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Author Topic: CAUGHT? Finance Minister closed two US$ accounts in CIB last December  (Read 22588 times)

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Offline Bakes

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #120 on: March 21, 2009, 09:18:45 PM »
And why do you resort to insulting me calling me simpleton and being on  de period, haul yuh modder c**t1

Like yuh fuhget or what... I's de wanna-be lawyer who cyah make he point without insulting.  Ahd di'n want to make yuh look like ah liar.

Offline sammy

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #121 on: March 21, 2009, 09:24:48 PM »
Karen have real cheek yes.  She couldn't tell she father tuh hold off until Monday?






j/k... on a serious note, condolences Ms. Nunez-Teixiera
arm is this
jeremiad
or
tongue in cheek
or
satire
or
what :devil:

is ok, I see ya note......as you say.....on a serious note, condolences Ms. Nunez-Teixiera ;)
:rotfl: allyuh liek bachanal eh
condolences to the honorable finance minister
"Giving away something in charity does not cause any decrease in a person's wealth, but increases it instead. The person who adopt humility for the sake of Allah is exalted in ranks by Him".
(Muslim)

Offline Babalawo

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #122 on: March 22, 2009, 01:46:30 PM »
Now hearing the T&T public have to wait till Friday to hear from she.    like the gov't think trinidad rel chupid and will forget about it.:rotfl:  Watch they will try to push it back after the summit.  Are there any lawyers in TnT can fight this matter?

Offline TriniCana

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #123 on: March 22, 2009, 01:55:03 PM »
Now hearing the T&T public have to wait till Friday to hear from she.    like the gov't think trinidad rel chupid and will forget about it.:rotfl:  Watch they will try to push it back after the summit.  Are there any lawyers in TnT can fight this matter?

Gorm let she bury she fadda nah man??? When it's time for her to talk, she'll talk.

I starting to lose track on what she really did oui. So many different versions about what she did or didn't do.
Anybody could summarize what she did maybe in one paragraph please ?

Offline Babalawo

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #124 on: March 22, 2009, 02:05:04 PM »
Now hearing the T&T public have to wait till Friday to hear from she.    like the gov't think trinidad rel chupid and will forget about it.:rotfl:  Watch they will try to push it back after the summit.  Are there any lawyers in TnT can fight this matter?

Gorm let she bury she fadda nah man??? When it's time for her to talk, she'll talk.

I starting to lose track on what she really did oui. So many different versions about what she did or didn't do.
Anybody could summarize what she did maybe in one paragraph please ?

One of the things i admire from the Jews is that they have to bury the dead the day after and move on with their life in honour and inspiration of the people who impacted the precious life they have now.  Because that person would not want you to dwell and lose precious time not working and contributing to society.  In that, i would hope people do the same, and she to stand up and honour her father by showing him she learn and can handle life, by going back to parliament and prooving that she is not guilty. Not dwelling in shame to the soceity/ TnT public.

truetrini

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #125 on: March 22, 2009, 02:13:02 PM »
You know absolutely nutten about Jews then...burying the dead does not mean that they don't mourn the dead.
they  are the epitome of what mourners should be...lol

After a Jewish funeral dem does sit Shiva for 7 days fella

Offline Babalawo

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #126 on: March 27, 2009, 11:26:56 AM »
 :waiting:

Offline Brownsugar

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #127 on: March 27, 2009, 06:14:18 PM »
:waiting:

You waiting for Karen to respond??   I caught on de news that she basically say she eh do nothing wrong...didn't get her entire statement....steups...more slap in we face yes....
"...If yuh clothes tear up
Or yuh shoes burst off,
You could still jump up when music play.
Old lady, young baby, everybody could dingolay...
Dingolay, ay, ay, ay ay,
Dingolay ay, ay, ay..."

RIP Shadow....The legend will live on in music...

Offline Organic

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #128 on: March 27, 2009, 07:47:38 PM »
:waiting:

You waiting for Karen to respond??   I caught on de news that she basically say she eh do nothing wrong...didn't get her entire statement....steups...more slap in we face yes....
that response was a loody joke she basically said that being a shareholder doesnt make her have a conflict of interest. and the only reason she took out her moeny cause it matured.
no one with an iota of commonsense can beleive that complete and utter drivel. is de same UNC esque kinda behaviour again. in we face.hold that. what ever
pure and utter bullshit.
No respect for any of them.
They no better than any dem murders and kidnappers on the street.
Perhaps the epitome of a Trinidadian is the child in the third row class with a dark skin and crinkly plaits who looks at you out of decidedly Chinese eyes and announces herself as Jacqueline Maharaj.- Merle Hodge

