......go to the root of the problem.?. We elect leaders based on their Charisma....few technocrats...who become part of the nomenklatura....fixed unyeilding group related just continuing the old ways...noone rocks the boat.... Y Capitalizing on what we have, sun, sand, sea. We should have had search parties to put together electricity from tidal currents, solar power, use pf sand for glass, solar panels, etc However the nomenklatura just continues along the same path of collecting the monthly paychecks and voters voting govts out
Why blame the past if you are prepared to pump and continue with funding agencies like the Bank of the Bahamas knowing that the Resolve Chairman James Smith himself expressed publictly that the 100 million bailout was paid for assets worth less than half that and even supported by international respected Accounting firm that the 100 millon paid was for assets worth even less than the Chairmans valuation!!! . And then pour another 166 million??? And now.?. People need hospital beds. People are in soup lines. Charitiescare collecting food for the needy........ Investigate!! Who gave bad loans!! Why pump public money so some private investors can benefit!! Let market forces prevail. Sell the bank!! Liquidate!!!
Any prudent business man knows when to exit. Even the prevoous govts knew when to close the Bahamas Hotel Corporation and exit!!! Even CEO PM Minnis, Roc wid Doc knows for the govt to get out of the govt constructing less than 100 million worth of low cost homes an the private sector to handle it !!!
The tings yinna shoudda been protesting fer decades and picketing that led to the utter devestation people lining up for bowk a soup, collecting food from doners, banks taking advantage selling homes two middle pages newspapers pages wid nothing but homes for sale...and how many years of slidjng downhill yall done nottin fer da people and now govt trying to help put food in da chillren mout yall now protesting???? What manner a people are you the few..... that want to keep everybodyelse down..? Swear if Mother Thrresa was to show up to help yinna would be condemning her..?.pulease yinna better fix ya mout and try do betta....
Crucial fact overlooked is that Roc wid Doc is the CEO and does not have the Minister of Finance portfolio. Given that the PM is not the Finance Minister should enable more synergies, two heads are better than one to arrinve at the best position along with govt analysts etc. plus in all fairness this undertaking was already in the works by previous govt. And credit is owed to them also.10 ? years working on this project.
Imagination....vision to see success and create conditions to enable it is what is needed..... Of course protective contractural clauses, performance bond etc is standard...
They need to change all the staff in Customer service and staff who have been sitting at desks for ages dealing with the customers. They are fully experienced and have all the answers to justify wrongdoings.
When the bigger bosses visit the local pimps usually does the sip dip to usually cover up and distract from their local shortcomings. Never fails to happen. The Bahamas being a global player in banking has Banking courses in all fields and reputable banking programs available AbibAcibCPsnumerous and more so than many Caribbean Nations. Most bankers have first degrees znd there are tellers with masters.Commercial Banks advertize and select the best suited snd pay is less than 20k starting. Stupidly ghe authorities take in the few executives Offshore of Private High paying executive pay into the equasion and average bankers making average 65k pa for all.(similarly the authorities add all the billionaires into average salaryincome as the Bahamas having overall 3 or 4th highest income this hemisphers..yes d grade fully correct) YES on this stupidity reigns On the primary school d grade concerns doesnt affect bottom line who his HumanResource dept hires. Immigration always complies with financial requests if no Bahamians available. Being the expert in Sales to sell his banking products....well his loan officers have his high targets and quotas yo meet so yhat can get bonuses yearly salary increase. How you train them and get massive loan defaults...well thats your training and your decision to approve. If ypu can deny many now you could have denied before. The customer may be illeterate but its your bank trained loan officer, your supervisor, your bank traoned Credit Risk Officer and your headquarters who approves the illiterate customer who does not qualify. its very simple maths to verify basic concept ptacticed everyday....when ones does potty one makes sure that there is enough toilet tissue!!! You and your staff hold the decisions in hiving the loans. Detrimential Mortgage and lendong Laws actually favour the bank with unquestionably the bank always having the very best battery of lawyers on call to harrass the poor customer all the way to Judgement and stupidly no proper bancruptcy laws. Customers always loose. Blame uourselves for uour shortcomings, losses and staffing. On curruption well ots no different fron other jurisdictions.You should not have listened to the pimps or sipsip (Bahamian gossip)
...i still am sctraching my head on this.... Govt trying to create realistically likely priced land 30,000 and elimiinating stamp duties on building materials to get homes around 80,000??. to 120,000 ??for qualified homeowner applicants......when the current average homesare around 180,000 upwards
Accountant banker wants the govt to have the opportunity to provide first-time homeowners into existing repossessed homes at affordable prices by buying existing repossessed homes market valued valued 180,000 upwards at prices for yhose customers the govt is trying to help first time buyers...80-120k?? Range
question....will not those whom the govt has evicted along with their families now be on yhe road trying to find lodgings??? ....after the original owner has paid downpayment, lawyers fees, maintenance, capital appreciation on their investments worth 180,000 or more....question ...why would govt following the accontant banker line of reasoning want the original owner to have his home repossessed at a low value so the govt target applicant can qualify??..naughyy..naughty...naughty....sounds likr defrauding the origonal homeowner to make the home low costing for the lowet qualifying govt applicant to qualify....
