- NEWSDAY.CO.TT - A la Une - 31/Jul 03:27

Publish CLF report without delay

THE EDITOR: Some nine years after its completion, we now need to have the Colman Report into the collapse of the CL Financial Group published. The bailout of the CL Financial Group (CLF) started in January 2009 and consumed over $25 billion in public money, in circumstances which remain mostly unclear, even after a full-scale commission of enquiry (CoE) into the collapse of both CLF and the Hindu Credit Union (HCU), conducted by the late Sir Anthony Colman QC. That CoE was ordered by the PP government, led by Kamla Persad-Bissessar, which marked a welcome spell of lucidity in that troubled period of growing financial turmoil. The 2010 budget speech by then finance minister Winston Dookeran gave the required clarity and purpose to the proper understanding of the CL Financial collapse and the consequent bailout, which he was proposing to reorder. Then PM Persad-Bissessar's speech on October 1, 2010, made irrefutable points on the mishandling of the bailout and proposed the CoE. This season with the two-month transition from Emancipation Day on August 1 to Independence on August 31, then onto Republic Day on September 24, is one of sober reflection and rededication for me. It seems to me that the very sequence of events and the consequent holidays in the season imbue it with an inner meaning about national transition to some kind of depth and purpose, but maybe that is just sentimental of me, we will see. This season of reflection beckons yet another Sankofa moment in which I will contemplate our past efforts so as to better understand our future. Colman's report was completed in two parts: The HCU part was published by the PP government, to its immense credit, immediately upon its completion, in July 2014. The CL Financial part was completed at the end of June 2016, but the PNM government did not publish that report, citing the DPP's reported concerns that doing so would imperil any future prosecutions. Nine years have now passed, with no reported arrests, charges, prosecutions or asset seizures. I have repeatedly requested an update from the DPP, but that is that. The newly-elected UNC government, under Persad-Bissessar SC, has promised to publish the Colman Report into the collapse of CL Financial and I have no reason whatsoever to doubt that commitment, given their estimable performance on this issue. I am calling for that report to be published now. AFRA RAYMOND afraraymond.net The post Publish CLF report without delay appeared first on Trinidad and Tobago Newsday.