Not 100% sure, but i believe GFV buys the loans at a discount from the bank (per example above at 25% of the value). This means the bank makes something back off an item that would have been a bigger loss. GFV then goes to the mortgagee and will try to renegotiate the monthly payments to an amount they can afford. As long as this is above the 25% value of the loan they will make the difference. This happens all the times in other countries, however this may be the first over here. That the banks don't do it is a cost benefit analysis by them. It is more beneficial for them to get it off their books then continue trying to receive payment.

The outcry of this always makes me laugh. Yes someone will make good money off of it, however if done right a large number of Bahamians will stand to make money out of it. Whoever wins it will most likely make money, however one thing is for sure and that is it shouldn't be run by Government. That is our main gateway to the country and we should all be embarrassed at how it looks. If some other entity can come in, clean it up and at the same time increase the number of tourists we would be stupid to say no. If more tourists come, there will be more people to take taxis, more people buying in the straw market, more people eating, more people drinking, more people shopping. All leading to more Bahamians making money.

I am glad this is all coming out, and i hope they do this at all the other quasi Government entities. If any of these actions are illegal then charge the person, if they are not illegal but immoral then change the rules and put the correct controls in place to either stop them or make them illegal next time.Its funny how people complain about this being a waste of money don't realise that if we don't stop the level of corruption we have soon, then taxes will be going up again, and one of the main ways of doing this is find out how the corruption occurs and put in place mechanisms to stop it. One would think that any FNM's thinking about doing stuff will think again, cus if the PLP win they are going to want to do the same to FNM's as has happened to them.

As long as the used cars are in good enough condition (body work, and environmentally), plus the used car sellers pay the fees due to Government (duty, VAT, Business License) then there is nothing wrong with it, and the dealers will have to adapt to survive. If his worry is the clean up of the cars after they are finished being used, then all Government has to do is pass a law saying the car owner is responsible no matter what happens to it. They know who owns a car so if its found charge them.

Of course this is wanted. And in many instances deserved. Many civil servants are vastly underpaid. Unfortunately the only way for them to be paid the correct wage is for the civil service to be reduced in numbers and become more effective. However as soon as talk is given to redundancy the unions refuse to budge. As such the civil service will continue to be morbidly over staffed and not be fit for purpose, whilst those who could perform at the level needed and therefore compensated at the correct level will never get a chance.

As always it is easier to balme someone else rather then those you are fault. That is the Bahamian people for continually electing people who are either corrupt or have no clue what they are doing. There has been no reason why this country should not be financially sound with good education and a safe environment. But our politicians always took the easy road, and we gladly went along even though we knew one day the chickens would come home to roost. Unfortunately that day is fast arriving.

We can always tell all foreign entities that we won't listen to them. Of course it would very quickly mean the end of the offshore industry being used by Western nationalities (this is already happening). By doing what is proposed there is a chance we can save some of the offshore industry. The days of people from wealthy nations wanting to put their money here to avoid tax in their home country are coming to an end, if we want to survive we need to provide exceptional service and estate planning advice. If not the industry will continue to dry up (think how many banks have closed or downsized in the past few decades).

It's a step in the right direction, however the Government needs to think bigger then just what we eat when talking about healthier lifestyles. I used to go to Fort Charlotte for exercise and there are a number of people there. However after storms it takes weeks to months for the lights to be turned back on. Then come Christmas the lights will be taken down for use at Junkanoo and we will have to wait weeks for them to come back. For those of us who liked to run the hills, we are unable to do this now as they have a chain link fence half way down. Finally they use the park for concerts and other shows (i believe Carnival will be there) which destroys the grounds. Government should be doing all they can to encourage Bahamians to get outside and exercise but they don't appear to care.

Must be a vengeful God then.

I don't agree with abolishing fee paying private schools, i think the aim should be to make public schools so good that parents would rather put their children into the public schools. I do however firmly believe the Government should no longer fund the private schools as that money should be spent on public schools.