OFFICIAL CLICO THREAD

[bushwakka]

âh man pay for dat ad?

[djaggs]

De man try to talk in de meeting in Chaguanas buh dey didnt want to give him time to talk so he put it in the papers. Look at what man writing to the papers.....

U ALL KNEW BUT U STILL SELL EFPA said today at 6:20 PM
THE CLICO AGENTS FULLY WELL KNEW THE CO WAS COLLAPSING BUT U STILL SOLD EFPA TO OLD PEOPLE ( EASY VICTIMS) ,BUT GREED= CRYSTALL JOHN U ASSURED ME MY LIFE SAVING WAS SECURE==U LIE.GAL WHAT AH HAVE PLAN FOR U BETTER U KILL U SELF NOW. I AM A MICROBIOLOGIST I HAVE ALREADY CULTURED AND EXTRACTED CLOSTRIDIUM TOXIN= A NEW FORM OF RETRIBUTION FOR ALL U CLICO AGENTS. A NEW SCIENTIFIC ERA IS HERE

BODY PARTS ALL OVER THE PLACE said today at 5:46 PM
SOON U GO FING HUMAN BODY PARTS ALL OVER THE WORLD===CLICO AGENTS WHO CON POOR OLD PEOPLE. THE DAY OF REKONING IS HERE.THE GLOBE IS A SMALL PLACE U CAN RUN BUT U CANT HIDE MR GIBBS THATS Y THEY BRING U IN NOW--SORRY FOR U


ALL THE CON CLICO AGENTS said today at 11:21 AM
GUESS U CANT SLEEP AT NIGHT NOW,ALL THE OLD PEOPLE U ROB KAMA IS CATCHING UP NOW.NEVER KNOW WHEN THEY COMING FOR U.IN THE MAFIA WORLD THEY KILL FAMILY MEMBERS FIRST TO SO U CAN SUFFER MENTALLY ROT IN HELL ALL OF U

[Redman]

bushwakka-tell me whats wrong in the add.

We have a private co whose assets have been taken by the govt-with no valuation disclosure to the public that is now going to take the hit.

So where is Sookhan wrong-my understanding is that the man used to be in the biz -but I will confirm if that is true
but for the time being tell me where the ad is wrong

Later

[neilsingh100]

The part about Republic Bank is wrong. The 45 billion is depositors money plus equity.

The worth of the 55% stake in RBL is about 6 billion plus some of these share are pledged for other loans.

I do not doubt Clico & CL is insolvent just open up their books so we know if we are getting a fair deal.

[pugboy]

the ad list some assets but some of those very assets are likely to have been used to finance the same other assets, eg building methanol plants, construction of 1woodbrook etc
so just listing assets is pointless

he needs to do accounts 101 - assets = liability + owners equity

they should really do a liquidation so people could know what they worth
like what they did with bwia

[redmanjp]

should we just IMMEDIATELY cash out policies and done or is it too late to do that

[bushwakka]

bushwakka-tell me whats wrong in the add.

We have a private co whose assets have been taken by the govt-with no valuation disclosure to the public that is now going to take the hit.

So where is Sookhan wrong-my understanding is that the man used to be in the biz -but I will confirm if that is true
but for the time being tell me where the ad is wrong

Later

i eh opposing de ad.....i jus surprised that a man wud pay so much money to do the ad is all

ah mean, that goes to show how severely the situation has impacted some ppl

the man clearly decided that he needed to fight the propaganda war as well

this govt is indirectly encouraging citizens to gang up on policyholders and call them names, call them greedy and tell them they lucky for getting anything at all
when the govt cud say otherwise that is not the policyholders fault.....

hell i was watching a lady from Franklin Templeton Investments from the states yesterday and she was saying that she have no confidence in Trinidad financial system anymore....and thas a lady wit years of investing experience......is not becuz ppl schupid that they end up in this position, it is the govt that is taking advantage of ppl

[AbstractPoetic]

Proof that this is certainly not a government of, by and for the people.

I'm ready to vote them out, as is many of their (former) supporters.

[AbstractPoetic]

"Investors should just accept the fact they made the wrong call and be thankful that they're at least getting their principal back. It could have been worse, much worse"

I concur!

