Daily Archive for February 10th, 2009

Central Bank Governor Williams Must Resign

By Stephen Kangal
February 10, 2009

Central Bank Governor Ewart WilliamsIt 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.

But within the passage of a short time these major financial institutions would have eventually collapsed with catastrophic consequences for the savings of policy holders and depositors as well as for the rest of the economy of Trinidad and Tobago and the Caribbean. The Central Bank has been failing us the people of T&T for a long while. That is why Mr. Duprey the avant garde, visionary indigenous industrialist has retained our admiration. But the Government wants to hoff his crown jewels.
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