Walter Blackman Comments on the 15th Actuarial Review of the NIS of Barbados – Misallocation of Human Resources

Walter Blackman – Actuary and CBC Talk Show host

The 15th actuarial review of the Barbados NIS is special in that the report was written at the end of the first 50 years of the scheme’s existence. This review therefore gives us an opportunity to see to what extent the NIS reflects the negative features and characteristics of the Barbadian society and economy which have emerged since independence.

The single biggest contributor to the downward slide and decline of Barbados, as a nation, is the misallocation of its human resources. From top to bottom, in private and public, we see and feel the deleterious effects of persons holding critical positions who have no basic understanding of what their roles are, and who are far less interested in knowing how to perform them. Whilst no attention is paid to effectively performing the job, every effort is put into extracting the essence and perquisites out of the position on one hand, and using every ounce of power associated with it to achieve personal and, very often, nationally damaging ends, on the other.

Over the last 50 years, some individuals have created a “science” out of leveraging their positions for social, political and economic advancement. This “science” has been carved from a litany of fraudulent practices which have left both the Barbadian government and taxpayer impoverished and bewildered. Today, too many government departments are owed hundreds of millions of dollars by individuals and companies possessing the capacity and willingness to pay. Payment would be forthcoming, if only a minimal amount of pressure were applied to the delinquent offenders. However, no effective pressure is ever applied. What is responsible for this? Corruption?

This urge, on the part of the Barbadian individual, to focus solely on the “sweets and power” of an office or position, and not on its function, has resulted in a plethora of unenlightened, retrogressive minds spending most of the working day trying to identify people who are more qualified, or perceived to be “brighter” or more talented than they are, and then viewing them as threats to be despised, sidelined or destroyed.

Gripped by feelings of insecurity, and conscience-ridden because of their glaring lack of ability, these retrogressive minds then proceed to handpick surrogates who must be just as dull, or duller than they are, so that they can shine. Fifty continuous years of this practice have succeeded in creating a core of mediocrity at the centre of almost everything Barbadian. The corrosive nature of this phenomenon has become so pervasive, that many of our major national institutions, held firmly in its grasp, are now spiraling uncontrollably towards moribundity.

When local talent is not being misallocated and suffocated on the home front, it is being ruthlessly and stupidly sidestepped in favour of utilizing foreign individuals and entities. Some of these foreign individuals and entities, despite having dark and shady backgrounds, have been able to secure multi-million dollar business deals and contracts with successive governments. How can a small country like Barbados, along with its institutions, develop and grow if successive governments continue to discriminate against its citizens and deliberately pursue a policy of enriching aliens? What fuels this glaring propensity to keep Barbadians down by marginalizing and disregarding their talents?

As a country, Barbados is now unable to withstand the slightest scrutiny by independent international agencies. Public administration in our country has become so woeful and pathetic that, according to Morneau Shepell Ltd, the foreign actuarial firm which produced the report, “in 2016, the IMF raised concerns about data inconsistencies and the credibility of some national statistics.” This is a shameful pronouncement on the state of our national collective incompetence.

The NIS is a national institution which affects almost every Barbadian because of the universality of its coverage. To achieve its long-term national objectives, the NIS, during its first 25 years, ought to have been equipped with skilled, well-trained employees who could help conceptualize, map, and automate all of the processes involved in registering and covering workers, collecting premiums, paying benefits and administrative expenses, producing financial statements, and generating credible data for use in actuarial assumptions and demographic projections. Having such a cadre of employees was extremely vital to the long-term viability of the NIS.

The NIS, specifically the part of it that was born as a department of central government, was breastfed from infancy with the milk of backward-thinking civil service attitudes and human resource limitations. Over time, heavy political interference with and influence over the civil service recruitment process, and over the day-to-day functioning and operations of some departments, took its toll and retarded the growth of the institution. Lax management practices and the expected mishandling of contributions made a bad situation even worse.