Well tell that to the 80 yr old man who put his life savings into it and now have nothing left. Tell him relax nah man, yuh getting it back in 20yrs.

at age 80, he should not be worrying about money but should be spending time with family. tell him take the money and leave it for the grandchildren university fees or sum

You are certainly fass and outtaplace!!!

People INVEST to enjoy their retirement and in some cases have something to hand down to the generation to follow.

Also, there are many retirees who have saved and invested for the purpose of enjoying those savings in their old age. Now to hear that they have to wait 20 years...20 years to get back what they put in? RIDICULOUS!!!! Many do not have 20 years!

Both you and your PEE PEE government can throw your frame so. Investors can choose to spend the remainder of their years HOWEVER and WHICHEVER way they choose.

Yuh fass and boldface, just like so many PEE PEE members of government.

[evo-STI-k]

[AbstractPoetic]

There are still gullable idiots here who actually think that the previous thieving, dishonest, untrustworthy pnm would have honored a promise??

since when does the pnm EVER honor any promises?

They certainly did when it came to returning a portion of what I invested in CLICO. Now the PP wish to overturn that promise?

[Aaron 2NR]

"Investors should just accept the fact they made the wrong call and be thankful that they're at least getting their principal back. It could have been worse, much worse"

I concur!

Well tell that to the 80 yr old man who put his life savings into it and now have nothing left. Tell him relax nah man, yuh getting it back in 20yrs.

at age 80, he should not be worrying about money but should be spending time with family. tell him take the money and leave it for the grandchildren university fees or sum

You are certainly fass and outtaplace!!!

People INVEST to enjoy their retirement and in some cases have something to hand down to the generation to follow.

Also, there are many retirees who have saved and invested for the purpose of enjoying those savings in their old age. Now to hear that they have to wait 20 years...20 years to get back what they put in? RIDICULOUS!!!! Many do not have 20 years!

Both you and your PEE PEE government can throw your frame so. Investors can choose to spend the remainder of their years HOWEVER and WHICHEVER way they choose.

Yuh fass and boldface, just like so many PEE PEE members of government.

ok thank you very much......


what's very funny is, lets say the government "gave" back all the investors their monies and had to introduce new taxes to raise said monies. you guys would be the same people bashing the government about new taxes........

Yes I am out of place because I don't agree with taking public funds and tax payers money to bail out CLICO......then every investment firm that goes bankrupt should go to the government for a bail out. CLICO should have been liquidated and the board/ directors at the time should have been held accountable for all their actions. Funny thing is, you not heading much from the people who invested in HCU. The people grateful for even getting back something...

[5onDfloor]

There are still gullable idiots here who actually think that the previous thieving, dishonest, untrustworthy pnm would have honored a promise??

since when does the pnm EVER honor any promises?

all yuh really chupid oui!

^^ and what does that got to do with the discussion at hand? get off the PNM back and study that yuh PPP government deal is illegal and they running to pass legislation to make it legal.

CL financial is not insolvent, what KAMLA and DOOKS aint telling yuh is that the government now had aquired a healthy CL financial portfolio, a portfolio that will reap $$Billions of Benefits in years ahead.

What about the Methanol and Ethanol plants? how many trains online? Do you know how much revenue the government got from taxing CL on the profits? Now u become owner so u have the whole PIE for yuhself.

take a look at the MALLS ...Valsayn Westmall Trincity........u see these malls going out off bussiness? now u become owner so u have the whole pie for yuh self.

There is One woodbrook Place, Millenium park and Golf Course.

and the list goes on and on and on..........the fundamental problem with CL was that their model of business was high risk. they never borrowed from outside creditors it was all done intercompany thats why they cud of offer the interest rates that it did.

It was all a plan to bring down Duprey and when the world economy fell it was the perfect timing and they hit him for 6..........it was a collective effort from both local and international interests. i will stop at that!

[AbstractPoetic]

ok thank you very much......


what's very funny is, lets say the government "gave" back all the investors their monies and had to introduce new taxes to raise said monies. you guys would be the same people bashing the government about new taxes........

