From a note issued by analysts at JP Morgan, emphasis mine: The Central Bank late on Friday announced that it would bail out a number of financial services companies—Clico Investment Bank (CIB), Clico Insurance Company (CLICO), British American Insurance Company (BAICO) and Caribbean Money Market Brokers (CMMB)—within the CL Financial Group, which have recently been [...]
Presented verbatim, here is the full text of the statement made by Central Bank Governor Ewart Williams at the press conference on Friday: Some of you may know that CIB has been facing liquidity challenges over the past few weeks. These challenges came to a head in the last few days when the bank began [...]
And no, I’m not talking about Armageddon as induced by the Large Hadron Collider or Sarah Palin becoming president of the United States of America. I’m talking about the incredible series of events unfolding as I write this, events that have shaken Wall Street, the City of London and the global financial system to its [...]
