Arnhim Eustace could be right

Fri, Feb 24. 2012

Editor: Luke V. Browne, rather than the Opposition Political Party leader—Hon. Arnhim Eustace, was bamboozled.

“Arnhim Eustace is wrong about the NIS” – (Searchlight Opinion Page 2/10/2012).{{more}}

Somewhere between facts surrounding the loss of $54 million of the Vincentian People’s Pension Money is the truth.

Hon. Arnhim Eustace claimed it was $62 Million and Luke Browne claimed that it was $53.9 Million.

In his article, Luke Browne blasted the Opposition Party Leader, Former Prime Minister and Minister of Finance and respected Economist—Hon. Arnhim Eustace for giving the Vincentian “people the wrong impression” that the National Insurance Scheme (NIS) lost tens of millions of pension money. The Money was invested in the belly-up multinational Insurance companies – British American and Colonial Life.

Mr. Browne—confusingly confirmed the alarm bell sounded by the Opposition Leader – later in his diatribe. “The value of the NIS investments in Clico—Baico is really just $53.9 Million, a lot of which, we now know, will be recovered.”

Listen Mr. Bowne, $54 million of the Vincentian People’ Pension Money is not something to sneeze at. Now is not the time to play political gymnastics and attack dog. The Minister with the portfolio for the NIS owes the Vincentian People an explanation! Who, Mr. Brown, is directing the recovery? How soon will the NIS recover the tens of millions of Pension Money from the bankrupt Insurance Companies?

Randy Aberdeen
Brooklyn N.Y.