After 50 years of operation, instead of having an efficient, fully automated system in place, the NIS now finds itself in an embarrassing position where Morneau Shepell Ltd had to alert anyone reading the 15th actuarial report that the preparation of the report was delayed. It is instructive to note the explanation given by the foreign actuarial firm for the report’s delay:

“Data issues delayed the preparation of this report and also affected the quality and reliability of some data that was provided.”

“…some statistical data were incomplete and financial statements unaudited..”

“The delayed preparation of this report is due to administrative system issues which affected the collection of timely and accurate demographic and financial data.”

The foreign actuaries went on to hint to Barbadians and policymakers that “….these data issues may influence specific rates and years when key events are projected to occur…”

The anguish and heartbreak resulting from this unhealthy state of affairs will be felt by only a few Barbadians. This is so because the bulk of the population has no idea of the amount of money which has been spent by NIS on computer hardware systems and software packages. Tales have been told by NIS “insiders” about money “flowing like a burst pipe” into the hands foreign consultants and retailers for the purchase and setting up of computer systems and associated software packages. Despite the outlay of massive sums of money, which have contributed to the depletion of our foreign reserves, the NIS has not been able to produce a seamless automated system to ensure that credible elements of data are produced, and that benefits are paid in an accurate and timely manner. As a first step toward transparency, Barbadian taxpayers need to demand that an official enquiry be made into the amount of money spent by the NIS on computer hardware and software since 1980. The analysis should show who the payees are, and how much was expended in foreign currency. In this area, something appears to be rotten in the state of Denmark.

There is one slight detail in the report which many readers would tend to overlook. According to Morneau Shepell, outstanding NIS contributions at December 31, 2014 totaled $224 million. However, at a press conference held in early September 2017, Mr. Ian Carrington, Director of NIS, announced that the current amount of arrears owed to the scheme was $650 million (cf Loop News, September 2, 2017). So, is it possible that in less than three years, outstanding contributions to the NIS had increased by $426 million? This seems highly unlikely.

The $650 million figure becomes slightly more palatable after one studies page 9 of the actuarial report, which lists, in part, the amount of un-invested assets at December 31, 2014:

Contributions receivable 223.7 million

Accounts receivable 220.3 million

This approach suggests that “total receivables” of $444 million at December 31, 2014 grew to $650 million at August 31, 2017. This represents an increase of almost 50% over the period, and serves to highlight a situation that is downright unsatisfactory. This clear evidence of incompetence and general refusal on the part of civil servants to collect revenue for government explains why taxpayers’ disposable income is dwindling at such an alarming rate.

If nothing else, the 15th actuarial report shows that there is an urgent need to reform the NIS. The institution needs to be extricated from the grips of the civil service and its associated political influence. It should be established as an independent agency with a Board of Directors and staffed appropriately. Instead of having representatives from the Barbados Workers’ Union (BWU) and the National Union of Public Workers (NUPW), it should have one representative from the Congress of Trade Unions & Staff Associations of Barbados (CTUSAB). In addition to the Barbados Employers’ Confederation (BEC), representatives from the Barbados Private Sector Association (BPSA), the Barbados Chamber of Commerce & Industry (BCCI), the Small Business Association (SBA), the Barbados Association of Medical Practitioners (BAMP), the Credit Union League (CUL), the Central Bank, the Bar Association, the Ministry of Labour, and the Ministry of Finance should constitute the Board.

The investment committee of the NIS should be made up of competent professionals with a proven track record in the areas of finance and investments. The ultimate decision-making power over the investment of NIS funds should reside with the Board, acting upon the recommendations of the newly constituted investment committee, rather than in the office of the Minister of Finance.

Annual actuarial valuations of the NIS should be carried out by Barbadian firms, or an in-house Barbadian actuary, with the aim of preserving scarce foreign exchange and developing Barbadian actuarial expertise.

