• Steupsss
    Wunna always pontificating on the ‘rules of albino-land’ when the moot is the shiite that going on in brass bowl land.
    This has NOTHING to do with the rules of banking in Canada. the USA ,or even Barbados. it is about the REALITY of average Bajans accessing funding for business in brassbados. It only takes two or three crooks, well placed in a bank, to create a reality here, that defies all the rules and regulations in place.
    No one in their right mind would suggest that an international bank would have POLICIES that are clearly discriminatory. …or that they would hand out money wily nilly.

    The problem is that there are elements at work who use the bank to exploit the weaknesses of small business persons who must of necessity expose their achilles heels to these banks. Most victims are then made to feel ashamed because of idiotic comments such as those we see from Sargeant, (that they are to blame for being poor businesspeople) and this allows the crooks to get away with the shiite.

    No doubt the same thing happens in Canada and elsewhere, it just does not go on, and on, and on, ….because the regulators there are actually competent, are not related to politicians, and are themselves under proper supervision and scrutiny….. unlike here with our shiite central banker who cannot even grasp the basis of currency pegging.


  • @Bushie
    The banking system isn’t as different as you might think.

    The issue is perspective. IF the bank (FI) doesn’t lend to persons without an AAA+ credit rating their business will stagnate. And in little Bim they will be accused of not ‘supporting the local economy’. It happens in all the small towns in Canada too, especially the farmers. The ‘misfortunes’ of which you speak, you seem to be convinced are intentional. Having a loan go bad is NEVER in the banks best interest. The bank itself has minimal control over the day to day decisions made by the company or individual.

    If you wish to extrapolate your theory, just look at credit cards. Even in today’s historically low interest rate environment, CC debt is still at 18%+ compounded daily. Anybody can get a credit card, unless they have declared bankruptcy (my point an official bad mark on their credit history). And people “lie” on all kinds of things to get CC’s. It becomes a matter of balance, making money vs losing money. And appreciate when a CC goes bad, and the customer owes say $7000, the majority of that is interest. The actual hard loss is only what the bank paid on the purchases made on the CC.

    If they don’t have defaulters, they don’t have a business. Customers who pay the full amount on time generate no income for the CC issuer.

    There is no question all these products (loans) are going to hit the ‘poorer’ customers hardest. Or those without much financial savvy.


  • @ Northern Observer
    Having a loan go bad is NEVER in the banks best interest.
    You still miss the point.

    Having CAHILL was never in the country’s best interest…
    ….neither is SBRC
    … The Desal scam
    … Sandals,
    ….Four Seasons,
    …..the shiite that was done to the Andrews sugar factory
    …nor any number of other ‘projects’ undertaken by politicians.

    But “it’s an ill wind that blows no one any good…”

    You can rest assured that in EACH of the above cases, and in many of the bank defaults of which we speak, certain elements make a killing.

    Some even show charity by making their mothers very rich….


  • Have people here never heard about disaster capitalism?

    Could it be merely cyclic that we always have these ups and downs, at the personal, national, global levels?

    There has never been any better way for banks to make money than through disasters.


  • I know a guy who sold a 100 unit apt building for a buck because he wrote off so much interest that the building it was virtually worthless because of the govt recapture on sale. Kids today get all types of parental advice but the best would be to get an acct as soon as they start working.


  • lawson November 25, 2016 at 7:53 AM
    Not forgetting the mega-churches that are now springing up all over Barbados, some of which are encouraging the elderly among their flock to take out loans and reverse mortgages on their properties. Like the fellow who bought a million dollar church with loans secured by some of his followers, then legged it off to the States, leaving these people in Shiite Street,and I don’t mean Rockley or Worthing. Or the doctor/pastor /senator who bragged that he had spent some $5million building his mega- church , and did not borrowed a cent from the bank. There are vultures at every street corner in Barbados. Three -card brag men come in many different suits.


  • Bush Tea November 25, 2016 at 3:14 PM

    etc, etc, etc

    What has happened to the Del Mastro/Deltro solar panel plant shipped from Arizona to Bridgetown harbour in October 2015.


    “MEI Rigging and Crating’s Arizona team executed the rigging teardown and disassembly of the solar line and other equipment, crated the production line, and blocked and and braced it on an ocean container headed for Barbados. The Deltro Electric job used a total of 30 high cube containers (tall shipping containers) and 4 flatbed trucks to transport the disassembled solar module manufacturing line, along with everything else in the building. There were a total 55 skids and 15 crates used to package up all the equipment from the line. The largest size crate was for the Framing Station with dimensions of 268 x 147 x 79. The heaviest crate was the Laminator which weighed in at 32,000 lbs (crate & tool) and measured 221 x 137 x 118.”

    That is a lot of storage charges.



