Unfortunately, there is no capability to creative a derivative to short government debt. If it were possible, I would be the first to sign up. Then I would vote PLP and do everything in my power to make sure that the PLP get in again. Then I would buy puts and sell calls on government debt and before the expiry in 2022 I would be a multi-millionaire, perhaps a billionaire. They would make a movie of me called "The Big Bahamian Short", Boris Kodjoe would play me on the big screen.
This time Emac, what Tal says is true. I have friends in the FNM hierarchy and they recounted what Tal said.
LBT has two problems with Minnis. The first is that she feels that he is not simpatico with the Hubigetty vision and the second is that she thinks that she should be the leader of the FNM.
Actually, I do a disservice to his legacy by calling him Hubigetty (even though it is true). The Right Honourable Hubert Alexander Ingraham has been the finest, most decent, most honest Prime Minister that The Bahamas has had to date. Bar none.
Having said that, it is Minnis' prerogative to deviate from the Ingraham doctrine. Even in the wild, the alpha male lion kills all of the cubs belonging to his predecessor. However the elephant in the room for the FNM is the cub that won't die or won't submit.
I applaud your optimism John, but from where I sit, all that I see is an inevitable downward spiral of Bahamian institutions and the Bahamian economy. I do not believe that the public or the shareholders have the full story and the full picture of BoB, and its true situation.
I have no trouble with the government saying that BoB has to be propped up, and it is essential to the Bahamian economy to keep it alive.
However, to do that, the government must have the transparency and full disclosure, informing us the shareholders and the country that that is the course of action, and that fiduciary benchmarks are being ignored in an attempt to save it.
The government has not communicated that directly, and as a result, it portrays the regulators and the Central Bank as in best case, toothless paper tigers and in the worst case, corrupt and not independent of the political process. This sends a strong message to the outside world (for example Moody ratings, oecd, eu, wto etc) that our house is not in order and the playing field is not level.
I just wish that the government applied the same financial rigor to BoB as they did to Sarkis Izmirlian.
This is the highest level of civilised discourse on this site, with two people with opposing points of views presenting intelligent, reasonable arguments in a civilised fashion.
I concur with your assessment. The very fact that the Bank of the Bahamas is allowed to operate in violation of the regulator's compliance factors indicates that the Central Bank & regulators are paper tigers that are politically-driven rather than fiscally and monetary-driven. This indicates to the entire world, that the Bahamian banking system is not a level playing field. It indicates a degree of manipulation and obstruction that is contrary to the spirit of all financial and fiduciary responsibilities. In other words it can be expressed as a corrupt Mickey Mouse outfit.
The ironic bit, is that we could have made a silk purse out of a sow's ear if Freeport had been managed correctly. I see the major success that the Caymans have with Cayman Enterprise City, and the huge investment and jobs in diverse knowledge industries, and then compare it to the "dead" city of Freeport.
It can be saved. They need to throw out Devco and the Port Authority. Then they need to give out free business licences, free residency permits and office space to anyone who wants to come in to start a knowledge-based business.
They need to throw out the profit-motive and private ownership of lands covered by the Hawksbill Treaty, and they need to government and the beneficial owners to stop treating it like a cash cow and treat it like an economic garden, where you provide a suitable environment, plant businesses and reap jobs, revenue, whole new economic sectors and a vibrant community.
banker says...
Just like whistling in the graveyard when you are scared.
On Enough business for Bahamas and Cuba
Posted 17 February 2016, 4:51 p.m. Suggest removal
banker says...
Unfortunately, there is no capability to creative a derivative to short government debt. If it were possible, I would be the first to sign up. Then I would vote PLP and do everything in my power to make sure that the PLP get in again. Then I would buy puts and sell calls on government debt and before the expiry in 2022 I would be a multi-millionaire, perhaps a billionaire. They would make a movie of me called "The Big Bahamian Short", Boris Kodjoe would play me on the big screen.
On BISX targets 100 new debt listings
Posted 17 February 2016, 4:49 p.m. Suggest removal
banker says...
