Tuesday, July 2, 2019

The Plunder of Bank of Bahamas (BOB)

By Dennis Dames:

I am always saddened and angered when I think, hear, or talk about our beloved Bank of Bahamas (BOB). It has become the self-inflicted scorned legacy of the last three administrations; inclusive of the present regime – while the bank continues on life support.

It is a true reflection and revelation of the overt black misrule and political corruption in The Bahamas - in our lifetime. The Hubert Ingraham and Perry Christie governments of 2007 and 2012 respectively, are where the most damage was done to the looted Bahamian bank, and Bahamian pride.

The credit policy was simply reduced to plunder: Lend to our lovers, family and friends at all costs. The Bahamian people are now left holding the bag while the hemorrhaging of BOB continues.

Absent and prudent political and financial leadership on the part of Ingraham, and Christie have resulted in a Bank of Bahamas which shames us all today. The lost is too great to ignore.

A significant lot of the VAT money to date has gone into keeping the raped Bank of Bahamas afloat, and a great lot more will be used to purchase hundreds of millions of dollars of more toxic loans from the frail bank – by the Minnis leadership.  To add insult to the ongoing injury, the present Prime Minister-Minnis, has offered his two predecessors national hero status and recognition.

Bank of Bahamas (BOB) continues to be gravely ill. All because of the tradition of inept black and arrogant political leadership in The Bahamas.

God help us.