Offline Babalawo

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #129 on: March 28, 2009, 01:56:22 PM »
DPP calls for Karen probe
Corey Connelly | 9:22 pm
Published: March 27th, 2009
 
Karen Tesheira reacts in parliament
yesterday. PHOTO: JENNIFER WATSON
Corey Connelly | 9:22 pm
Acting Director of Public Prosecutions Carla Brown-Antoine believes that Finance Minister Karen Tesheira should be investigated by the DPP’s office for her role in the CL Financial issue. And Brown-Antoine is also of the view that the matter should be probed by acting Police Commissioner James Philbert, Siparia MP Kamla Persad-Bissessar claimed yesterday. She made the disclosure in the Parliament while moving a motion of no-confidence in Tesheira...
http://guardian.co.tt/news/general/2009/03/28/dpp-calls-karen-probe

Offline Brownsugar

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #130 on: March 29, 2009, 01:21:25 PM »
I feel Manning should just shred de Vision 20/20 document right now and done de whole blasted thing.....he want a "First World" nation but he and he band of merry men and women friggin clueless as to what that really mean...
Loud friggin SSSSSTTTEEEUUUUPPPPSSSSS!!!!

is.."Fools is wha dey take we for...."  >:(
"...If yuh clothes tear up
Or yuh shoes burst off,
You could still jump up when music play.
Old lady, young baby, everybody could dingolay...
Dingolay, ay, ay, ay ay,
Dingolay ay, ay, ay..."

RIP Shadow....The legend will live on in music...

Offline TriniCana

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #131 on: March 29, 2009, 05:12:53 PM »
DPP calls for Karen probe
Corey Connelly | 9:22 pm
Published: March 27th, 2009
 
Karen Tesheira reacts in parliament
yesterday. PHOTO: JENNIFER WATSON
Corey Connelly | 9:22 pm
Acting Director of Public Prosecutions Carla Brown-Antoine believes that Finance Minister Karen Tesheira should be investigated by the DPP’s office for her role in the CL Financial issue. And Brown-Antoine is also of the view that the matter should be probed by acting Police Commissioner James Philbert, Siparia MP Kamla Persad-Bissessar claimed yesterday. She made the disclosure in the Parliament while moving a motion of no-confidence in Tesheira...
http://guardian.co.tt/news/general/2009/03/28/dpp-calls-karen-probe


Soooo, uhmm anybody in dat so and so place SURE about anything yet ?
Why dey dragging dey foot, IF they know that what she did was wrong. Is how much evidence they need ???

Why Kams wasn't so diligent when Panday and Oma church children's fund was sponsored by CL Financial Durprey ???

Is ah damn pappy show.


Offline zuluwarrior

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #132 on: March 29, 2009, 06:52:56 PM »
Karen digs a pit for herself

Judy Raymond


Sunday, March 29th 2009
 
 
 It's not a principle of common law that a man can't be a judge in his own case. It's a matter of natural justice.

To this, the man in the street might reasonably reply, "So what?' Or, if he too wished to sound lawyerish, he might say it was a distinction without a difference.

But Leader of Government Business Colm Imbert was, as usual, very pleased with himself when he made this point in defending the Minister of Finance against a motion seeking her dismissal. It was typical of the Government's arguments on Friday. They might, at best, have scored points in a court of law, but they were meaningless in the real world.

It was the minister herself who had the shakiest grip on reality. The last time I checked, the Minister of Finance was Karen Nunez-Tesheira. And vice versa. But I may be wrong. From her statement to the House on Friday, it appears only one of them has shares in Clico and closed her accounts with the Clico Investment Bank. But perhaps it was neither. As for leading a bailout of Clico and British-American, neither Ms Nunez-Tesheira nor the minister did that: it was the Cabinet. And in any case, there wasn't a bailout.

With these distortions of fact the minister attempted to justify herself. If she weren't so self-righteous, you'd have to feel sorry for her.

Ms Nunez-Tesheira made the statement on her interests in CL Financial that was postponed from the previous week, thus in effect trying to answer some of the Opposition's accusations even before they were made. She chose to address "two main issues": The allegations of insider trading and a conflict of interest. But this avoided the crucial question of why she didn't voluntarily disclose her interest in Clico.

Instead it was the media that did so. In the minister's eyes, this was an "unwarranted, relentless attack" on her. She acted on behalf of the people, she insisted. She never considered her own personal benefit.

Nor did she consider, it seems, that the people might form their own, different opinions of her behaviour.

