I agree BOB should be liquidated but it should not be done immediately. That would prove too much of a shock to the banking system and might precipitate a run on banks that would be difficult to contain. This is a royal mess, bob owes depositors 684 million, and as of second quarter figures only has 120million in liquid assets.

BOB could sell its loan portfolio but 35% of that is non accrual loans. No matter how generously you calculate it BoB assets are at least 200 million short of making depositors whole. And that is being generous. This bank is for all intents and purposes insolvent and would have collapsed but for government support. The irony is that it is govt involvement that helped run it into the ground, and now only govt involvement keeping it alive.

What should be done is to develop a credible plan to slowly liquidate this bank, selling off assets, trying to make depositors as whole as possible. Bahamians should remember that depositor insurance in this country is only up to $50,000 in a single account. Why persons continue to place deposits in this bank when so many other safer options are available is beyond me.

If RBC owns this holding company, which I fully expect, then they own the interest in Finco. As a matter of fact they own 75% of the shares in Finco.

As for operating as a separate entity that is not true. Finco has closed several branches and merged some into the same premises as RBC branches. Also much of the technical IT and back office work is being done by RBC staff, finco pays an annual fee to RBC for these services.

Also Finco has borrowed tens of millions of dollars from RBC at very favorable rates. Certainly they are a wholly separate entity in name only, they do not operate as a separate entity in reality.

It appears John was referring to Finco, which is majority owned by RBC and which has suspended dividends for about 2 years.

This government and for that matter the last one have no vison or competence to fix our electricity woes. Of course rates have to be increased to supply an new efficient plant that will lower electricity bills over the long run and be much more environmentally friendly than the toxic, aged generators we have that can break down at any moment.

An innovative way to deal with rates is to provide the first 100 kwhrs of power free to every consumer in the Bahamas. This will enable the poorest of families to have a basic minimum of power, enough for lights, a refrigerator, and a tv. It is shameful and scandalous that over 5000 households have been disconnected. It is not possible to have a properly functioning country with so many citizens without electricity. Then of course rates have to be increased for each additional 100 kwhrs of consumption. This way the richest and those who consume the most elec. subsidize those who can not pay for the bare minimum. I believe most fair minded Bahamians would agree with this arrangement.

With this of course is an absolute zero tolerance for unpaid bills. Persons would have an incentive to pay their bill as they want to receive the following months 100 kwhrs free. The power company should be fully privatized with no govt influence whatsoever, and of course rates should be adjusted so that the private owner earns a fair profit on his investment. This is easily done, public utilities are the the most regulated industry in the world. It is being done now in grand bahama, there is a new efficient plant, far fewer outages, reasonable rates, and a fixed profit margin for the privately owned GBPC.

Is our DPM serious? He can not be that dumb, maybe he is, it would explain a lot. Lower electricity rates are simply because the price of oil has fallen significantly. period. And I have as much impact on the price of oil as he or BPL does,which is none. So he should shut up and let us presume how dumb he is, for each time he opens his mouth he removes all doubt.

How would Mr. Fitzgerald like it if someone stole his private emails and made them public? This is criminal, where is the police commissioner - silent again. There is no law in this country for the political elite, and sadly no shame or honor, especially in Mr. Fitzgerald. In a civilized country if he was an honorable person he would have already resigned.

We are fast approaching becoming a failed state. This will be christie's wonderful legacy. A bankrupt, polluted country.

Add to this the fact that the Chinese apparently want to be made whole and not accept a haircut on the sale price it makes a deal even more unlikely. This resort may never open as hard as that is to believe.

I thank you for your comments and articles, which while difficult and depressing to read as a Bahamian who only wishes the best for this country, serve as a wake up call to the cold, hard, sad reality we face. The only saving grace is it appears almost certain that bahamar will not be open before elections next year and that will be the nail in the coffin for this corrupt, incompetent Christie administration.

Apology accepted. Now please go and pay your fine. When will we hear from the Chief Justice or is he above the law? And not a word from our police commissioner, will he also not enforce the law?

Goodluck even trying to travel to cat island now ;)