In the real Banking world, if a securitized loan goes delinquent, the collateral is repossessed and sold off and the funds applied to the loan balance. if the monies realized from the sale are insufficient to totally liquidate the loan, the individual or individuals who were signatures on the loan are responsible for payment of the deficiency balance. Why are these individuals not taken to court and have them declared insolvent, and liquidate all of their assets to recover the loan in full. why is it that the poor people of the Bahamas now must pay for these financial scumbags to go free as a birdie. Since the Bahamian people have to pay to carry the debt service on these worthless paper loans, every Loan approval has a memo signed of by the loan officer Management and in some cases the board of directors stating the purpose, how it will be paid off and maturity date and referrals and recommendations.These documents should be made public. It appears that the Board of Directors, the management and Loan officers of this bank did the Bahamian people a gross disservice and should be barred from rendering any kind of service in the Bahamas Financial Industry again.
If the law provide that the PM can set a date for all delinquent or incomplete disclosures from past and current MPs and Senators in this case June 30 2017 and irregardless if the chairman just remembered that his term expired 0n June 30 2017, if the disclosures have not been received and completed, then the names need to be disclosed and sent to someone other that Carl Bethel to be prosecuted period. PM Minnis need to establish now and here that what he says what he means Period.
Show copies of the payments and if cheques with the banks cancellation. Funny the Chairman of the Board or any board member did not make that statement, seem after the facts..
If the deal for the purchase of the property between Perfect Luck and Chow Tai Fook is contingent upon the concessions given by the previous government and the current government review and withdraw the concessions including the Casino License, Chow Tai Fook will probably cancel the deal.
Apparently the unsealed deal is between cexim's perfect luck ( fitting name: $1.2 Billion of Bahamian Asset and $800 Million of Izmirtian,s money) chow tai fook enterprizes and the bahamian government. chow tai fook to purchase the property from perfect luck ( upon the completion of the work on the property estimated to be sometime in 2018). So the property is currently owned by Perfect Luck. In the meantime Chow Tai Fook had been granted a Casino License to operate the Casino at the property. What are the sealed concessions that the Bahamas have given to Chow Tai Fook to purchase the property in 2018?? The people should know before the sale is signed and sealed. The government need to treat the Bahamian people with more respect and stop insulting the peoples intelligence period. its the people.s time
" Nothing wrong with the Baha Mar Deal ". The deal was negotiated by members of government who negotiated store leases for their family members and friends and Brokerage contracts for family members" blatant conflict of interest" at the cost of over $1.2 Billion of current and future Bahamian citizens expense and you have a foreign company knowing that it was a conflict of interest with corrupt government members. and its just" business as usual'. Our International business reputation is intact. The $100 million for tax and VAT that should have been paid into the Treasury was however used to pay of Baha Mar staff and Bahamian Vendors, But was told that it was a gift from the Bank. The Message need to be sent to all foreign investors that the Bahamas will not tolerate this kind of Conflict of Interest and corruption commencing May 10 2017 by having all the leases and business contracts of all ,family, friends and lovers of any person involved in negotiating this Baha Mar deal cancelled and prosecuted to the fullest extend of the law.
Seem like we have two (2) separate governments going on in our Bahama land. One elected by the people based on campaign promises and one appointed with a different agenda. its the peoples time!!! Maybe???
screwedbahamian says...
Like a cancelled cheque, yesterday's news, Lets move forward and upward together. its the people's time !!!!
On 'FNM criticised in opposition- but slow with appointments'
Posted 4 July 2017, 6:44 p.m. Suggest removal
screwedbahamian says...
Alfalfa, Agree but may be toooo much for our new AG.
On New warning over bad bank debts
Posted 4 July 2017, 3:41 p.m. Suggest removal
screwedbahamian says...