......what a banker!!!! .....Mr. Bowe..."some people will lose their homes, but equally it will be an opportunity for people coming into the houusing market to have affordable homes." This is an 80 sq mile island and daily getting smaller as new construction occurs. Supply will get smaller and demand rise with prices beyond the reach of many as what the PM Minnis and govt is trying to assist with. All govts do this. As the banker accountant he should know that 4,000 mottgage accounts are ususlly joint husband wife. 4,000 means 8000 people families, kids, parents, handicapped, ill, elderly and other families who support them adds up to perhaps 25,000. In almost every 25 year term mortgage there are problems, these are not 'people' they are Bahamians....evicting them on this small island is how you accountant bankers view this. These 25,000 Bahamians have no govt agencies yo look into the massive over zealous bankers giving out marginal loans for bonuses or whether these previous applications were done without due care or negligence!! If Gateway can lower interest, reamortize, waiver, lower payments, take guarrantees, raise payments as improvements, lengthen and lower payments interest termsso can others. Trying to get rid of possible fraudelent evidence of negligence or sell outs to redice liability should be raised by govt if Gateway can reorganize to make it work. Im also impresses with another bank who seem to make it work for the customer.
The govt is deeply indebted to these banks ......govt has multi million overdrafts with banks so that the govt workers can be paid....govt has been able to request 65m ? In the morning to borrow to build new PMH wing and by afternoon it is approved.....govt is able to get consortium of local banks to borrow money for ..roadworks...dredge the Harbour....etcetcetc...In return Banks purchase govt Treasury Bills etcetcetc...Mind you it would be interesting to see disclosure of govt officers loans at banks....start with Bank of the Bahamas.... ......noone looks out for the ordinary Bahamian bank customers ...As in the UK , Bahamians need a Financial Conduct Authitity and to be sble to investigate, individuals, organizations etc or as in the USA a Consumer Financial Protection Bureau and Anti Trust laws anti Competition laws. instead we have a Central Bank with the same govt appointing tge Governor And the Board Of Directors.....who will tell you they only deal on a bank to bank basis....No financial representation for the bank customer....and if you have a financial problem its not like the bank overpays you why youre complaining.....youre struggling, in pain, stressed out....and no help to correct any of the banks wrongdoings......
If Gateway another Bahamian mortgsge lender using the same mathematical tables can go to the trouble meet the Bank..... and .....negotiate .....and ..buy mortgages in distress....and.. pay stamp taxes...... and pay another staff......business licence....operate an office....and.....restructure loans ....to make a PROFIT...then any bank can do the same!!!!
its time the govt examine the loan applications to see the ways the aggressive bank loan officers did to get the loans approved to meet their targets for bonuses or pay increase,!! and bankers , accountants.., bank managers sent to jail for fraud if discovered,!!!! 8000 plus Bahamians mortgage customers who defaulted cannot all be wrong!! Common sense is that if all banks changed their mortgage application loan process then something was WRONGwith yheir own methodology.
bogart says...
......go to the root of the problem.?.
We elect leaders based on their Charisma....few technocrats...who become part of the nomenklatura....fixed unyeilding group related just continuing the old ways...noone rocks the boat....
Y
Capitalizing on what we have, sun, sand, sea. We should have had search parties to put together electricity from tidal currents, solar power, use pf sand for glass, solar panels, etc
However the nomenklatura just continues along the same path of collecting the monthly paychecks and voters voting govts out
On Refinery 'a death knell'
Posted 23 February 2018, 10:09 a.m. Suggest removal
bogart says...
Now you talking senseMr Bowe!!