The minister said she had no insider information when she withdrew her money from CIB in December. Or, rather: "The incontrovertible evidence is that the relevant information only came to the Minister of Finance on January 14."

The disturbing thing about this was that Ms Nunez-Tesheira wasn't simply adopting the Prime Minister's self-aggrandising habit of referring to himself in the third person. She really appeared to believe she could draw some meaningful distinction between her actions as a Clico shareholder and as a minister. Instead, it sounded as though she imagines she's two separate people. (Or even more-thus her mysterious remark to the House on February 2 that: "As a Trinidadian, I am privy to information on the business of certain institutions." Is this Trinidadian a private citizen, the minister, or someone else?)

Chopping logic still finer, Ms Nunez-Tesheira argued that she didn't even do anything as minister of finance, because in signing an agreement with CL she was acting on behalf of the Cabinet, "and not as an individual." By this reasoning, there could never be a conflict of interest involving any government minister, since he or she can only act to carry out the will of Cabinet. Was that really a serious argument?

Out of touch once again, she made out that the bailout wasn't in her personal interest, because it meant CL had to sell some of its assets to reduce the liabilities of Clico, and would thus cause a drop in the value of her shares. But surely, if the two CL companies had been allowed to go under-an eventuality that she said would have threatened the entire economy-the minister's shares would have been worth nothing at all?

Ignoring this possibility, Ms Nunez-Tesheira claimed the bailout wasn't a bailout, because it wasn't intended to save the fortunes of Lawrence Duprey and his fellow directors of CL Financial, but the pensions and savings of ordinary people. To this semantic quibbling, she triumphantly added a non-sequitur: the non-bailout was approved by, among others, the Supermarkets Association.

In conclusion, she asked a series of questions that she meant to be rhetorical: "Did I further my self-interest when on behalf of the Government I agreed to guarantee the deposits of all third-party depositors of CIB?"

"Yes," chortled the Opposition, as any real politician, or anyone with any common sense, would have expected. Ms Nunez-Tesheira persisted: did she further her self-interest in agreeing to guarantee Clico and British-American insurance policies? In piloting legislation to strengthen the regulatory powers of the Central Bank? In signing an agreement to make CL liable for Clico debts? She ws asking for it and she got it-three more rousing choruses of  "Yes."

It was a suitable ending to her statement that she thus dug a pit and hurled herself into it. The minister's ineptitude-she not only failed to refute the accusations against her, but invited the Opposition to reaffirm them-was yet more evidence that she herself has become not an asset but a liability.
 
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good things happening to good people: a good thing
good things happening to bad people: a bad thing
bad things happening to good people: a bad thing
bad things happening to bad people: a good thing

Offline Brownsugar

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #133 on: March 29, 2009, 07:13:39 PM »
......is fools is wha dey take we for....
"...If yuh clothes tear up
Or yuh shoes burst off,
You could still jump up when music play.
Old lady, young baby, everybody could dingolay...
Dingolay, ay, ay, ay ay,
Dingolay ay, ay, ay..."

RIP Shadow....The legend will live on in music...

Offline Babalawo

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #134 on: March 30, 2009, 06:15:24 AM »
......is fools is wha dey take we for....
long time.

Offline weary1969

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #135 on: March 30, 2009, 07:34:59 AM »
At d end of d day nobody eh seein inside of a jail. So I go use meh outrage for d main page of d site.
Today you're the dog, tomorrow you're the hydrant - so be good to others - it comes back!"

Offline Babalawo

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #136 on: March 30, 2009, 08:09:18 AM »
At d end of d day nobody eh seein inside of a jail. So I go use meh outrage for d main page of d site.
Ent even Abu Bakr could shoot them dem up and get away with it.

Offline weary1969

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #137 on: March 30, 2009, 08:20:32 AM »
At d end of d day nobody eh seein inside of a jail. So I go use meh outrage for d main page of d site.
Ent even Abu Bakr could shoot them dem up and get away with it.

And congregation say amen or on dis day ring a bell. Panday convicted and fightin 2 use he laptop in Parliament but we beatin up Tesheira 4 doin what anybody would have done. Not 2 mention by she closin dem a/c eh mean anybody who have money eh go get dem own. Morally wrong propably but is politics so I eh really understand how morals in d mix.
Today you're the dog, tomorrow you're the hydrant - so be good to others - it comes back!"

