Newsday Editorial
Wednesday, February 11 2009
Trinidad and Tobago News Blog
www.trinidadandtobagonews.com/blog
Contrary to reports that had been bruited around that government while it had moved swiftly to bail out Clico and three other CL Financial subsidiaries had not moved to assist the Hindu Credit Union (HCU) it was revealed on Monday that Government had offered a bail out package similar to the one presented to Clico, but that this had been rejected.
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It is patently clear to me that had not CL Financial magnate Lawrence Duprey made his pre-emptive approach to Government in mid-January to mobilize State injection of liquidity into his cash-strapped investment bank, CIB, CMMB and insurance giants CLICO and British American it would have been business as usual to date.
In countries where people often face persecution because of race, ethnicity, religion and a myriad of social constructs intended to divide and rule, I often wonder how many brilliant minds have never come to blossom. Historians bemoan the knowledge that was lost when unenlightened foreigners invaded ancient lands burning books and reducing to ash what had already been known about the universe and about our progress as a species.
Contrary to the view expressed by Foreign Affairs Minister Gopee-Scoon the time is most propitious and ripe for the Inter-American System to be initiating dialogue with the regime of Raul Castro. President Barack Obama has signaled in clear, unambiguous language that US rapprochement with Cuba is on the cards especially with the closure of the Gitmo Detention Centre. He has also relaxed travel restrictions to Cuba by Cuban-Americans.
The handing over of prime Caroni lands to selected companies certainly raises cause for concern about the government’s agricultural policy and who benefits from it.
It is imperative on the Manning Administration having regard to the current global financial and economic meltdown that is ravaging all Latin American economies to appreciate that it cannot spend over $2bn to provide an April platform for the conduct of hemispheric multilateral diplomacy as if it is business as usual. Since May 2008 when the T&T Concept Paper detailing the agenda of the Fifth POS Summit of the Americas was accepted, the economic, social and trading conditions in the 34- membership of the OAS including in the USA and the Summit Host, T&T, have deteriorated radically. Latin America is not the same today.