BAHAMIANS NEED PROTECTION FROM BANK FAILURE: IMF

The Tribune Business Section reported last week that the International Monetary Fund (IMF) said that the deposits in Bahamian banks and Credit Unions are underinsured and there needs to be reform to protect consumers from losing their money.  We go one step further and say the public needs protection from banks themselves and especially the Central Bank, that the former is greedy and rapacious, the latter does not protect fails in its mission to protect the public.