Why blame the past if you are prepared to pump and continue with funding agencies like the Bank of the Bahamas knowing that the Resolve Chairman James Smith himself expressed publictly that the 100 million bailout was paid for assets worth less than half that and even supported by international respected Accounting firm that the 100 millon paid was for assets worth even less than the Chairmans valuation!!!
. And then pour another 166 million??? And now.?.
People need hospital beds. People are in soup lines. Charitiescare collecting food for the needy........
Investigate!! Who gave bad loans!! Why pump public money so some private investors can benefit!! Let market forces prevail.
Sell the bank!! Liquidate!!!
Any prudent business man knows when to exit.
Even the prevoous govts knew when to close the Bahamas Hotel Corporation and exit!!!
Even CEO PM Minnis, Roc wid Doc knows for the govt to get out of the govt constructing less than 100 million worth of low cost homes an the private sector to handle it !!!
On Stop 'looking in mirror' on fiscal blame game
Posted 23 February 2018, 9:34 a.m. Suggest removal
bogart says...
What hyprocracy!!!
The tings yinna shoudda been protesting fer decades and picketing that led to the utter devestation people lining up for bowk a soup, collecting food from doners, banks taking advantage selling homes two middle pages newspapers pages wid nothing but homes for sale...and how many years of slidjng downhill yall done nottin fer da people and now govt trying to help put food in da chillren mout yall now protesting????
What manner a people are you the few..... that want to keep everybodyelse down..?
Swear if Mother Thrresa was to show up to help yinna would be condemning her..?.pulease yinna better fix ya mout and try do betta....
On Refinery 'a death knell'
Posted 22 February 2018, 8:35 p.m. Suggest removal
bogart says...
Crucial fact overlooked is that Roc wid Doc is the CEO and does not have the Minister of Finance portfolio. Given that the PM is not the Finance
Minister should enable more synergies, two heads are better than one to arrinve at the best position along with govt analysts etc. plus in all fairness this undertaking was already in the works by previous govt. And credit is owed to them also.10 ? years working on this project.
Imagination....vision to see success and create conditions to enable it is what is needed.....
Of course protective contractural clauses, performance bond etc is standard...
On PM dismisses Oban Energies concerns
Posted 22 February 2018, 3:16 p.m. Suggest removal
bogart says...
They need to change all the staff in Customer service and staff who have been sitting at desks for ages dealing with the customers. They are fully experienced and have all the answers to justify wrongdoings.
On New police probe at water board
Posted 22 February 2018, 2:28 p.m. Suggest removal
bogart says...
When the bigger bosses visit the local pimps usually does the sip dip to usually cover up and distract from their local shortcomings. Never fails to happen.
The Bahamas being a global player in banking has Banking courses in all fields and reputable banking programs available AbibAcibCPsnumerous and more so than many Caribbean Nations. Most bankers have first degrees znd there are tellers with masters.Commercial Banks advertize and select the best suited snd pay is less than 20k starting. Stupidly ghe authorities take in the few executives Offshore of Private High paying executive pay into the equasion and average bankers making average 65k pa for all.(similarly the authorities add all the billionaires into average salaryincome as the Bahamas having overall 3 or 4th highest income this hemisphers..yes d grade fully correct)
YES on this stupidity reigns
On the primary school d grade concerns doesnt affect bottom line who his HumanResource dept hires. Immigration always complies with financial requests if no Bahamians available.
Being the expert in Sales to sell his banking products....well his loan officers have his high targets and quotas yo meet so yhat can get bonuses yearly salary increase. How you train them and get massive loan defaults...well thats your training and your decision to approve. If ypu can deny many now you could have denied before. The customer may be illeterate but its your bank trained loan officer, your supervisor, your bank traoned Credit Risk Officer and your headquarters who approves the illiterate customer who does not qualify. its very simple maths to verify basic concept ptacticed everyday....when ones does potty one makes sure that there is enough toilet tissue!!! You and your staff hold the decisions in hiving the loans.
Detrimential Mortgage and lendong Laws actually favour the bank with unquestionably the bank always having the very best battery of lawyers on call to harrass the poor customer all the way to Judgement and stupidly no proper bancruptcy laws. Customers always loose.
Blame uourselves for uour shortcomings, losses and staffing. On curruption well ots no different fron other jurisdictions.You should not have listened to the pimps or sipsip (Bahamian gossip)
On RBC executive retires after blasting education of nation
Posted 21 February 2018, 9:48 p.m. Suggest removal
bogart says...
...i still am sctraching my head on this....
