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LETTER OF THE DAY - Lessons to belearnt from the Trafigura scandal
published: Friday | April 11, 2008

THE EDITOR,Sir:

The Trafigura matter has fizzled out to exactly what it was initially - a contribution to a political party. All contributions to political parties are quid pro quo. It is a given that every donor expects something in return. In fact, political parties over the years depended on the business community to survive. So, where is the scandal? The company with whom they did business over the years gave them a contribution. I would have thought that they would pocket it and say thanks. Instead, they allowed the Jamaica Labour Party (JLP) to drag them over the barrel for something that the JLP itself was doing on perhaps a more massive scale. In my opinion, they deserve the wacking for being so spineless.

No confidentiality

We have, however, learnt something about our institutions and ourselves during this episode.

There was a time in this country when the fiduciary relationship between the bank and its customers was inviolate. In the Trafigura matter, a customer's confidential information was disclosed to a third party.

On the question of political relationships, we recall the Company H OIL that was set up in the late '80s to monitor commissions on the Nigerian shipments. P.J. Patterson raised the matter in the House, but to my certain knowledge, the books were never revealed. We can only suspect that certain rapport was established after the change of government and no one was dragged through the mud over it. You could perhaps say that there was honour among honourable men.

Road to infamy

We now have a new breed of politicians, rabble-rousers to a great extent, who are hell-bent on cannibalising their opponents and perhaps some of their own. They went out of their way to amend the law to allow foreigners to come in to drag the Opposition over the barrel. Something they wouldn't do if the shoe were on the other foot. The road to infamy starts with a few steps.

Time longer than rope, they say.

I am, etc.,

LYNFORD PHILLIPS

lynphyll@hotmail.com

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