Where is Fred Mitchell when you really need him? He is issuing a trivial, meaningless press release every other day but on this issue is strangely silent. Why has he not named Mr. nygard as a national security threat and had him deported? Must have 5 million reasons not to.
I applaud these Bahamians, something has to be done to guarantee that our right to beach access is protected. Here in Long Island at Cape Santa Maria beach, which is one of the most beautiful in the world, beach access is being denied to Bahamians despite there being numerous public access rights. Local govt paid thousands to buy signs designating the access ways but because of influence of foreign homeowners will not install them. So Bahamians do not know where they can go and have no access. These signs need to be installed and Bahamians right of access enforced!
Apparently you do not understand what happens when you assume! Especially when you assume that our parliamentarians are competent or that our attorney general' s office is as well. They are patently not, and this is not an assumption, it is borne out by history and the facts. Such as violating basic human rights by incarcerating persons for years, as long as 9 years in the case of a Japanese citizen and in the present case three years.
Of course parliament can pass laws that are unconstitutional, to think otherwise is naive and erroneous. Fred Smith has his faults, hyperbole and flamboyance along them, but no one in this county is currently more important to the preservation of our democratic rights than he his. And I am very grateful that he acts as a check against our incompetent govts, FNM and PLP. Our courts too have their faults but have been an invaluable check against unjust govts in this country who lack transparency and crave power beyond their office. Under the last FNM govt they resisted mandatory sentencing etc. So be very careful who you chose to govern you and a little paranoia as regards their competence is very healthy!
With the Chinese holding all the leverage and being so opaque this is turning into an unmitigated disaster for the Bahamas. Also we need not believe anymore of Christie's " fairy tales" about good news coming soon. He seems as clueless as potential investors as to what is really happening and powerless to direct the outcome in any meaningful way to the betterment of the Bahamian economy.
Fred Mitchell is an embarrassment and should resign. When will the attorney general bring human rights abuse charges against him? It seems he is the criminal in this sad affair! As we like to say he should shut up and sit small.
On a serious note Fred Smith is a true national hero and perhaps more important to the preservation of democracy in the Bahamas than anyone else today. This government should be ashamed to hold persons for three years in detention without due process, that is a clear human rights abuse.
Very good question as Royal bank is the " government's bank " , where the general consolidated fund is and it is in perpetual overdraft. That overdraft is capped at 100 million, although occasionally exceeded depending on the time of the month as the ebb and flows of govt revenue comes in and expenses are paid.
Commonwealth bank could easily replace Royal bank in this function. True it would need to raise capital, but in the current highly liquid environment and given commonwealth's reputation that would be easy. Either a preference share offering or an IPO of additional shares, likely a combination of the two would do the trick. The bank is 100% Bahamian owned, with over 6000 shareholders, three of whom are among the richest Bahamians and own a third of the shares. Why should the government's business and the attendant profits not go to Bahamians?
Think too of the benefit to the Bahamian economy. In the mid 2000's the Canadian banks annual net income was @ 300 million dollars. Imagine those funds not being repatriated away from the Bahamas but circulating in the Bahamian economy. The effect would be massive. Last year our govt had to borrow U.S. dollars to shore up our external reserves which have come under significant pressure. This is key to our one to one peg to the u.s. Dollar. These bonds are at a much higher rate than Bahamian registered stock. Why should we have higher borrowing costs to make foreign banks richer. It makes no sense. Commonwealth bank has over 500 employees, every single one Bahamian. None of the Canadian banks can say that. It is time if we really believe in Bahamians to empower Bahamians and stop catering to foreign banks that are abandoning us.
Whether they walk away is debatable as they are still profitable, especially as they have downsized so much already. If they do walk away the void can be filled by a 100% Bahamian bank like commonwealth bank which is a very well run, capitalized institution whose profits are the envy of the banking industry. Fidelity bank has had record profits the last three years as well, they would love to increase market share as well. That is how capitalism works.
This goes right to the bottom line of the middle class and unemployment in our country. I don’t know how we’re going to arrest this.”
Mrs. Butler Turner must not be that bright. There is a very simple way to deal with this problem and that is to raise the tax rate on repatriated profits of these Canadian banks. This will benefit the treasury by raising revenues, reducing the drain on our precious external reserves and giving the Bahamian banks a competitive advantage. Commonwealth Bank and Bank of the Bahamas will not be outsourcing jobs as these foreign banks are. These Canadian banks have no real allegiance to or care for the Bahamian people, they are simply interested in extracting as much profits from this country as possible while at the same time contributing as little as possible in taxes and job creation. RAISE their taxes NOW. Problem solved.
DonAnthony says...
Where is Fred Mitchell when you really need him? He is issuing a trivial, meaningless press release every other day but on this issue is strangely silent. Why has he not named Mr. nygard as a national security threat and had him deported? Must have 5 million reasons not to.
On ‘Kick billionaire out of country’
Posted 16 March 2016, 1:23 p.m. Suggest removal
DonAnthony says...
I applaud these Bahamians, something has to be done to guarantee that our right to beach access is protected. Here in Long Island at Cape Santa Maria beach, which is one of the most beautiful in the world, beach access is being denied to Bahamians despite there being numerous public access rights. Local govt paid thousands to buy signs designating the access ways but because of influence of foreign homeowners will not install them. So Bahamians do not know where they can go and have no access. These signs need to be installed and Bahamians right of access enforced!
