CLICO solution – restructure
By E. Jerome Davis | Mon, January 14, 2013 - 12:00 AM
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A number of parliamentarians have already declared their investments in CLICO. With this in mind, would it not be a conflict of interest if the same parliamentarians are the ones to determine the Government’s action regarding CLICO?
And would it be fair to the majority of taxpayers in Barbados if they are called on to foot the massive bill to repay Barbadians who took it upon themselves to invest in CLICO?
Would those investors have been willing to share their profits with taxpayers had CLICO not fallen on hard times?
The solution to the CLICO debacle should have been to restructure, among other things, and keep it afloat, thus letting it pay its way out of the financial mess in which it found itself.
The Barbados Teachers’ Credit Union successfully did it before – why not CLICO?
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