How does the cost of the dorm increase more than 100% in a year? Not hard to see what is being done. The fix is in. The new building will cost 3 million, so the fraudulent contractor does not pay one cent for his dishonesty and the Bahamian taxpayer covers for this cronyism. Mr. Davis should really resign, we are sinking to new lows and the corruption stinks to high heaven.

This is the review, all bahamians should read this, it is a sobering warning of what can happen with a govt managed health program. We deserve so much better.

http://www.nib-bahamas.com/UserFiles/HT…

Administrative costs as a percentage of contributions in the Bahamas 21.6%, Barbados 5.2%, and Trinidad 4.9% - simply unbelievable mismanagement and wastage of precious pension funds!

Mr. Allen should familiarize himself with the last actuarial review done on NIB. Based on current contributions and benefits expended the fund will be insolvent by 2026. Fully 22% of contributions are consumed by administrative costs, by far the highest in the Caribbean. Barbados and even Jamaica by comparison are under 10%. In short NIB is a wonderful idea, it has helped many people, but it is terribly bloated and inefficient and has been mismanaged by successive governments. And this is the govt that he wants to manage a massive health care program? Truth is these funds should be sacred and managed by an independent management team free from govt interference. Instead govts have used NIB as a slush fund to pay for all manner of expenditures that have nothing to do with pensions. We can not afford a national health program until our beauracracy becomes honest, and efficient and with as minimal govt interference as possible. The 40 year track record of NIB gives us no such hope.

Do not be naive. There is no suspense here, all these operators know if they will get a license. The fix was in before the referendum and it is still in. Nothing is for free and you get what you pay for.

Very good point Tal which is why it pays to be honest, in a very real sense we all reap what we sow. Perhaps we need whistle blower legislation, that protects and rewards those who expose corruption and stealing from the public treasury. In the U.S. a whistle blower is entitled to a percentage of the funds recovered because of their action.

Do not forget Tal this is the same government that you want to implement a $600 million national health plan.. Mission impossible!

It is important to note that these are cable Bahamas preference shares ( as opposed to cable Bahamas ordinary shares). Preference shares (consider them corporate bonds) pay interest usually semi annually for the lifetime of the bond and at maturity you will receive back the principal.
It is possible for any Bahamian to purchase these shares. Simply open a brokerage account with either royal fidelity or Colina, or family guardian and ask them to purchase the shares for your account. Usually there is a minimum purchase ( can be as low as $1000 or as high as $50,000). There is no fee for you at the time of the share offering, as this will be paid by cable Bahamas as a fee to royal fidelity as the placing agent. There will be a fee however, if you choose to sell them before the preference shares have matured. Hope this helps.

Take your pick of any of the scandavian countries ( Norway, Denmark, Sweden, Finland). Need any more Tal. These govts are all characterized by a high level of socialism. Taxes are very high but the govt efficiently and honestly administrates very competent govt ministries. Finland has the best educational system in the world. In most of these countries, education is free some as far as university, healthcare is free and some of the best in the world. They are all consistently rated as the best countries in the world to live in. We are not there, not even close, and a poorly run national health program is worst than none at all. That is just reality. Our beauracracy is not developed enough to run programs of this import and magnitude.

Papa's time is done, in fact he should have never come back for his last term, just like Mr. Christie. Old tired ideas, with the same incompetency. We desperately need a younger leader with true vision and competency to lead this country forward, a complete break with the past. Only problem is I am not sure that person exists in either party right now.

In a different Bahamas, one where government was honest, competent, efficient, and transparent a national healthcare program would be wonderful. Sadly that is not the reality we have today, there is not one government ministry that reflects these qualities, rather it is just the opposite. The best I have seen are the govt clinics that I would argue work really well given their limited resources. We can not even ensure that there is a valid insurance policy on a public building with a real insurance company,and govt wants me to entrust my healthcare to them? No way. These govts have messed up everything they touched, clean up your act before you ask me to pay for substandard healthcare.