On UPDATED: Police and vendors clash over Cabbage Beach access
Posted 1 March 2016, 10:20 a.m. Suggest removal
DonAnthony says...
Apparently you do not understand what happens when you assume! Especially when you assume that our parliamentarians are competent or that our attorney general' s office is as well. They are patently not, and this is not an assumption, it is borne out by history and the facts. Such as violating basic human rights by incarcerating persons for years, as long as 9 years in the case of a Japanese citizen and in the present case three years.
Of course parliament can pass laws that are unconstitutional, to think otherwise is naive and erroneous. Fred Smith has his faults, hyperbole and flamboyance along them, but no one in this county is currently more important to the preservation of our democratic rights than he his. And I am very grateful that he acts as a check against our incompetent govts, FNM and PLP. Our courts too have their faults but have been an invaluable check against unjust govts in this country who lack transparency and crave power beyond their office. Under the last FNM govt they resisted mandatory sentencing etc. So be very careful who you chose to govern you and a little paranoia as regards their competence is very healthy!
On Fred Smith: Jail or fine for violating bail 'completely unconstitutional'
Posted 27 February 2016, 11:16 a.m. Suggest removal
DonAnthony says...
With the Chinese holding all the leverage and being so opaque this is turning into an unmitigated disaster for the Bahamas. Also we need not believe anymore of Christie's " fairy tales" about good news coming soon. He seems as clueless as potential investors as to what is really happening and powerless to direct the outcome in any meaningful way to the betterment of the Bahamian economy.
On Baha Mar bidder’s ‘hands are tied’
Posted 23 February 2016, 2:31 p.m. Suggest removal
DonAnthony says...
Fred Mitchell is an embarrassment and should resign. When will the attorney general bring human rights abuse charges against him? It seems he is the criminal in this sad affair!
As we like to say he should shut up and sit small.
On Cubans relieved after release; Mitchell announces investigation
Posted 20 February 2016, 12:51 p.m. Suggest removal
DonAnthony says...
On a serious note Fred Smith is a true national hero and perhaps more important to the preservation of democracy in the Bahamas than anyone else today. This government should be ashamed to hold persons for three years in detention without due process, that is a clear human rights abuse.
On VIDEO: Two Cuban detainees released after Supreme Court hearing
Posted 18 February 2016, 1:34 p.m. Suggest removal
DonAnthony says...
Could the commissioner please put this officer on a diet! His belt is groaning in pain and seems on the verge of collapsing under the pressure.
On VIDEO: Two Cuban detainees released after Supreme Court hearing
Posted 18 February 2016, 12:17 p.m. Suggest removal
DonAnthony says...
Very good question as Royal bank is the " government's bank " , where the general consolidated fund is and it is in perpetual overdraft. That overdraft is capped at 100 million, although occasionally exceeded depending on the time of the month as the ebb and flows of govt revenue comes in and expenses are paid.
Commonwealth bank could easily replace Royal bank in this function. True it would need to raise capital, but in the current highly liquid environment and given commonwealth's reputation that would be easy. Either a preference share offering or an IPO of additional shares, likely a combination of the two would do the trick. The bank is 100% Bahamian owned, with over 6000 shareholders, three of whom are among the richest Bahamians and own a third of the shares. Why should the government's business and the attendant profits not go to Bahamians?
Think too of the benefit to the Bahamian economy. In the mid 2000's the Canadian banks annual net income was @ 300 million dollars. Imagine those funds not being repatriated away from the Bahamas but circulating in the Bahamian economy. The effect would be massive. Last year our govt had to borrow U.S. dollars to shore up our external reserves which have come under significant pressure. This is key to our one to one peg to the u.s. Dollar. These bonds are at a much higher rate than Bahamian registered stock. Why should we have higher borrowing costs to make foreign banks richer. It makes no sense. Commonwealth bank has over 500 employees, every single one Bahamian. None of the Canadian banks can say that. It is time if we really believe in Bahamians to empower Bahamians and stop catering to foreign banks that are abandoning us.
On Bank outsourcing: Middle class on ‘unstable footing’
Posted 5 February 2016, 6:02 p.m. Suggest removal
DonAnthony says...
Whether they walk away is debatable as they are still profitable, especially as they have downsized so much already. If they do walk away the void can be filled by a 100% Bahamian bank like commonwealth bank which is a very well run, capitalized institution whose profits are the envy of the banking industry. Fidelity bank has had record profits the last three years as well, they would love to increase market share as well. That is how capitalism works.
On Bank outsourcing: Middle class on ‘unstable footing’
Posted 5 February 2016, 2:39 p.m. Suggest removal
DonAnthony says...
This goes right to the bottom line of the middle class and unemployment in our country. I don’t know how we’re going to arrest this.”
Mrs. Butler Turner must not be that bright. There is a very simple way to deal with this problem and that is to raise the tax rate on repatriated profits of these Canadian banks. This will benefit the treasury by raising revenues, reducing the drain on our precious external reserves and giving the Bahamian banks a competitive advantage. Commonwealth Bank and Bank of the Bahamas will not be outsourcing jobs as these foreign banks are. These Canadian banks have no real allegiance to or care for the Bahamian people, they are simply interested in extracting as much profits from this country as possible while at the same time contributing as little as possible in taxes and job creation. RAISE their taxes NOW. Problem solved.
On Bank outsourcing: Middle class on ‘unstable footing’
Posted 5 February 2016, 2:01 p.m. Suggest removal