Notwithstanding the dismal macro economic outlook arising from the global tariff/trade wars instigated by the US, and without regard to CB's soaring general and administrative costs, management decided to spit into the high winds that lie ahead by making a whopping release of loan loss provisions, apparently in order to boost the bank's net income and enable huge dividend payments to its shareholders.

No doubt certain of the bank's more high profile 'de facto controlling' directors and shareholders had much sway in this decision to significantly reduce the bank's capital available for loan losses against the backdrop of the difficult times that would appear to lie ahead.

And if those facts alone are not sufficient cause for concern, this bank has bet its house on an high concentration of investments made in short-term debt instruments issued or guaranteed by the Bahamas government. This concentration of credit risk has resulted in a structural deformity of the bank's balance sheet that significantly heightens its overall risk profile.

Because the government has no means to repay its significant indebtedness to the bank, the bank is forced to replace its maturing investments in government debt with investments in newly issued government debt, thereby effectively 'rolling forward' its exposure to The Bahamas government indefinitely into the future. Not good!

10,000

Many of the apartments at Victoria Court were beneficially owned by Craig Flower's criminal empire. Flowers is an infamous racketeering numbers boss and sweet talking low-life thug. Can't hep but wonder if shortly before the fire he had the insurance policies on his apartments carefully reviewed to ensure he would get an excellent return on his now smoldering investments.

Buffoonish and incompetent.......

Buffoonish and Wayne Munroe is another one of our crooked politicians that most Bahamians would like to see hog-tied and whipped in public.

Two days ago I posted the following comment to The Tribune's main news story on the Victoria Court inferno:

*"Not to worry. Chester the Jester was over-heard telling Stumpy Davis that now is the time for government to sign a really fat juicy contract with a PLP preferred Bahamian bidder/vendor for the purchase of a dozen new fully-equipped fire engine trucks at a cost of at least $800,000 each, i.e., total padded contract price of about ten million dollars ($10,000,000).
And of course Stumpy Davis, seizing on the identified opportunity, spoke with his minister of health who suggested a half-dozen full size very costly fully-equipped ambulances be added to the proposed government contract.
**This latest juicy government contract will soon be announced by Latrae Rahming.**"*

The ongoing massive corruption is all too easy to predict. Our successive corrupt governments are always chomping at the bit to sign fat juicy contracts with their 'preferred' vendors. It is the reason why our crooked politicians never bother to ensure anything government buys is properly maintained.

The first paragraph of the above news story written by The Tribune's Chief Reporter, Leandra Rolle, states:

> national Security Minister Wayne Munroe said he had not received any indication that firefighters lacked the necessary equipment to respond effectively to a major blaze near Bay Street last week that displaced dozens and damaged several buildings.

And the seventh paragraph of the same news story states:

> Latrae Rahming, director of communications at the Office of the Prime Minister, said yesterday the government is acquiring 15 to 20 fire trucks, with some earmarked for Family Islands.

Pray tell, how can the buffoonish Munroe say he has no knowledge of fire fighters lacking necessary equipment against the backdrop of what comical Rahming said about government needing to buy 15 to 20 fire trucks.

Someone really needs to tell poor Rahming that his boss Stumpy Davis does not look any better no matter how much spin lipstick is put on his ugly lips.

Stumpy Davis and Central Bank Governor Rolle should be coercing Commonwealth Bank's CFO to invest in even more government issued short-term treasury bills to fund a glorious state funeral to celebrate and pay public tribute to the life of the esteemed and most beloved Rodney Moncur.

OMG, did I really write that?! Such utterly unfitting and disrespectful words for a recently deceased man who so fervently believed all the while he was breathing that a husband could never be held liable for for engaging in violence to sexually assaulting and/or rape his wife.

> Yesterday, Mr Thompson criticised the government’s response, saying officials failed to act on early warnings to assist with readiness efforts.

>“I’m disappointed in the government because they knew about this from I would say six or eight weeks ago about pushing fire breaks and about being proactive and what we needed to get done and it seemed like they just sat on their feet,” he told The Tribune.

Par for the course with this most corrupt and incompetent Davis led PLP government. There are many Abaconians who would like for Davis to be hog-tied and whipped in public. Come to think of it, many Nassuvians feel exactly the same way about useless Stumpy Davis.

And you would say the same thing if the murder count over this weekend had been 10,000.