CL Financial bailout – restating the Case

“…Tell no lies. Expose lies whenever they are told. Mask no difficulties, mistakes, failures. Claim no easy victories…”
—Amilcar Cabral, 1924-1973

counterfactual (plural counterfactuals)

  1. A claim, hypothesis, or other belief that is contrary to the facts.

This is the start of my Season of Reflection, my two-month period of deeper and hopefully more fruitful work. This article will appear on Wednesday, 31 July, the next day being Emancipation Day (1 August 1834), the real start of the Season, the next point being Independence Day on 31 August (1962) and the third is Republic Day on 24 September (1976). The meaning of those events is deep, as they denote the outlawing of slavery of African people to the end of British colonial rule and then the birth of our Republic, crystallizing real equality amongst humans, at an aspirational level at least. The special sequence of those holidays adds to the Season as part of our efforts to build a civilisation.

This special Season of Reflection, I am going to be taking a fresh look at the CL Financial collapse and bailout to see how those can cast a certain light. Continue reading “CL Financial bailout – restating the Case”

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CL Financial bailout – the Caribbean Connection

My previous article examined the November 2007 appointment of Karen Nunez-Tesheira as our Minister of Finance by then PM, the late Patrick Manning. For whatever reason, the consternation over the appointment of Christian Mouttet to investigate the #ferrygate imbroglio is reminding me of the confusion many people felt when PM Manning made that appointment. An eerie echo from the past, in this, The Season of Reflection.

This article appears the day before the anniversary of T&T’s 55th Independence Day. This week I examine the recent claims by the CLF group and its supporters as to its Black origin and so on. Those claims can be summarised as:

‘CLF is a black-owned and controlled conglomerate which has fallen into some difficulty and had to seek a bailout…it would be a tragedy to have such a company destroyed by liquidation or otherwise by the sitting black government’

This is emerging as a key element in the Duprey campaign, so it has to be seriously scrutinised by looking at the origins of CLF, the current stance of its shareholders and the pan-Caribbean aspects of this issue. Continue reading “CL Financial bailout – the Caribbean Connection”