Sigh ....
http://tribune242.com/users/photos/2016…
On Bahamas has worst total in region for rapes
Posted 17 February 2016, 1:20 p.m. Suggest removal
banker says...
This time Emac, what Tal says is true. I have friends in the FNM hierarchy and they recounted what Tal said.
LBT has two problems with Minnis. The first is that she feels that he is not simpatico with the Hubigetty vision and the second is that she thinks that she should be the leader of the FNM.
Actually, I do a disservice to his legacy by calling him Hubigetty (even though it is true). The Right Honourable Hubert Alexander Ingraham has been the finest, most decent, most honest Prime Minister that The Bahamas has had to date. Bar none.
Having said that, it is Minnis' prerogative to deviate from the Ingraham doctrine. Even in the wild, the alpha male lion kills all of the cubs belonging to his predecessor. However the elephant in the room for the FNM is the cub that won't die or won't submit.
On Butler-Turner angry at snub
Posted 16 February 2016, 7:40 p.m. Suggest removal
banker says...
Actually what Tal says is true.
On Butler-Turner angry at snub
Posted 16 February 2016, 7:32 p.m. Suggest removal
banker says...
I applaud your optimism John, but from where I sit, all that I see is an inevitable downward spiral of Bahamian institutions and the Bahamian economy. I do not believe that the public or the shareholders have the full story and the full picture of BoB, and its true situation.
I have no trouble with the government saying that BoB has to be propped up, and it is essential to the Bahamian economy to keep it alive.
However, to do that, the government must have the transparency and full disclosure, informing us the shareholders and the country that that is the course of action, and that fiduciary benchmarks are being ignored in an attempt to save it.
The government has not communicated that directly, and as a result, it portrays the regulators and the Central Bank as in best case, toothless paper tigers and in the worst case, corrupt and not independent of the political process. This sends a strong message to the outside world (for example Moody ratings, oecd, eu, wto etc) that our house is not in order and the playing field is not level.
I just wish that the government applied the same financial rigor to BoB as they did to Sarkis Izmirlian.
On Bank of Bahamas still violating key capital indicators
Posted 16 February 2016, 6:29 p.m. Suggest removal
banker says...
This is the highest level of civilised discourse on this site, with two people with opposing points of views presenting intelligent, reasonable arguments in a civilised fashion.
It gives me hope to see this.
On Bank of Bahamas still violating key capital indicators
Posted 16 February 2016, 8:39 a.m. Suggest removal
banker says...
Yes, but does the legislation cover foreign drones or just domestic ones?
On Liquidation regime bar to $17m asset recovery
Posted 15 February 2016, 7:46 p.m. Suggest removal
banker says...
I concur with your assessment. The very fact that the Bank of the Bahamas is allowed to operate in violation of the regulator's compliance factors indicates that the Central Bank & regulators are paper tigers that are politically-driven rather than fiscally and monetary-driven. This indicates to the entire world, that the Bahamian banking system is not a level playing field. It indicates a degree of manipulation and obstruction that is contrary to the spirit of all financial and fiduciary responsibilities. In other words it can be expressed as a corrupt Mickey Mouse outfit.
On Bank of Bahamas still violating key capital indicators
Posted 15 February 2016, 4:47 p.m. Suggest removal
banker says...
The ironic bit, is that we could have made a silk purse out of a sow's ear if Freeport had been managed correctly. I see the major success that the Caymans have with Cayman Enterprise City, and the huge investment and jobs in diverse knowledge industries, and then compare it to the "dead" city of Freeport.
It can be saved. They need to throw out Devco and the Port Authority. Then they need to give out free business licences, free residency permits and office space to anyone who wants to come in to start a knowledge-based business.
They need to throw out the profit-motive and private ownership of lands covered by the Hawksbill Treaty, and they need to government and the beneficial owners to stop treating it like a cash cow and treat it like an economic garden, where you provide a suitable environment, plant businesses and reap jobs, revenue, whole new economic sectors and a vibrant community.
On QC fears Freeport 2nd home ‘exodus’
Posted 15 February 2016, 10:21 a.m. Suggest removal