109 thoughts on “Walter Blackman Comments on the 15th Actuarial Review of the NIS of Barbados – Misallocation of Human Resources


  1. Walter

    I was going along mostly agreeing with you until you produced the following piece of crap:

    The NIS, specifically the part of it that was born as a department of central government, was breastfed from infancy with the milk of backward-thinking civil service attitudes and human resource limitations. Over time, heavy political interference with and influence over the civil service recruitment process, and over the day-to-day functioning and operations of some departments, took its toll and retarded the growth of the institution. Lax management practices and the expected mishandling of contributions made a bad situation even worse.

    Please be more specific. Who were these people that breastfed NIS with the milk of backward-thinking Civil Service attitudes? And what were these human resource limitations?

    You speak out of turn without knowing any specifics and basically slandered the hardworking people who built NIS. The problems with NIS came after know-it-all’s like you decided to fix NIS without understanding what they were doing. They came and installed graduates in every field to work in and manage NIS but the field that was sorely lacking was knowledge of the voluminous NIS regulations.

    Then your ilk brought in outsiders and paid them millions to key in the information on ledgers to the malfunctioning computer system, rather than use existing staff that knew and understood NIS. As a result, hundreds of NIS pensioners are receiving smaller pensions because of incomplete computer records. So much for the private sector forward thinking.

    What is so bad about the Civil Service managers who nourished the scheme in the early days. It was more efficient before the NIS board started to illegally employ staff calling the positions board posts. When the old and barely qualified persons managed the scheme it was more efficient and respected in and out of Barbados. When I worked there in the 1980s, workers from national insurance schemes from outside this country came here to learn from our model. I was personally involved in the training of workers from St. Lucia and Grenada.

    Stick to what you know and from what you have written, it is certainly not anything about the management of NIS


  2. This litany of woe

    Did Barbados begin just 50 years ago? Can the mental clock of this writer go no further back than 50 years ago? Could it be possible that other exogenous forces informed the last 50 years? And if so, what kind of mental limitations does this artificial or arbitrary point of departure suggests?

    Is this the best that one who sees himself as a brainiac, in trying to deflect from DLP failures, could do is to curse workers?

    How come he never cursed himself? We have never been able to discern any difference between the writer and those to whom his bile is well misdirected.

    And be Jesus Christ, his colleagues in government are far worse than he assumes the civil servants to be.

    There are known criminals in this DLP government. This PM, Freundel Jerome Stuart, is presiding over a criminal enterprise of a government, and ignorance is no excuse any more.

    Is the writer not showing his own mental limitations by pointing to a singular source of causation for the failings at the NIS?

    In the first part the writer, as tough with an ax to grind, lambasted the workers. Not once did he, directly, call out this pernicious DLP government for 10 years of mismanagement at the NIS.

    Not once did he complain about the use of the NIS as a piggy bank by government and the private sector for the construction of all types of white elephants and to buy useless paper issued by this administration.

    In all, we have no choice but to give this ‘unfinished product’ of an 11-Plus school boy a failing grade.

    We are not rassssssoul re-reading so you are free to, in your usual manner, to point out errors made.


  3. Caswell Franklyn November 24, 2017 at 10:26 PM #
    “Walter
    When I worked there in the 1980s, workers from national insurance schemes from outside this country came here to learn from our model. I was personally involved in the training of workers from St. Lucia and Grenada.”

    Caswell,
    I would bet my last dollar that you worked at the NIS at the level of clerical officer or senior clerk. No higher. I would also bet my last dollar that, to the best of your ability, you imparted whatever little knowledge you gained from working at the department to the workers from St. Lucia and Grenada who you “trained”.
    However, an orderly working at a recently opened small hospital is not expected to understand the need to plan for the future work of surgeons, anaesthetists, dietitians etc, He cannot foresee the need to mitigate possible future risks through the eventual purchase of malpractice and liability insurance. He just doesn’t have the training and vision.
    You remind me of a man who was feeding a lion cub with milk every day and felt that that was all the expertise needed to keep things under control forever.


