For the first time in many years, I am proud to be Bahamian. This painting makes me proud. Finally, Bahamians are waking up. Boy, it sure took a long time.

Surprise. Surprise. The Government divests the Bahamian people of BTC, its crown jewel, at a fire sale price. Now, the company many government officials reportedly own a large number of shares in "wins" the license. Add to this the mysterious disappearance of Digicel from the auction, and you couldn't write a better plot of corruption. Considering BTC has annual revenue of 118 million, the auction price of 62.5 million is peanuts. It appears that Virgin was never a real participant or contender, as the final sale price was exceptionally low. One would imagine a competitive bidder would have pushed the price well over 100 million.

How long before a web shop takes over the bottom floor? That sure will be classy.

Trust me, they are. That's my main point. These esoteric transactions have no impact on the banking sector and so bringing in foreign lawyers will not ressurect or vastly improve the banking sector. With regard to the departure of HNWI, I would imagine a large factor is crime and the belief that the Bahamas is no longer a democracy but a racist dictatorship.

These guys couldn't earn 1 million legally on their own merit, but in government get to play with 100 mill like pocket change. Seems like a crazy system to me. Who is buying this stuff?

I do not know the planet this guy speaks of when he states,

"the qualified foreign lawyers will hire these juniors and gradually pass on to them the necessary expertise to become fully-fledged experts."

Not going to happen. The minute these large firms move here, 90% of Bahamian commercial attorneys will be out of a job. He can't actually believe these firms will hire "juniors" can he? What, out of the kindness of their hearts?

I hate to burst this guys bubble when he states,

"I query whether any of our local firms have handled similar deals, or have the resources to do so, since they require specialised attorneys with foreign training and contacts in major financial centres."

The large law firms in the Bahamas are doing transactions the same size or bigger than this all day long ($300 million, $500 million, you name it). They're quite easy actually, as one is only advising on the capacity of the IBC to enter such agreements and the enforceability of the agreements in The Bahamas. The governing laws of these revolving loan agreements and purchase agreements are 99% of the time governed by the laws of a country other than The Bahamas. This guy needs to speak to some lawyers before he spouts off so casualy about our legal profession, which is dealing with matters much larger than he imagines.

Just look at the scandal of the Red Cross in Haiti.

http://www.msn.com/en-ca/news/weekendre…

In late 2011, the Red Cross launched a multimillion-dollar project to transform the desperately poor area, which was hit hard by the earthquake that struck Haiti the year before. The main focus of the project — called LAMIKA, an acronym in Creole for “A Better Life in My Neighborhood” — was building hundreds of permanent homes.

Today, not one home has been built in Campeche. Many residents live in shacks made of rusty sheet metal, without access to drinkable water, electricity or basic sanitation. When it rains, their homes flood and residents bail out mud and water.

The Red Cross received an outpouring of donations after the quake, nearly half a billion dollars.

The group has publicly celebrated its work. But in fact, the Red Cross has repeatedly failed on the ground in Haiti. Confidential memos, emails from worried top officers, and accounts of a dozen frustrated and disappointed insiders show the charity has broken promises, squandered donations, and made dubious claims of success.

You try getting turned down by 22 jobs and speaking coherently. This post was written in desperation. It is a cry for help. Sometimes, rage cannot and should not be expressed coherently. Notice the capital letters. This youth is outraged and on the verge of tears.

Stronger Bahamas!