Devil’s Advocate #4 – CLICO Issue by Kammie Holder “Valid Opposing Needed”
I have never agreed wholesale with any decisions governments make. However, I must say that other Caribbean Countries look to Barbados for leadership. Thus with this Clico/BAICO issue which Vincentian leader Ralph Gonsalves seeks to copy our model and trying to save the policyholders’ funds.
I am a policyholder and also a former employee of Clico and have encouraged many persons to invest their funds in the FPA which is different to the EFPA.
For 13 years the powers that be allowed Clico to sell this EFPA which is a deposit taking plan despite much protestation from other Financial Institutions. The proverbial excretement hit the fan under the DLP. This is a balanced view and not a political view.
Many of my former hardworking work collegues who still work with Clico and have mortgages may now lose their properties. Any government worth its salt must seek to preserve jobs foremost. I think the Prime Minister acted correctly in trying to save the company.
The ripple effect will be devastating for the Barbados economy if a buyer cannot be found. To me this clearly shows me what is wrong with opposition politics in Barbados.
The DLP and BLP are both guilty of opposing for opposing sake which to me is nefarious and smacks of deceit. But who I am to have a view on anything, just a boy from the village who once cut canes for a living and wash dishes in a restaurant!