After various spokespersons, commentators and “mouthpieces” had their say for nearly two weeks, in the face of wise Government silence, the Prime Minister engaged the public discourse in the CL Financial (CLF)/CLICO bailout issue.
I considered then that the public discourse would have been well and finally behind us. After all, as Prime Minister and speaking on behalf of the Government, the Honourable gentleman made a most telling point. He asserted that the Government was both duty-bound and morally bound to do all things necessary to secure the interest of the taxpaying public, a public whose money was used to bail out and therefore avert a collapse of a private entity, and which public was now being misleadingly corralled to protect those who caused this debacle, and as well, to protect those who now wanted to avoid accountability and possibly repayment.
This corralling was being cheer-led by persons who knew better and ought to have acted differently.
Incredible sounds continued coming from these questionable and dubious quarters. In consequence, the Finance Minister further engaged to set the record straight, finesse the context and clarify positions misleadingly set out by such persons. He did a remarkably good job.
Mariano Browne, writing in the Express of August 3, explained that CLF’s problems in 2009 were not solely the result of the then international financial crisis, but that “there were many reasons”. Interestingly, he failed to elucidate. No doubt, he calculated that if he did, he would have had to explain that the whole CLF empire was built on a now very discernible philosophy involving, primarily, the use of other people’s money to build an empire and personal fortunes.
He reserved details as to these…