Finance Minister Chris Sinckler silent on CLICO’s political donations to DLP | Barbados Free Press