Offline zuluwarrior

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #138 on: March 31, 2009, 04:54:39 PM »
Kamla’s case
Tuesday, March 31 2009

SIPARIA MP Kamla Persad-Bissessar might have misstepped once or twice in her presentation to the House of Representatives last Friday but by and large she firmly established a prima facie case against Finance Minister Karen Nunez-Tesheira. Persad-Bissessar made out a case for a further investigation into the facts surrounding Mrs Nunez-Tesheira’s negotiation of a bailout for CL Financial (CLF) while she held a number of shares in that company, and the Minister’s withdrawal of her deposits in CLF’s Clico Investment Bank (CIB) just before CLF’s demise.

Persad-Bissessar dropped a bombshell in the House in announcing that Acting Director of Public Prosecutions (DPP) Carla Brown-Antoine has already decided that a prima facie case has been made out against Nunez-Tesheira under the Prevention of Corruption Act section 5 regarding the possible illegal use of insider information to withdraw her deposits.

Persad-Bissessar must now present to the Acting DPP any evidence she has to back her claim that “finance officials” were negotiating the MOU with CLF’s lawyers weeks ahead of the January 14 date that Nunez-Tesheira said was when she was officially told of CLF’s woes by Central Bank Governor Ewart Williams and before the December 30, 2008 date when she broke her deposits. By “finance officials” did she mean staff of the Ministry of Finance under the direction of Nunez-Tesheira, or Central Bank staff who would be more removed from the Minister? She must say.

Nunez-Tesheira denied the abuse of “official” information to withdraw her deposits, while on the other hand saying she’s a Trinidadian who hears things like anyone else. The Prevention of Corruption Act speaks only of “official information”, so she may not be legally liable if for example she acted on some old talk she had heard informally at a cocktail party. But even casual information would put Nunez-Tesheira under a moral “duty” to the citizenry.

Interestingly, while the Prevention of Corruption Act largely involves a perception of whether or not someone acted using official information, it imposes severe penalties of up to $500,000 and 10 years imprisonment, plus a permanent debarment from public office. Persad-Bissessar also argued that Nunez-Tesheira had breached the House’s Code of Ethics by not declaring her deposits until forced to by the Siparia MP. Persad-Bissessar accused the Minister of having a track-record of misleading the House. What we would say is that there’s an impression of the Minister supplying information on a defensive basis, that is only in reply when specific allegations are made. There just doesn’t seem to be a complete and voluntary declaration of her position from the word go.

Persad-Bissessar said the mere fact that Nunez-Tesheira did not declare the CLF shares she held while bailing out the company made her guilty of a conflict of interest. Nunez-Tesheira denied culpability by saying the bailout actually reduced the value of her share-holding by making CLF liable to sell its assets to pay the liabilities of Clico and British American. This is entirely irrelevant where a minister of finance is concerned.

Persad-Bissessar scoffed at the relevance of this coming from the author of law books including the topic of legal ethics. Nunez-Tesheira must have known she was guilty of a conflict of interest. Persad-Bissessar said no benefit need occur for such an offence to happen, but simply the situation must present an opportunity. We say that while it may seem harsh to punish someone simply for finding themselves in such circumstances while not actually committing any act of wrongdoing to personally benefit, the law is clear. As Persad-Bissessar said, the Integrity in Public Life Act’s Code of Conduct says if you have an interest, you declare it, and then recuse yourself from any decision-making in the matter.

Further, Persad-Bissessar said it was also likely the minister breached the House’s Code of Ethics by not initially declaring her shareholding to the House. So, rather than take a high moral tone last Friday, Nunez-Tesheira might have been better advised to further spell out the huge threat facing the country’s financial sector which took her attention, admit she breached the letter of the law even if unintentionally, and then apologise to the House and ask forgiveness for this oversight. We await her speech in reply to Persad- Bissessar’s motion upon which debate will continue in a month’s time.

Minister of Works Colm Imbert, in his spirited defence of Nunez- Tesheira last Friday, seemed to have missed an important point. Of course it is perfectly legal for a family member with Power Of Attorney to withdraw money from a jointly-held account of her parents. That is not the issue. The issue is minister Nunez-Tesheira’s failure to declare that account and her own account when she was involved in the bailout of CL Financial and its subsidiary, ie CIB, in which she held accounts. There is no way out we can see for the Minister of Finance but to resign.

While Persad-Bissessar would likely want to see Nunez-Tesheira probed by the Integrity Commission, sadly it is not likely to get new Commissioners for quite some time.

 
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good things happening to good people: a good thing
good things happening to bad people: a bad thing
bad things happening to good people: a bad thing
bad things happening to bad people: a good thing

Offline Babalawo

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Re: CAUGHT? Finance Minister closed two US$ accounts in CIB last December
« Reply #139 on: April 03, 2009, 09:53:08 PM »
PNM tactic worked. The public forget bout it.   i want to hire their PR person ;D

 

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