  4. Caswell Franklyn November 24, 2017 at 10:26 PM #
    “Walter,
    You speak out of turn without knowing any specifics……..
    The problems with NIS came after know-it-all’s like you decided to fix NIS,,,,,,
    Then your ilk brought in outsiders and paid them millions,,,,,,,,.”

    Caswell,
    You have been heard.


  5. Pachamama November 25, 2017 at 12:28 AM #

    “Is this the best that one who sees himself as a brainiac, in trying to deflect from DLP failures, could do is to curse workers?

    There are known criminals in this DLP government. This PM, Freundel Jerome Stuart, is presiding over a criminal enterprise of a government, and ignorance is no excuse any more.

    Not once did he, directly, call out this pernicious DLP government for 10 years of mismanagement at the NIS.

    In all, we have no choice but to give this ‘unfinished product’ of an 11-Plus school boy a failing grade.”

    Pachamamum,
    Steupse.

    There is one thing I want you to keep in your schizophrenic mind always: I never advised you to fail the 11+ exam.


  6. This is a political puff piece on a serious subject. The anti union bias is clear. The anti labor follow up is equally clear. What is also clear is the inference that blue collar equals ignorant. Given the very poor quality of some of the recent statements attributed to the “lettered” and “qualified” about investing policy by the board in the print media, this writer must explain how the unions and labor are responsible for bad policy which will be corrected by diminishing their input and giving increased decision making power to persons whose investment and management ability are already called into question by this writer in this same article. Why must unions and labor be punished whilst the other board members get a pass. it may be the case that if more blue collar (meaning productive) persons were involved in making decisions, the fund would be more responsive to the realities of the working people who have contributed over their working lives. But I guess in the eyes of this writer, they are of less importance than high sounding rhetoric.


  7. Walter are we hearing you to say that the blame for an inefficient NIS should be more pointed at Director Carrington and others on his team? Have to admit was a little disappointed you did not critique the analysis in the actuarial review. You stayed high level because…?


  8. enuff November 25, 2017 at 6:59 AM #
    “Walter sounds like he looking fuh wuk. lol”

    enuff,
    Maybe you should do the same. lol.


  9. David @7.59 AM

    I agree with you on the lack of critique of the analysis in the actuarial review.

    I am also baffled by the seeming suggestion that neither Wynter Crawford or the two Walcotts knew what they were doing with the setting up of this then innovative scheme which in turn led to mismanagement by the civil service……interesting.


  10. David November 25, 2017 at 7:59 AM #
    “Walter are we hearing you to say that the blame for an inefficient NIS should be more pointed at Director Carrington and others on his team? ”

    David,
    This is what you heard me say, clearly and unequivocally:

    “The NIS, specifically the part of it that was born as a DEPARTMENT OF CENTRAL GOVERNMENT, was breastfed FROM INFANCY with the milk of backward-thinking civil service attitudes and human resource limitations. OVER TIME, HEAVY POLITICAL INTERFERENCE WITH AND INFLUENCE OVER the civil service recruitment process, and over the day-to-day functioning and operations of some departments, took its toll and retarded the growth of the institution. LAX MANAGEMENT PRACTICES and the expected mishandling of contributions made a bad situation even worse.”

    Director Carrington and others on his team do not have the power to hire NIS staff. They have to work with employees drawn from the general civil service pool. However, Mr. Carrington and all of the directors that went before him must take collective responsibility for some of the problems which have continued to plague the institution.

    Similarly, the Stuart administration and all of the administrations that went before it, must take collective responsibility for some of the problems that have continued to plague Barbados.


    • Walter

      You stated:

      Director Carrington and others on his team do not have the power to hire NIS staff. They have to work with employees drawn from the general civil service pool. However, Mr. Carrington and all of the directors that went before him must take collective responsibility for some of the problems which have continued to plague the institution.

      You state a fact and then draw conclusions that are not supported by the statements you make.

      There is no high turnover of staff at NIS. A majority has been in that department for more than 10 years. The problems did not come from what you perceive, it is more complex than your one-tracked actuarial mind would allow you contemplate and understand.

