Now that the Trinidad & Tobago's new blue eyed boy, Marlon Holder has taken up the CEO and Managing Director positions of the beleaguered CL Financial Group, the next question is when will he resign.

The fact is Holder is incapable of steering the Group into passive waters. He has neither the ability or the experience.
The only person worth considering for the post is the Minister of Trade, Mariano Browne.
Browne has the charisma, clout, confidence and competence to do the job successfully and in the shortest period of time.

Clico is burning. The company has a fifteen billion dollar debt concern with a long-list of fully leveraged assets. Decisions must be taken and large amounts of cash must be injected.

The first decision to be taken is to renege on the political promise to pay interest and principal to it's Clico Investment Bank clientele. Those customers should have been promised their prinicpal and nothing more.
Indeed, they are lucky to receive that at all.

Secondly, no bonuses should be honoured and all bonuses paid in excess of one million over the last five years should be investigated.
And investigations should begin with Geeta Sakal.

Thirdly, all unethical payments made as a result of employee deals between CL and those employees private concerns should be investigated. We know of too many instances where CL's employees seem to have been a stable of private interests leeching off of the most dotish billionaire on the planet.

In short, the country's tax payers need their pounds of flesh for the billions they are being asked to contribute to local investors (who knew the interest paid to them was too good to be true) and regional/international investors whose agreements we have to honour.

This country demands investigations beginning with Duprey and Monteil.
Enough is enough.

Labels: CL Financial, Duprey, Monteil