Becks. Either we as a Country upgrade our financial services to accommodate electronic banking (something I doubt we will do) or we suffer with continue to suffer from high levels of violent crime related to businesses and consumers dealing in cash.
Unfortunately this is not a high priority of the government or the financial regulators. They are more interested in bailing out BoB, putting PLPs in jail for 1 day, and essentially accomplishing nothing of lasting substance in the first 100 days.
You would think in this day and age businesses would stop accepting cash and if they did they would deposit each night.
Parents should deposit school fees directly into the bank and bring the despot slip to school.
Electronic banking should be the highest priority of the FNM government and the financial regulators.
Instead they are playing musical chairs between the MOF and Central Bank. And the Securities regulator is busy yapping about Ponzi schemes they are powerless to shut down.
The police are as likely to crack down on the ponzi scheme as they did the numbers houses before they became a legal rip off scheme for the masses.
My understanding is that the ponzi scheme has a business license. Under our "rule of law" there doesn't seem like there is anything wrong with promising someone to triple their investment in one week. No one is protecting the uninitiated. In the Bahamas its "all for me baby" and God help us all.
The variance in performance of retail banks in the country warrants further study. Why is it that Commonwealth Bank achieves record profits and BoB achieves record losses? Why is FINCO's results so choppy and Fidelity's so consistently improving.
Is it that their management skills are just that much better?
We really need to terminate PowerSecure, the foriegn operators of BEC. What a waste of $5 million a year plus $1 million bonus plus $2 million in frauds. Both administrations just love foreigners and wouldn't give Bahamians a chance to buy BEC.
A non government poll (with similarities to a referendum) should take place sponsored by civil society with 3 questions put to Bahamian's who are registered to vote.
(1) Should the peoples "No" vote to the public pole made under the PLP's pretense of a referendum be honored as it relates to gambling in the Bahamas.
(2) Should parliament move legislation to out law web-shops.
(3) Should the government of the Bahamas create a national lottery run by the government of the Bahamas that will benefit education.
If the majority answer "Yes" then the FNM should move, and if such legislation is passed,] in parliament, then move a true referendum should be immediately held to get rid of web-shops and implement a national lottery.
Judging from the FNM's push to jail thieves it appears that the police can actually investigate and charge criminals with illegal acts. I never thought this would happen under any administration.
The biggest theft at hand today is the poisoning of those least in our society who are able to help themselves being robbed by the over 400 web-shops scattered through our poorest neighborhoods in every inhabited island.
Any word on the missing $5 million from BEC. Any word from the forensic audit? Or will this just be quietly pushed under the rug? Like everything else at BEC.
Don't tell me everything is OK. I may have to remain black and poor but please don't talk to me as if I'm stupid and ignorant.
FNM need to fire the entire board, the foreigners and the management. How much more stealing can we bear before we are bankrupt!
Let's organize the signatures of 100,000 Bahamian demanding Parliment vote on (1) legislation to outlaw numbers including jail time for anyone selling numbers and (2) implementation of a state lottery.
Once the legislation has passed a referendum should occur with 2 simply questions (1) should numbers be outlawed and (2) should there be a state lottery.
This is needed as the PLP did not follow the will of the people in the numbers lottery.
observer2 says...
Also, Exchange Controls. Get rid of them. Banks take 0.5% of every US dollar converted to Bahamian dollars.
On Insurance chief: KYC regime ‘huge obstacle’ to economic growth
Posted 31 August 2017, 5:32 p.m. Suggest removal
observer2 says...
can also be done online
On ‘Suffocating’ KYC causes lawyer 5-year bank wait
Posted 31 August 2017, 11:19 a.m. Suggest removal
observer2 says...
Becks. Either we as a Country upgrade our financial services to accommodate electronic banking (something I doubt we will do) or we suffer with continue to suffer from high levels of violent crime related to businesses and consumers dealing in cash.
Unfortunately this is not a high priority of the government or the financial regulators. They are more interested in bailing out BoB, putting PLPs in jail for 1 day, and essentially accomplishing nothing of lasting substance in the first 100 days.