      The NIS has its own substantial body of laws that are now mostly observed in the breach because the newer highly qualified management are generally unaware of those rules.

      NIS had a staff that was well versed in its regulations but instead of promoting the knowledgeable ones, the qualifications were changed to exclude them. In came a whole host of people with degrees, most of which had no relevance to NIS, and the destruction started. People like Tony Thomas, who had more knowledge of Barbados NIS than any other person alive on this planet, was not promoted to a position where his knowledge and skills would have benefited BARBADOS because he did not have a degree.

      Then junior staff realising that the only hope for promotion was to become a graduate and they went to Cave Hill, studied whatever was easy and returned to be promoted. After promotion, they still have no knowledge of NIS but they manage and do so badly.

      How can you blame NIS staff when they initiate proceedings against delinquent employers but because of political interference the judgements are not enforced. Just take a look at the NIS judgment book at the Registration Department and you would see hundreds of millions of dollars of judgements that are not being enforced. The staff of the NIS are not responsible for that.

      If I were you I would ask David to take down this post since you spoilt it venturing into areas where you had only a smattering of knowledge.

      You should remember that NIS contract a German firm to install a computer system, they in turn subcontracted a Colombian firm to do the actual work. That $9 million contract ended up costing in excess of $66 million and had to be abandoned and the process started over again. How can you blame the staff. These decisions were made over their heads by the political operatives that were appointed to the board.

      We now have a situation where long term staff members can produce more work manually that the new computer system.

      Speak to what you know!

      Sent from my iPad


    • @Caswell

      A quick intervention.

      Did the unionist who sit on the NIS Board react to the squandermania in any material way that you are aware?


    • At that time one of the unionists that sat on the board was Dennis Clarke, he did not have the capacity to react sensible.

      Sent from my iPad


    • David

      The other trade unionist on the NIS board at the time was Sir Roy. I only know him as a trade unionist and a politician and he was piss poor at both. I know nothing about his contribution at NIS. I could only assume that it was more of the same.

      >


  11. We have never been subjected to reading such innate nastiness

    And would prefer the man-in-the-street approaches, even real cussing

    This article gave us visions of a ‘nasty hand’ woman dispensing of the content of a ‘topsy’ over the palling, on somebody else’s property.

    Is this the level of mentalities a so-called education system has produced, oh Jesus Christ!

    A man who was publicly shamed by Don Blackman for his idiocy

    A man who was abused by Charles Herbert at BMLAS

    A mad man who has always believed that he somehow is better than most, an elitist bull-shitter

    Certainly, there is a deep schizophrenia here!

    Such a man can only now curse an entire class of people who paid for his mis-education.

    But he has not a word of criticism for the elites who have led the masses astray

    Its the leaders, and he had interest once in leading, who are always to be blamed when catastrophe comes.


  12. So, in essence, what Walter Blackman is saying, is that we are the dog who chased cars (independence) it’s entire life until he finally caught one and realised he couldn’t drive.

    The only solution any bureaucrat has for any problem is more bureaucracy.

    Our gov’t and snivel service heaps tons of useless bureaucracy upon us and themselves, then complain when they can’t get through it, then blame us for complaining about it.

    This country needs a massive dose of laxative to flush the bureaucratic shit from our gov’t and snivel service bowels.

    If we don’t find a way to engage practical problem solvers within the civil service (work placement exchanges with the Private Sector) and gov’t (de-politicised Senate) this country is going no-where.


  13. David November 25, 2017 at 7:59 AM #
    “Have to admit was a little disappointed you did not critique the analysis in the actuarial review. You stayed high level because…?”

    David,
    Many of our national problems are created because there is no vision, or when there is one, it is not effectively communicated.

    Here is the vision I have regarding my articles to be written on the 15th actuarial review of the NIS:
    1. Comments on the 15th actuarial review of the NIS of Barbados – Misallocation of human resources
    2. Comments on the 15th actuarial review of the NIS of Barbados – A failed investment policy
    3. Comments on the 15th actuarial review of the NIS of Barbados – Threats to the sustainability of the scheme

    I pray that the Lord grants me the wisdom and the strength to complete the next two articles.


