OFFICIAL CLICO THREAD

Postby **tr1ad** » January 30th, 2009, 1:14 pm

ray786 jess listenin to see if he really post a rumour
:mrgreen:

janfar · Postby **janfar** » January 30th, 2009, 1:16 pm

evo-STI-k wrote:After this

Trinidad $8.00 - US $ 1.00

Devaulation of the TT dollar!

Postby **Greypatch** » January 30th, 2009, 1:17 pm

calls hati to learn how to make mud cakes

Postby **tr1ad** » January 30th, 2009, 1:17 pm

hassah an clap roti boi patch

Conrad · Postby **Conrad** » January 30th, 2009, 1:18 pm

Details for those without speakers on work.

Wolfie · Postby **Wolfie** » January 30th, 2009, 1:19 pm

Here we go with the handouts

Postby **eliteauto** » January 30th, 2009, 1:20 pm

The Central Bank Governor doh bite nice at all, but at least he's smart :idea:

Central Bank is taking control CIB under section 40:40 of the Central Bank Act
all liabilities of CIB and CMMB are being transferred to First Citizens Bank, to be offset by the sale of high level assets of the CIB, CIB will then have it's banking license revoked
the CB will provide Govt funding in exchange for collateral and shares of Clico

The intent is to have Clico return to it's core business and a leaner business model

ray d saint · Postby **ray d saint** » January 30th, 2009, 1:21 pm

So far FCB now has it's own brokerage house, that in the name of CMMB!!!!!

Postby **Greypatch** » January 30th, 2009, 1:21 pm

and what if cib still falls flat...

the govt & fcb is left with the shitty end of the stick

Wolfie · Postby **Wolfie** » January 30th, 2009, 1:22 pm

They will run it at a loss

Postby **tr1ad** » January 30th, 2009, 1:25 pm

oh gorm

fcb buy cmmb

nooooooooo

drunkenscorpion · Postby **drunkenscorpion** » January 30th, 2009, 1:25 pm

CB will provide Govt funding in exchange for collateral and shares of Clico

The intent is to have Clico return to it's core business and a leaner business model

This exhange will only take place once investors decide to withdraw from CLICO, and the exchange will be the equivalent amount.

SmokeyGTi · Postby **SmokeyGTi** » January 30th, 2009, 1:28 pm

SR wrote:more clearance sale on real estate in south florida

but that land sinking too! :lol:

ray d saint · Postby **ray d saint** » January 30th, 2009, 1:28 pm

SmokeyGTi wrote:
SR wrote:more clearance sale on real estate in south florida

but that land sinking too!

Conrad · Postby **Conrad** » January 30th, 2009, 1:29 pm

When there's blood in the streets, buy LAND!!!

Have fun jumping up in Jouvert fackers. :lol:

Postby **tr1ad** » January 30th, 2009, 1:32 pm

WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE WINE

Postby **eliteauto** » January 30th, 2009, 1:33 pm

^^ well considering the decreasing Loan portfolio of the FCB in the last quarter, I'm sure they are happy to pick up the liability portfolio, providing there are not mass loan defaults it will work well in their favor.

My concern is the lack of real elasticity in the housing market especially as I know that housing values have significantly dropped, and rental incomes have also dropped, looking forward to cheaper HCL houses

Postby **Notorious Scullman** » January 30th, 2009, 1:35 pm

nothing of HSBC?

RASC · Postby **RASC** » January 30th, 2009, 1:36 pm

Ok this was kinda confusing, but I get it.

The Gov't (FCB) will take control of CIB, the deposits will be secure.

JOBS however I am not sure. Many ppl will be made redundant.

CL Financial is okay.

Postby **tr1ad** » January 30th, 2009, 1:36 pm

mean hoping cl101

djcase00 · Postby **djcase00** » January 30th, 2009, 1:38 pm

hmmmm, wonder if CMMB will reduce their rates of return once under FCB

RASC · Postby **RASC** » January 30th, 2009, 1:38 pm

Ok so what's so bad about FCB...from the outside looking in...they actually are the more progressive of all the local banks...internet banking etc

slick · Postby **slick** » January 30th, 2009, 1:38 pm

what jus happen here?
i lorse

Postby SR » January 30th, 2009, 1:38 pm

apparanlty not but i know HSBC has been inquiring a while now regarding the republic bank shares

but then again republic bank is not the one in financial difficulities
276 million profit in reported for the last quarter