Yes I am out of place because I don't agree with taking public funds and tax payers money to bail out CLICO......then every investment firm that goes bankrupt should go to the government for a bail out. CLICO should be been liquidated and the board/ directors at the time should have been held accountable for all their actions. Funny thing is, you not heading much from the people who invested in HCU. The people grateful for even getting back something...

Then raise taxes if need be. Are policyholders and depositors not taxpayers as well?

The Central Bank has yet to speak on the matter as it was the same Central Bank that explicitly guaranteed the funds of policyholders back in 2009.

Now Dookeran is saying different. So why the contradiction between the financial institution and Dooks? Or is it, once there is a change in government the same promises and guarantees are also thrown out the door?

CLICO is to Trinidad as AIG is to the USA. The TT government could not have allowed it to fail because of how large a conglomerate it was. And given the responses from not only individual policyholders but credit and labor unions, many facets of society had/has their money tied up in CLICO.

That said, the money will have to be returned somehow but certainly not within 20 years, especially for those retirees.

And its completely absurd for you to compare HCU to CLICO. Those that invested in HCU were shareholders. Those that invested in CLICO were not. Shareholders of HCU had the responsibility to monitor the actions of their union, but they did not. And yet, the taxpayers, yourself included, had to bail them out.

And why should we hear from HCU depositors? They were themselves regulators of their HCU but chose not to regulate. Of course they will be grateful. Taxpayers are paying for their [HCU shareholders'] stupidity.

[AbstractPoetic]

There is One woodbrook Place, Millenium park and Golf Course.

Last I recall they are still having difficulty selling a number of units at One Woodbrook Place. Price just isn't worth it.

[trinitachi]

There are still gullable idiots here who actually think that the previous thieving, dishonest, untrustworthy pnm would have honored a promise??

since when does the pnm EVER honor any promises?

all yuh really chupid oui!

Amazing isnt it?!

[Aaron 2NR]

There are still gullable idiots here who actually think that the previous thieving, dishonest, untrustworthy pnm would have honored a promise??

since when does the pnm EVER honor any promises?

all yuh really chupid oui!

^^ and what does that got to do with the discussion at hand? get off the PNM back and study that yuh PPP government deal is illegal and they running to pass legislation to make it legal.

CL financial is not insolvent, what KAMLA and DOOKS aint telling yuh is that the government now had aquired a healthy CL financial portfolio, a portfolio that will reap $$Billions of Benefits in years ahead.

What about the Methanol and Ethanol plants? how many trains online? Do you know how much revenue the government got from taxing CL on the profits? Now u become owner so u have the whole PIE for yuhself.

take a look at the MALLS ...Valsayn Westmall Trincity........u see these malls going out off bussiness? now u become owner so u have the whole pie for yuh self.

There is One woodbrook Place, Millenium park and Golf Course.

and the list goes on and on and on..........the fundamental problem with CL was that their model of business was high risk. they never borrowed from outside creditors it was all done intercompany thats why they cud of offer the interest rates that it did.

It was all a plan to bring down Duprey and when the world economy fell it was the perfect timing and they hit him for 6..........it was a collective effort from both local and international interests. i will stop at that!

there is one ethanol plant in trinidad and it is not owned by CLICO....remember the acquisition of CIB does NOT include CLICO Energy, IPSL, etc....




Raise taxes?? really...we already have a struggling middle class...this is the first time in recent times that the middle class wasn't screwed by the Government with new taxes.....


Look at the larger picture and the entire country before you look selfishly at your own pocket. With any investment you face the risk of loosing everything......

[nismoid]

There are still gullable idiots here who actually think that the previous thieving, dishonest, untrustworthy pnm would have honored a promise??

since when does the pnm EVER honor any promises?

all yuh really chupid oui!

^^ and what does that got to do with the discussion at hand? get off the PNM back and study that yuh PPP government deal is illegal and they running to pass legislation to make it legal.

CL financial is not insolvent, what KAMLA and DOOKS aint telling yuh is that the government now had aquired a healthy CL financial portfolio, a portfolio that will reap $$Billions of Benefits in years ahead.