    • @Walter

      Thanks, we have been receiving some backdoor feedback that the Director and a few of his support staff is a big part of the problem at the NIS.


    • I pray that the Lord grants me the wisdom and the strength to complete the next two articles.

      Walter

      If the next two articles would be of the same quality as the first – don’t bother.

      Sent from my iPad


    • @Caswell

      By way of a general comment you should note that learning in this forum is gleaned not just from the substantive post but from the interactions that follow.


  14. Frustrated Businessman: Animal Farm sequel playing out in Bim. November 25, 2017 at 9:33 AM #
    “So, in essence, what Walter Blackman is saying, is that we are the dog who chased cars (independence) it’s entire life until he finally caught one and realised he couldn’t drive.”

    Frustrated Businessman: Animal Farm sequel playing out in Bim,
    Which paragraph(s) in my article did I use to say this?


  15. BMcDonald November 25, 2017 at 6:13 AM #
    “Why must unions and labor be punished whilst the other board members get a pass.”

    BMcDonald,
    My suggestions or recommendations are not to be viewed as decrees or epistles handed down from on high. They are intended to stimulate discussion. Any suggestions you have are just as worthy of consideration as mine.
    For example, if you believe that the Barbados Secondary Teachers Union (BSTU), the Barbados Union of Teachers (BUT), Unity Workers Union, and the Clement Payne Trade Union should all be invited to sit on the NIS Board, I have no problem with that.


  16. Still a Walter Blackman fan.
    I might be able to get by on a vegetarian diet and wait for different courses, but they are some red meat men/women here. and they expect to be fed nothing less.


  17. Here is the Coles/Cliff notes version of Walter’s critique distilled into a few words “square pegs in round holes”


  18. Pachamama November 25, 2017 at 9:23 AM #
    “We have never been subjected to reading such innate nastiness”

    Pachamamum,
    Your glaring inability to spell simple words has long convinced me that you and the voices in your head have not been subjected to much reading anyhow.

    There are many readers of BU who visit the site to be enlightened and educated. They make no comments.

    I am going to deliberately use you to give these readers a deeper insight into the nature of the human resource misallocation problem plaguing the NIS.

    At page 5 of the 15th actuarial review, Morneau Shepell lists the following recommendations:

    Add SKILLED and EXPERIENCED persons in operational, IT, and accounting areas so that IMMEDIATE IMPROVEMENTS can be made to ALL operational functions, preparing ACCURATE AND TIMELY financial statements and being able to produce RELIABLE reports on the funds’ operations.
    Make MAXIMUM use of the capabilities of the IT system so that service levels may be improved.
    Ensure that all KEY positions within the NIS office are filled.

    The capitalized emphasis is my doing.

    Please read, reflect, and ruminate.


  19. Once more we are leading ourselves into the massa’s trap that our public servants are the poorest on the planet. I would advise that you all visit other countries and see how our public service matches up. Barbados would have been long in the shark’s guts , if we did not have a extremely competent public service. The collective skullduggery of the duolopy has done more damage to the psyche of our public servants than anything else.
    Donville Innis has not left any of the kool aid served by the private sector for anybody else to drink. All the fancy talk Owen Arthur had he left the public service just as he found it, mainly failure to integrate modern technology into its day to day fucntions. It is basically intellectually honest to blame the DLP without equally blaming the BLP. They are both responsible for dropping the ball since the mid seventies. All that has happened is the simple fact that the failures are more glaring now but they have been there almost forty years. The NIS is just another tragedy of the collective mismanagement of the BLPDLP.


    • William

      I must strongly disagree with you. Owen Arthur did not leave the Public Service just as he found it. That would have been preferred, instead he continued the destruction that was started by the Rt. Excellent Errol Barrow.

      Sent from my iPad


    • @Caswell

      It would be useful for the discussion if your listed 2 or 3 ways that Arthur continued the destruction?


