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TRYING TO BANKRUPT THE BANK OF THE BAHAMAS

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discount cialis drugstore times;”>(The photo shows the Leader of the Opposition and his colleagues sans two of them at the end of a march to the Public Square in Nassau on House of Assembly day Wednesday 14th January, sildenafil doctor to protest the handling of the Bank of the Bahamas by the Bahamas Government)

The Prime Minister Perry Christie has finally caught on to a message we think can stick in this whole matter of the Bank of The Bahamas.  The background you will remember is that the bank had to provision some 100 million dollars, fire some staff and board members in order to deal with substantial losses that have accrued as a result of the fiscal crisis of 2008.  The Bank has had no worse luck than other clearing house banks in Nassau but it happens to be owned by the Government which at the moment is run by the PLP.

Back to today.  Because it’s the PLP in office, the FNM has figured out if they can cause the bank to go under then they can show it’s the result of PLP mismanagement and the PLP always mismanages; they are corrupt and they also give loans to their friends.  That’s the FNM narrative.  Except it’s a big fat effen lie.

The facts are stubborn on this: all of the loans were given by the Board of Directors that was appointed under the FNM.  That Board left with the PLP taking office.  The Directors who were involved in credit since then have departed the Board, so has the credit officer

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. The present Managing Director Paul McWweeney who has indicated that he is leaving in June had no say over the granting of loans. 

The FNM doesn’t want to hear it.  They have been because of the silence of the PLP in the face of the allegations able to sell this narrative of theirs to the public.  We think until now.

The FNM held a march on the House of Assembly day 14th January. The march was to protest the Bank of the Bahamas matter.  The Prime Minister put the question to the FNM in the House that day: what precisely is the point of marching against or on the Bank of the Bahamas?  He supplied the answer; there must be some chat amongst their friends to help drive the price of the bank down so they can buy it for a song.

Leader of the Opposition Hubert Minnis was stung by the comment and asked that it be withdrawn.  He denied that he was trying to get the bank sold to one of his friends.

We go further than the Prime Minister; the FNM wants the Bank of The Bahamas to go to Brent Symonette, the former Deputy Prime Minister who is a major shareholder in a competing bank Commonwealth Bank.  We believe that is the real story.

Now it’s up to these young PLPs who have all the say amongst themselves on their closed end groups but can’t find their voices in the public to spread the word.  We know the reason why the FNM wants the bank to go belly up.  Simply to get it sold to Commonwealth Bank for a song.

Say it aint so Dr. Minnis.

Number of hits for the week ending Saturday 17th January 2015 up midnight: 425,335;

Number of hits for the month of January up to Saturday 17th January 2015 up midnight:: 1,005,069;

Number of hits for the year 2015 up to Saturday 17th January 2015 up to midnight:1,005,069.