What about the Methanol and Ethanol plants? how many trains online? Do you know how much revenue the government got from taxing CL on the profits? Now u become owner so u have the whole PIE for yuhself.

take a look at the MALLS ...Valsayn Westmall Trincity........u see these malls going out off bussiness? now u become owner so u have the whole pie for yuh self.

There is One woodbrook Place, Millenium park and Golf Course.

and the list goes on and on and on..........the fundamental problem with CL was that their model of business was high risk. they never borrowed from outside creditors it was all done intercompany thats why they cud of offer the interest rates that it did.

It was all a plan to bring down Duprey and when the world economy fell it was the perfect timing and they hit him for 6..........it was a collective effort from both local and international interests. i will stop at that!

while you are correct in most of what you just said,,, westmall is NOT owned by CLF, i believe the mall you want to refer to is long circular mall. and yes you are also correct in saying that there was a plan to bring down duprey so i myself wont say anything here before i get lok up

[SR]

sigh
read todays article in the guardian by ronald harford

[pugboy]

whoever saying hcu and cl different talking crap,
the big picture is people were caught hook line and sinker even caster to invest money and they buss, doesn't matter if one case is shareholders vs policyholders or whatever

read the whole guardian business section,
all who were making noise about the epfa can learn something there about bonafide annuities

afra raymond's excellent articles are the lone voice ponging the regulators and freeness bailout

[hydroep]

...As for the executive flexible premium annuity (EFPA) policyholders, Harford said, they went in looking for higher interest rates. “The Government says this is how they going to deal with it. Well, it is better to deal with it than not deal with it at all.” Three years ago, Republic Bank stopped accepting EFPA policies as collateral for loans.

Harford said the bank recognised it was a Clico liability and was not about taking on liabilities. “People wanted to borrow from us at ten per cent and put it into the EFPA and get 15 to 20 per cent. They thought they were being brilliant. We said no.”

NAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAh!

It had absolutely nothing to do with GREED. Nothing at all...

Article: Clico, a disaster of huge proportions.

[DRAGULA]

At this stage given all that has happened with Clico, should one continue paying towards long term annuities (registered pension plans) with Clico or should one just stop paying and let them lapse?......Essentially cutting one's losses

[bushwakka]

There are still gullable idiots here who actually think that the previous thieving, dishonest, untrustworthy pnm would have honored a promise??

since when does the pnm EVER honor any promises?

all yuh really chupid oui!

and under PNM rule, depositors was gettin they interest payments normel normel?

[teems1]

PNM come out smartest in this.

The Clico fiasco happened under the PNM regime, and now the PP has to try to fix it and be labeled the bad guys by their supporters.

[SmokeyGTi]

^^ not to mention it was started by the NGC asking for all their $$ back eh, i sure, on instruction from the govt of the day.

apparently policyholders forget that there is always a risk associated with investment. apparently they feel govt have a duty to pay them back.

govt should just hand everything back to the original owners/mgmt and tell everybody to HYMC yes.

you go see how fast they want they $75,000.00 and pymt over the next 20 yrs.

[SmokeyGTi]

^^ not to mention it was started by the NGC asking for all their $$ back eh, i sure, on instruction from the govt of the day.

apparently policyholders forget that there is always a risk associated with investment. apparently they feel govt have a duty to pay them back.

govt should just hand everything back to the original owners/mgmt and tell everybody to HYMC yes.

you go see how fast they want they $75,000.00 and pymt over the next 20 yrs.

[evo-STI-k]

PNM come out smartest in this.

The Clico fiasco happened under the PNM regime, and now the PP has to try to fix it and be labeled the bad guys by their supporters.

THAT statement pretty much sums up EVery damn thing wrong with this society TODAY!

[hydroep]

The Prime Minister is making a statement on CLICO situation in Parliament right now.

[pugboy]

CNC news,

for those who say CLICO not insolvent and been arguing their case
liquidation difference = $8billion in the red

take my taxpaid money in your 75k and hush
you should buy us all lunch once a week for the next 20 years

[Redman]

Once she as certain as she was about the still born bill, that they pull today.
It still have all the politicking and posturing this way far from over


Later