On Armed trio hunted after safe snatch
Posted 30 August 2017, 9:47 a.m. Suggest removal
observer2 says...
You would think in this day and age businesses would stop accepting cash and if they did they would deposit each night.
Parents should deposit school fees directly into the bank and bring the despot slip to school.
Electronic banking should be the highest priority of the FNM government and the financial regulators.
Instead they are playing musical chairs between the MOF and Central Bank. And the Securities regulator is busy yapping about Ponzi schemes they are powerless to shut down.
On Armed trio hunted after safe snatch
Posted 30 August 2017, 8:26 a.m. Suggest removal
observer2 says...
The police are as likely to crack down on the ponzi scheme as they did the numbers houses before they became a legal rip off scheme for the masses.
My understanding is that the ponzi scheme has a business license. Under our "rule of law" there doesn't seem like there is anything wrong with promising someone to triple their investment in one week. No one is protecting the uninitiated. In the Bahamas its "all for me baby" and God help us all.
On Scam warning: Police alert as second scheme fails
Posted 27 August 2017, 12:23 p.m. Suggest removal
observer2 says...
The variance in performance of retail banks in the country warrants further study. Why is it that Commonwealth Bank achieves record profits and BoB achieves record losses? Why is FINCO's results so choppy and Fidelity's so consistently improving.
Is it that their management skills are just that much better?
On FINCO suffers $10.9 million ‘reversal’ into losses
Posted 22 August 2017, 4:14 p.m. Suggest removal
observer2 says...
We really need to terminate PowerSecure, the foriegn operators of BEC. What a waste of $5 million a year plus $1 million bonus plus $2 million in frauds. Both administrations just love foreigners and wouldn't give Bahamians a chance to buy BEC.
On BPL CEO Pamela Hill fired
Posted 21 August 2017, 2:12 p.m. Suggest removal
observer2 says...
A non government poll (with similarities to a referendum) should take place sponsored by civil society with 3 questions put to Bahamian's who are registered to vote.
(1) Should the peoples "No" vote to the public pole made under the PLP's pretense of a referendum be honored as it relates to gambling in the Bahamas.
(2) Should parliament move legislation to out law web-shops.
(3) Should the government of the Bahamas create a national lottery run by the government of the Bahamas that will benefit education.
If the majority answer "Yes" then the FNM should move, and if such legislation is passed,] in parliament, then move a true referendum should be immediately held to get rid of web-shops and implement a national lottery.
Judging from the FNM's push to jail thieves it appears that the police can actually investigate and charge criminals with illegal acts. I never thought this would happen under any administration.
The biggest theft at hand today is the poisoning of those least in our society who are able to help themselves being robbed by the over 400 web-shops scattered through our poorest neighborhoods in every inhabited island.
On Forensic audit for gaming board payouts
Posted 18 August 2017, 4:03 p.m. Suggest removal
observer2 says...
Any word on the missing $5 million from BEC. Any word from the forensic audit? Or will this just be quietly pushed under the rug? Like everything else at BEC.
Don't tell me everything is OK. I may have to remain black and poor but please don't talk to me as if I'm stupid and ignorant.
FNM need to fire the entire board, the foreigners and the management. How much more stealing can we bear before we are bankrupt!
On BPL chief’s comments ‘an insult to every Bahamian’
Posted 11 August 2017, 1:22 p.m. Suggest removal
observer2 says...
Let's organize the signatures of 100,000 Bahamian demanding Parliment vote on (1) legislation to outlaw numbers including jail time for anyone selling numbers and (2) implementation of a state lottery.
Once the legislation has passed a referendum should occur with 2 simply questions (1) should numbers be outlawed and (2) should there be a state lottery.
This is needed as the PLP did not follow the will of the people in the numbers lottery.
On Chamber executive's gambling 'scourge' fear for Out Islands
Posted 4 August 2017, 5:24 a.m. Suggest removal