I don't see how what you describe can happen. I was once sent to Moscow for a conference, and one chap was telling me an interesting story. A huge concern owning acres of land in the Kamchatka Peninsula was "taken back" by the local government from a Russian oligarch who got the business and the land for a song during the Boris Yeltsin years. The land was re-distributed to the long suffering denizens of the town. The first thing that happened was that the people who got the land, sold it for a quick profit to buy luxury crap. I can see this happening in the Bahamas. If a bunch of people from Excellence Estates get a piece of land from a wealth re-distribution effort, you can bet that they would sell it to whomever crossed their palms with 30 pieces of silver -- foreigners included.

What most people don't realise, is that the wealth of nations resides between the ears of its citizens. People have to be economically free to chase their dreams and create wealth, and all Bahamians are still economic slaves.

We have a patrician government who stymies business and gets its piece of every possible revenue stream through corruption. We have a non-convertible currency. We do not have access to capital or venture capital. We do not have access to Big Data or any other empowering knowledge streams. We have a poorly educated populace that is still not weaned from sucking on someone else's teat.

We have a poor self-esteem as entrepreneurs and the government keeps it that way. In spite of the pablum of "Bahamas for Bahamians", it is the foreigners who make the wealth from this country. That wealth has nothing to do with resources or anything -- it is the wealth from exploitation of Bahamians who do not believe in themselves or their abilities to go forth and conquer in the business domain.

The irony is that the Bahamas can be saved, but those who hold the reins of power either cannot figure out how to do it, or want to relinquish their grasp on the public treasury. Sad.

It took Jamaica three years to collect the money to build two technology parks. Those parks are now full with all kinds of ICT businesses, including the core call centers. They have created an ICT sector in their economy that contributes millions to their GDP. We Bahamians don't believe that we can be saved or do not have in the faith in our abilities to save ourselves. If we did, Perry Gladstone Christie and his band of merry kleptocrats would be strung up in Rawson Square and vilified by the populace.

It's the Julian Francis effect for Commonwealth Breweries. Everything that he has touched in private business has turned to excrement. He is more of an order-taking clerk rather than a pro-active, business-savvy chairman.

Because Sanigest and all the political hangers-on want to collect their commission.

This is the guy who wanted to sell our oil sovereignty to Venezuela with the Petro Caribe deal. He was going all over town, trying to convince his own government to sell ourselves to the corrupt nutcase Chavez. Chavez is gone. Petro Caribe is now in ashes as well as Venezuela. Potcake een know nuttin' 'bout how tings work in the world. Even his bowling alley missed the mark. I had the dubious honour of reading the business case for the original revenue projections from Marios, and by this time in those projections, Potcake would be a gazzillionaire from the revenues. Not the case. He survives by hold government groups and church groups get-togethers at the bowling alley over which he has influence and sway.

He said the same things about the oil companies back then, as he is saying about insurance companies now.

Let's go for it. This is like accelerant such as gasoline on a fire. We need a total destruction of the economy before we can start anew, and this will make help it along to anarchy.

It will create more jobless. The good bits is that there will be a bigger, massive brain drain, and the doctors now will emigrate to places where there are doctor shortages. Lawyers will starve, which is good. A thousand of them mouldering in the grave or at the bottom of the ocean, is a good start.

Accountants will sell phone cards and guineps on the corner to survive. Domestic insurance companies will lose a quarter to a half of their business, putting higher paid workers out on the street to join their Baha Mar service worker colleagues. The PLP will find a way to make money -- usually by smuggling Bahamians into the US.

Total destruction of the middle class and upper middle class will result. All of this is better than living in a slow hell of erosion and decline. This will accelerate change due to the fact that everything will collapse and the old, corrupt, non-functioning system will be in pieces, never to rise again. Bring it on! Let's get this sad state of affairs over with for once and for all.

These are representations of NASA photographs of the melting of the ice shelf of the Arctic ice cap. It shows no signs of abating. The collapse of the Arctic ice shelf is as inevitable as the collapse of the Bahamian economy.

http://tribune242.com/users/photos/2015…

I think that we should invite ISIS to form the new government. They are organised enough to have regular garbage pickup, they drive Toyota vehicles, they behead criminals and enemies of the state (which in our cases are elected politicians), they know how to generate revenue for their government and they would stop sweethearting and the epidemic of single-mother children that is the root cause of crime. They are much better at governance than the PLP and would restore law and order in a day or two. The only negative would be that they would alter our import/export balance. We would need to import several tonnes of cotton and a whole bunch of tentmakers and sewing machines to cover all of the Bahamian gussie maes with burkas.

< sarcasm> I would really trust a group of companies named NewCo and HoldingCo. < /sarcasm> More secrecy about true beneficial owners?

A day late and a dollar short. It is interesting to see how Pinder, when he was Minister, was singing a different song about Bahamas should stand firm and resist any changes to our model of tax secrecy. Now that he is being employed on the other side, and seeing the flight of capital due to the intransigence of his own ministry in adapting to the times and world conditions, he is singing a different tune. The bottom line, is that "Financial Services" in the Bahamas, is dead man walking. We are chasing after the crumbs now - Latin American money -- which are pools of private wealth that would not pass the smell test about sources and origins of that money in the KYC (Know Your Customer) compliance rules of the civilised world.

Foreigners who don't grease the wheels get the same sort of silence as Bahamians. Several clients have issued proposals only to be studiously ignored.