This is an extreme example of social and economic injustice. The festival was started by a small group of West Indians in 1967 and had the festival taken away from them by the government of Toronto and Province of Ontario and given to a Bank (equivalent to the unethical fees and bailouts on Wall Street). The festival generates $483 million in economic activity annually for Canada, yet was deliberately not sufficiently supported in a effort to take over the festival, although both the city and Provincial government gives 10X more to events that bring in less than 10% of what Caribana brought in under the founders leadership.
http://www.thestar.com/opinion/letters/article/839991--caribana-a-victim-of-cultural-racism
http://www.thestar.com/news/article/996630--former-caribana-now-called-scotiabank-caribbean-carnival-toronto
http://sharenews.com/opinion/2010/08/04/caribana-exploitation-and-di