Govt trying to create realistically likely priced land 30,000 and elimiinating stamp duties on building materials to get homes around 80,000??. to 120,000 ??for qualified homeowner applicants......when the current average homesare around 180,000 upwards
Accountant banker wants the govt to have the opportunity to provide first-time homeowners into existing repossessed homes at affordable prices by buying existing repossessed homes market valued valued 180,000 upwards at prices for yhose customers the govt is trying to help first time buyers...80-120k?? Range
question....will not those whom the govt has evicted along with their families now be on yhe road trying to find lodgings???
....after the original owner has paid downpayment, lawyers fees, maintenance, capital appreciation on their investments worth 180,000 or more....question ...why would govt following the accontant banker line of reasoning want the original owner to have his home repossessed at a low value so the govt target applicant can qualify??..naughyy..naughty...naughty....sounds likr defrauding the origonal homeowner to make the home low costing for the lowet qualifying govt applicant to qualify....
On Gov't urged: Focus on distressed homes for housing recovery
Posted 21 February 2018, 7:51 p.m. Suggest removal
bogart says...
......what a banker!!!! .....Mr. Bowe..."some people will lose their homes, but equally it will be an opportunity for people coming into the houusing market to have affordable homes."
This is an 80 sq mile island and daily getting smaller as new construction occurs. Supply will get smaller and demand rise with prices beyond the reach of many as what the PM Minnis and govt is trying to assist with. All govts do this.
As the banker accountant he should know that 4,000 mottgage accounts are ususlly joint husband wife. 4,000 means 8000 people families, kids, parents, handicapped, ill, elderly and other families who support them adds up to perhaps 25,000. In almost every 25 year term mortgage there are problems, these are not 'people' they are Bahamians....evicting them on this small island is how you accountant bankers view this.
These 25,000 Bahamians have no govt agencies yo look into the massive over zealous bankers giving out marginal loans for bonuses or whether these previous applications were done without due care or negligence!! If Gateway can lower interest, reamortize, waiver, lower payments, take guarrantees, raise payments as improvements, lengthen and lower payments interest termsso can others.
Trying to get rid of possible fraudelent evidence of negligence or sell outs to redice liability should be raised by govt if Gateway can reorganize to make it work. Im also impresses with another bank who seem to make it work for the customer.
On Gov't urged: Focus on distressed homes for housing recovery
Posted 21 February 2018, 6:41 p.m. Suggest removal
bogart says...
The govt is deeply indebted to these banks ......govt has multi million overdrafts with banks so that the govt workers can be paid....govt has been able to request 65m ? In the morning to borrow to build new PMH wing and by afternoon it is approved.....govt is able to get consortium of local banks to borrow money for ..roadworks...dredge the Harbour....etcetcetc...In return Banks purchase govt Treasury Bills etcetcetc...Mind you it would be interesting to see disclosure of govt officers loans at banks....start with Bank of the Bahamas....
......noone looks out for the ordinary Bahamian bank customers ...As in the UK , Bahamians need a Financial Conduct Authitity and to be sble to investigate, individuals, organizations etc or as in the USA a Consumer Financial Protection Bureau and Anti Trust laws anti Competition laws.
instead we have a Central Bank with the same govt appointing tge Governor And the Board Of Directors.....who will tell you they only deal on a bank to bank basis....No financial representation for the bank customer....and if you have a financial problem its not like the bank overpays you why youre complaining.....youre struggling, in pain, stressed out....and no help to correct any of the banks wrongdoings......
On Gov't urged: Focus on distressed homes for housing recovery
Posted 21 February 2018, 5:59 p.m. Suggest removal
bogart says...
What nonsense!!!
If Gateway another Bahamian mortgsge lender using the same mathematical tables can go to the trouble meet the Bank..... and .....negotiate .....and ..buy mortgages in distress....and.. pay stamp taxes...... and pay another staff......business licence....operate an office....and.....restructure loans ....to make a PROFIT...then any bank can do the same!!!!
its time the govt examine the loan applications to see the ways the aggressive bank loan officers did to get the loans approved to meet their targets for bonuses or pay increase,!!
and bankers , accountants.., bank managers sent to jail for fraud if discovered,!!!! 8000 plus Bahamians mortgage customers who defaulted cannot all be wrong!! Common sense is that if all banks changed their mortgage application loan process then something was WRONGwith yheir own methodology.
On Gov't urged: Focus on distressed homes for housing recovery
Posted 21 February 2018, 3:48 p.m. Suggest removal