The Caymanian Compass, as well as our sister publication the
Cayman Financial Review, has written some details of the ethics complaint
before the UK Commission for Standards regarding Lord David Blencathra – who
has been hired to run the Cayman Island’s London Office.
However, we must confess that we are somewhat bemused to see
the hyperventilating news coverage, both here and across the pond, about the
complaint regarding Lord Blencathra’s employment in that office.
We’re sure no one among the UK’s Labour Party and their
press allies would like to see an individual with real influence in the halls
of power who was hired to assist the Cayman Islands knocked out of that
position by a scandal, no matter how trifling.
Surely not, no.
By the same token, we’re sure no one in the Cayman Islands
government has ever even considered embarking on a course of action that might
lead to a potential conflict of interests?
Perish the thought!
However, both sides seem to be spending an awful lot of time
on the subject, it appears to us. We have to wonder if the gentlefolk doth
protest a bit too much.
Let’s be real, folks; Cayman needs experience and influence
to protect and advance the interests of its financial services industry both at
home and abroad.
People here might complain about the expense of having
lobbyists and their ilk, but given Cayman’s standing in the global financial
services industry and the challenges it has faced from foreign politicians
trying to deflect blame for their countries’ own failed policies, it is
Although it would be great to have Caymanians in all of
those positions, lobbying efforts in foreign countries, almost by their very
nature, need to be done by insiders of those countries with powerful contacts.
Not surprisingly, those people also tend to be citizens of those countries.
To the extent Lord Blencathra can provide that, the Cayman
Islands should support him, even if politicians that wish for the end of the
Cayman Islands’ financial success, and people who feel their family members
should have gotten a job somewhere, do not.