Eurobank to face criminal charges -- An Open Forum Towards a Better Cayman Islands

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Date Posted: 22:14:35 01/14/02 Mon
Author: Yupp(?)Cay
Subject: Eurobank to face criminal charges

Cayman NetNews - Friday, January 11, 2002

Why is it that Eurobank is to face charges but First Cayman Bank (which had resulted in a MUCH higher capital LOSS) has faced NO CHARGES to its directors, to include the present "minister of everything and everyone"? This sounds like blatant political interference at best. What criteria are used to come to such a decision in either case? Where is the website to keep First Cayman Bank creditors and depositors informed?

It never ceases to amaze me the depth of deceit that goes on right under our very noses and we all accept if not condone it. I feel it is high time that we hold our leaders to a much higher standard of conduct. The composition of the government would be radically different if that was so.

One way to accomplish this would be to require ALL MLA's to file an annual independently AUDITED financial statement, clearly outlining their personal stakes in any business ventures, REGARDLESS of whose name the licence is in! Then and ONLY then would we have truly open and accountable government. Conflicts of interest would be easy to spot and deal with appropriately. I am convinced that this should be enshrined in the revised constitution. I have stated this opinion to the Constitutional Review Commissioners, but I have little hope to expect it will be included. This will be a true error of omission if it does not make it into the final document.

Without such a Constitutional provision, we will continue to have the best legislators money can buy. This level of public accountability is almost a standard requirement for those in public office in "G-7 or 8" countries. Our legislators earn more, so they should by no means be left out.

Thank you for this wonderful forum to express my opinions in an open and honest way. I shall be awaiting a vote on my alias here from the users.

YC

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Replies:

Re: Eurobank to face criminal charges -- Yupp(?)Cay, 22:35:36 01/14/02 Mon
Best Money Can Buy (A Modest Proposal) -- MF, 06:57:32 01/16/02 Wed