David P. Rowe Defended Cash Plus?

Here are a series of quotes from a article entitled “Audley Shaw and crabs in a barrel”  by Professor David P. Rowe in the Sunday Herald, November 2007. David Rowe appeared to more than defend Cash Plus, now he is suing Cash Plus for J$117 million dollars

“I understand that Bear Stearns and Cash Plus are about to do a US$1 billion hotel development at Drax Hall. It is a pity that some elements of the Jamaican financial community are behaving like crabs in a barrel in order to sabotage Cash Plus’ obvious success.”

“Media reports suggest that Cash Plus is a major player in the Jamaican economy. Cash Plus, based on media reports has opened negotiations to purchase the Hilton hotel, one of the largest Kingston hotels, in Jamaica, Drax Hall Estate and other huge assets including Mainland International.”

“Cash Plus is also involved in real estate development in the country. Cash Plus is tantamount to the concept of corporate success in modern Jamaica. Of course, as all capitalists know, Cash Plus has had to take great risks in building its empire.”

“The other Jamaican economy is the US dollar economy in which all Jamaicans thirstily participate. This part of the economy is totally unregulated, but forms a basis for significant day-to-day Jamaican transactions. Law firms, beauticians and car dealers all take US dollars in preference to the local currency, and the Bank of Jamaica and the threatening Financial Services Commission (FSC), have no capacity or power to regulate US dollar transactions.”

 “Obviously enterprising American financial establishments will benefit from Cash Plus’ endeavors, while the Jamaican financial institutions, like crabs in a barrel, spread rumours rather than take productive risks.”

See Full Article…

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5 Responses

  1. I am sorry but this downright hilarious. Maybe he was one of the ‘sophisticated’ ones who flew over and met with Carlos Hill, then having swallowed his BS came with self proclaimed intelligent reasoning. HMmmmm sounds like our good friend the ‘fraud detector’ Hermes

  2. Jason did you see this one about World Wise? https://investforlife.wordpress.com/2008/06/11/world-wise-audit/

  3. Such sophistication in his arguments went straight over my head.
    Again as with all ponzi’s he neglected one little point.
    WHERE WAS THE EVIDENCE THAT CARLOS HILL WAS MAKING ANY MONEY TO JUSTIFY PAYING OUT 10% PER MONTH. Just like our good friend Super Dave there was no independent verification to ensure money was being made.
    You can change the product whether it’s forex, real estate,selling marbles it doesnt matter. The sound principles of investing are the same. Follow them and you will find it easy to weed out the scams.

  4. John Doe,

    I did see that one about World Wise and to tell the truth, simply unbelievable

  5. Wow! 117 million? damn. I wonder if he had given hill the money just before the crash or after some long time having already recovered the principal. hmm the article does not seem to say anything about this.

    Maybe his bigging up of cash plus caused people to put in their money so he could get out his principal and mucho interest.

    Can u imagine? the ability to at least sue for 117 million while having lost nothing!

    No this guy is not that astute…not as smart as veterans like Jason and John Doe.

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