THE CLEARING HOUSE BANK CHIEF EXERCISES HYPERBOLE

Gowan Bowe should learn this: there is a time to speak and a time to be silent. One such time was last week. When the head of the Clearing House Banks in The Bahamas, Mr. Bowe, claimed that the assertion that the Central Bank ought to regulate fees of banks was leading towards a communist state, was engaging in inexcusable hyperbole. In overstating his case, he made a mockery of his arguments. The Banks are regulated right now.  They cannot charge any interest they want. They need a licence to operate now.  There are strictures on what they can disclose.  So what precisely is his argument against regulation? There is no slippery slope at all.