In the real Banking world, if a securitized loan goes delinquent, the collateral is repossessed and sold off and the funds applied to the loan balance. if the monies realized from the sale are insufficient to totally liquidate the loan, the individual or individuals who were signatures on the loan are responsible for payment of the deficiency balance. Why are these individuals not taken to court and have them declared insolvent, and liquidate all of their assets to recover the loan in full. why is it that the poor people of the Bahamas now must pay for these financial scumbags to go free as a birdie. Since the Bahamian people have to pay to carry the debt service on these worthless paper loans, every Loan approval has a memo signed of by the loan officer Management and in some cases the board of directors stating the purpose, how it will be paid off and maturity date and referrals and recommendations.These documents should be made public. It appears that the Board of Directors, the management and Loan officers of this bank did the Bahamian people a gross disservice and should be barred from rendering any kind of service in the Bahamas Financial Industry again.
On New warning over bad bank debts
Posted 4 July 2017, 3:09 p.m. Suggest removal
screwedbahamian says...
If the law provide that the PM can set a date for all delinquent or incomplete disclosures from past and current MPs and Senators in this case June 30 2017 and irregardless if the chairman just remembered that his term expired 0n June 30 2017, if the disclosures have not been received and completed, then the names need to be disclosed and sent to someone other that Carl Bethel to be prosecuted period. PM Minnis need to establish now and here that what he says what he means Period.
On Disclosures left ‘in the air’
Posted 3 July 2017, 1:05 p.m. Suggest removal
screwedbahamian says...
Show copies of the payments and if cheques with the banks cancellation. Funny the Chairman of the Board or any board member did not make that statement, seem after the facts..
On Mortimer paid $5m airport rent under last Govt
Posted 30 June 2017, 7:41 p.m. Suggest removal
screwedbahamian says...
If the deal for the purchase of the property between Perfect Luck and Chow Tai Fook is contingent upon the concessions given by the previous government and the current government review and withdraw the concessions including the Casino License, Chow Tai Fook will probably cancel the deal.
On Govt: No reply yet to Izmirlian’s plea
Posted 28 June 2017, 1:56 p.m. Suggest removal
screwedbahamian says...
Apparently the unsealed deal is between cexim's perfect luck ( fitting name: $1.2 Billion of Bahamian Asset and $800 Million of Izmirtian,s money) chow tai fook enterprizes and the bahamian government. chow tai fook to purchase the property from perfect luck ( upon the completion of the work on the property estimated to be sometime in 2018). So the property is currently owned by Perfect Luck. In the meantime Chow Tai Fook had been granted a Casino License to operate the Casino at the property. What are the sealed concessions that the Bahamas have given to Chow Tai Fook to purchase the property in 2018?? The people should know before the sale is signed and sealed. The government need to treat the Bahamian people with more respect and stop insulting the peoples intelligence period. its the people.s time
On Govt: No reply yet to Izmirlian’s plea
Posted 28 June 2017, 12:18 p.m. Suggest removal
screwedbahamian says...
" Nothing wrong with the Baha Mar Deal ". The deal was negotiated by members of government who negotiated store leases for their family members and friends and Brokerage contracts for family members" blatant conflict of interest" at the cost of over $1.2 Billion of current and future Bahamian citizens expense and you have a foreign company knowing that it was a conflict of interest with corrupt government members. and its just" business as usual'. Our International business reputation is intact. The $100 million for tax and VAT that should have been paid into the Treasury was however used to pay of Baha Mar staff and Bahamian Vendors, But was told that it was a gift from the Bank. The Message need to be sent to all foreign investors that the Bahamas will not tolerate this kind of Conflict of Interest and corruption commencing May 10 2017 by having all the leases and business contracts of all ,family, friends and lovers of any person involved in negotiating this Baha Mar deal cancelled and prosecuted to the fullest extend of the law.
On Nothing ‘unusual’ in Baha Mar papers
Posted 25 June 2017, 7:29 p.m. Suggest removal
screwedbahamian says...
They were not given the five(5) senses test before being appointed. No they were waiting to be blessed with their gifts.
On Miller: Former Deputy PM was in 'lose-lose' situation
Posted 24 June 2017, 10:02 a.m. Suggest removal
screwedbahamian says...
Seem like we have two (2) separate governments going on in our Bahama land. One elected by the people based on campaign promises and one appointed with a different agenda. its the peoples time!!! Maybe???
On AG distances office from PLP misfeasance allegations on social media
Posted 24 June 2017, 9:50 a.m. Suggest removal