Trin | Surviving life in Trinidad and Tobago: Karen Nunez-Tesheira's $11 Million stake

I always wondered who these PNM supporters were that could afford to pay for the $100,000 dollar-a-plate Great -and-obscenely-rich-is-the-PNM-Monarchy fundraising dinners, cause as far as I know, Cepep and URP handouts ain't no $100,000. Well boy!

Opposition MP Kamla Persad-Bissessar alleged that the minister and Governor of the Central Bank Ewart Williams had used their privileged position to withdraw deposits from CIB. Nunez-Tesheira admitted that she had a sister who worked in the banking industry for several years,
“and I, like the rest of T&T, had heard that CIB had difficulties.” She said the information she acted on was the information the rest of the country acted on. Karen: No inside info on CIB withdrawal
Trinidad Guardian, Feb 3rd, 2009

Imbert, Enill defend Karen: Focus on bigger issue
Richard Lord | 10:20 pm
Published: March 12th, 2009
Trinidad Guardian

Energy minister Conrad Enill, left, and Colm Imbert
Richard Lord | 10:20 pm
Energy Minister Conrad Enill said yesterday that citizens should focus on the bigger issue of saving the country’s financial sector rather than focusing on Finance Minister Karen Tesheira. His Cabinet colleague, Works and Transport Minister Colm Imbert, said it was a complex matter. Both ministers were speaking on Tesheira’s possible breach of public integrity and conflict of interest in the CL Financial bailout, yesterday. They defended the embattled minister during yesterday’s post-Cabinet news conference at the Diplomatic Centre in St Ann’s.

There have been several calls for Tesheira’s resignation over her ownership of CL Financial shares to the tune of more than $11 million. Imbert and Enill were responding to questions on the controversy. Imbert said that while it was “a complex matter,” he did not think there should be any further comment until the issue had been resolved. He said he still had full confidence in Teshiera as Finance Minister. Enill, who served previously as Minister in the Ministry of Finance, said citizens should look at the bigger picture. He said when the Government proceeded to bail out out Clico, it did so to save the financial sector in T&T from collapse.

Enill said the Government proceeded to bail out the insurance company in the interest of the wider national community. “It seems to me that what we need to do is to focus on what we are attempting to do to ensure that pensions and the retirement benefits of the workers in T&T are protected,” he said. “The other matters, as topical as they may be, really pale into insignificance as they relate to the public good.” Enill said the Government’s action was intended to “ensure the stability of our economic system.”

Meanwhile, Opposition MP Kamla Persad-Bissessar is expected to file certain documents with the police and Integrity Commission today to advance a possible probe on the minister. Tesheira was in the US attending meeting with financial institutions and credit rating agencies yesterday. She previously confirmed having the Clico shares. She said she did not share the view that the matter was a conflict of interest or that she should heed calls to resign. Prime Minister Patrick Manning also said he saw nothing wrong about the matter. (This last sentence is such a joke - Manning, who have a wife that WAS NOT ELECTED drawing a salary and working in Gummint, he just put she dey, ain't see nothing wrong with Karen situation. Really, he don't see nothing wrong? Wow.)

Trinidad Guardian Reader Comment:
OH NO! These Ministers
Submitted by TheHawk on 13 March 2009 - 12:05pm.
OH NO!
These Ministers (Imbert & Enill) are completely missing the point. The Govt. of T&T's aspiration is to be a First World country (let’s not get tied up in a debate about when).
If the current scenario were to occur in Canada, USA, UK or New Zealand what do they think the outcome would have been? The answer is simple - The Hon. Minister of Finance would have had to resign or failing that, would have been fired pronto. This is what happens in developed countries when information is hidden, released in a piecemeal manner or disseminated in such a way by high ranking officials so as to try and conceal embarrassment.