  • Col what would you pay for an extra minute on this planet to say goodbye to family, and have life ever after that is what these snake oil men are selling. We should be smarter the older we get ……….Life is a good teacher but it kills all its pupils


  • Due Diligence November 25, 2016 at 5:40 PM #
    Perhaps they have already profited by some tax write off back in the States.
    Not known to many, some years ago and American Company, brought in an old bottling plant ,set up production in one of the vacated factory units in Newton Industrial Estate. They produced plenty cans of Classic Cola, but not a single can was exported, or officially , sold locally. Some weeks later, with a warehouse packed with coke , the operators who by this time were back in the States , phoned the caretaker/watchman and instructed him to dump the whole lot in the land fill.
    The old bottling plant was dismantled, and probably shipped to another island to continue the scam.
    We in the Caribbean are easy prey

    Liked by 1 person

  • The way we were. BLP-DLP united by a bottle a rum (or a glass of champagne ). lol



  • @BushT
    you are fairly logical fella, and now you mixing up a bunch of political extravaganzas with the operation of a large private entity? You know one is for profit and the others operate at a loss.


  • Bush T is clearly out of his depth in understanding the relationship between Banks and their clients so he resorts to vague pronouncements about “‘two or three crooks well placed in a bank”. In his futile attempt to locate a villain he hints of a conspiracy by these crooks to defy rules established by their employer. When all else fails he resorts to accusations of nefarious activities by “ elements at work who use the bank to exploit the weaknesses of small business persons”. He fails to understand that bad loans (the Banks would term them non- current loans) reflect poorly on the individual(s) who place them on the books. They may not result in someone being dismissed (unless there are too many in their portfolio) but they will affect their raises, bonuses and diminish your chances of being promoted. No Peter Principle there.

    He portrays Bajan small business owners as being poor business persons who are taken advantage of by bankers, perhaps those small business people should follow his advice and avoid Banks, there is always Microcredit.



  • @ Sargeant
    You are so clueless…. 🙂
    You are lucky to have made it past corporal.

    Anyway, …have the last word.
    You are most likely being genuine, since you probably don’t have the kind of money that would expose you to the issues under discussion.

    Poverty is a good defence against robbery.
    ha ha ha


  • Officially, one will see numerous reports that approx 9.5 million US households suffered to foreclosures and short sales after 2007. I think that number is low, because short sales (defined…a sale of real estate in which the net proceeds from selling the property will fall short of the debts secured by liens against the property) are never known in full. I guesstimate the total closer to 13 million.

    Now appreciate, every person directly affected has family and friends. I need only direct you to the outpouring on BU towards Ms Riley Fox and the FI involved. Ya think they were pissed?

    And a bunch here on BU wonder why the Democrats lost the election? They did well to get that close.

    The US government bailed out several of the same FI’s who were involved in creating the mess (remember “too big to fail”?) but how many were ever charged? Or convicted? This despite paying very quiet, but frequent fines or penalties in the Billions, without any “admission of guilt”. They did it because they wanted to??? Right. Within two years they are back to collecting 6 figure salaries and bonuses; why? They were worth it? No, because the system had no consequences. They even bailed out several large employers.

    You think the folks who lost all their money (equity) in those deals forgot? Then they lay out an economic policy of historically low interest rates. Have you heard the song and the words? People will be able to borrow again, and this will lead to “investment” and will get the economy growing, and this growth will generate the jobs and taxes to repay the debts. You still waiting for that?….well me too.


  • @Northern

    You seem to link the financial crisis circa 2008 at the feet of the Democrats it didn’t start under Obama’s watch he inherited it, if you are hinting that they lost because none of the bankers were sent to jail because of their actions the only person that the Republican electorate wanted to send to jail was Hillary. I agree that people should have been prosecuted but the Executive thought that prosecution would tie up the Justice Dept. for years and the efforts of the Justice Dept. under Holder/Lynch would be better focused on other matters which proved to be all for naught given who will now be in charge of that Dept.



  • Lest you think that only US FI’s were bailed out here is some bedtime reading:

    NB. This was a Conservative Gov’t led by Harper



  • Bush Tea wrote ” Poverty is a good defense against robbery.”

    good one Bushie.


  • Sarge
    Did I say the Democrats began it? Failure to prosecute showed the people they were no different to any prior administration, and treated millions of financially compromised citizens with disrespect compared to how they treated the bankers. That pissed off alot of people. Reasons like “failure to clog the court system” is BS. They spent how many trillion in debt and couldn’t hire 200 lawyers and CPA’s?

    Mine is not a left-right, Dem-Rep, Lib-PC-NDP, DLP-BLP argument. It is until collectively something is done to make people responsible for their actions little will change. The current US administration had the choice and chose to do nothing.

    Canada is in no sweet position? Forget the Federal accounts, the provincial, town and city accounts are in a mess.


  • Fidel Castro dead at age 90.


  • its the moment the small islands have been dreading; I wonder if Raoul can keep the lid on Cuba or will the people have two chickens in every pot. If they really open their doors to tourism and investment look out carribean
    Hants living up north you should know the value of a heat pump. You know being able to recover heat even in the coldest temperatures because there is a difference of 10 degrees of heat between =20 and -30 . So if you think poverty is a good defence I pray you dont run into someone worse off than you
    Canada may be down but we have something to sell resources,tourism,knowledge I like our chances compared to the rest of the world. Canada voted one of the best places to live ottawa voted one of the best places in canada dont just trust me 150000 somalies cant be wrong.


  • Pingback: Response by CIBC First Caribbean International Bank to the Offer to Buy the Property of Ann Riley-Fox | Barbados Underground

  • Does this sound like someone in the bank, or his/her friends, or the lawyer(s) offices might just have made a good deal under the counter to purchase same said property. It does happen. Believe it.


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