    • David

      Just one way would suffice – the Public Service Act.

      Sent from my iPad


  20. Theophilius Gazerts November 25, 2017 at 10:34 AM #
    “…. they are some red meat men/women here. and they expect to be fed nothing less.”

    Theophilius Gazerts,
    A simple, but brilliant observation.


  21. William Skinner November 25, 2017 at 10:56 AM #
    “The collective skullduggery of the duolopy has done more damage to the psyche of our public servants than anything else.
    All the fancy talk Owen Arthur had he left the public service just as he found it, mainly failure to integrate modern technology into its day to day fucntions….. All that has happened is the simple fact that the failures are more glaring now but they have been there almost forty years. The NIS is just another tragedy of the collective mismanagement of the BLPDLP

    William Skinner,
    I agree with your comments above. Public service reform has been needed for a long time, but all we got was political tomfoolery. Too many civil servants have been foisted upon government ministries and departments. Many of these political picks, rather than focusing on making effective use of the opportunity and developing a skill set, tend to foolishly declare that : “Minister X sent me, so none o’ wunna can’ touch me or tell me nuttun.” They then proceed to cause infectious mischief and mayhem in the department, which in turn lead to poor morale and reduced productivity.
    On the other hand, we have some technologically savvy young people, who are not given a chance, but who have the ability to bring e-commerce platforms to government and by doing so increase productivity and reduce waiting times. The NIS, as a department of central government, cannot escape the effects of this plague.


  22. @ Walter Blackman
    “On the other hand, we have some technologically savvy young people, who are not given a chance, but who have the ability to bring e-commerce platforms to government and by doing so increase productivity and reduce waiting times. The NIS, as a department of central government, cannot escape the effects of this plague.”

    The only young people that the BLPDLP really interested in are those who can use their technological savvy to set up giant music platforms at election time. I know that there are young people building programs and so on but they are almost completely ignored. We continue to waste innovation and creativity by promoting a decadent BLPDLP political culture.

    @ Caswell Franklyn November 25, 2017 at 11:21 AM #
    William

    “I must strongly disagree with you. Owen Arthur did not leave the Public Service just as he found it. That would have been preferred, instead he continued the destruction that was started by the Rt. Excellent Errol Barrow.”

    Thank you. That is why I maintain that both the BLPDLP are guilty and those who continue to prop them up should be taken into the back yard and………

    @ David

    David November 25, 2017 at 11:28 AM #
    @Caswell

    “It would be useful for the discussion if your listed 2 or 3 ways that Arthur continued the destruction?”

    I am starting to believe that you enjoy playing Devil’s advocate because I know you are very intelligent.


    • @William

      You are not aware that a good moderator for the sake of constructive discussion will never assume others know what he knows?


  23. Caswell Franklyn November 24, 2017 at 10:26 PM #
    “Walter

    The problems with NIS came after know-it-all’s like you decided to fix NIS without understanding what they were doing. They came and installed graduates in every field to work in and manage NIS but the field that was sorely lacking was knowledge of the voluminous NIS regulations.

    Then your ilk brought in outsiders and paid them millions to key in the information on ledgers to the malfunctioning computer system, rather than use existing staff that knew and understood NIS. As a result, hundreds of NIS pensioners are receiving smaller pensions because of incomplete computer records.”

    Caswell Franklyn November 25, 2017 at 11:06 AM #

    “Walter
    The NIS has its own substantial body of laws that are now mostly observed in the breach because the newer highly qualified management are generally unaware of those rules.

    NIS had a staff that was well versed in its regulations but instead of promoting the knowledgeable ones, the qualifications were changed to exclude them. In came a whole host of people with degrees, most of which had no relevance to NIS, and the destruction started.

    Then junior staff realising that the only hope for promotion was to become a graduate and they went to Cave Hill, studied whatever was easy and returned to be promoted. After promotion, they still have no knowledge of NIS but they manage and do so badly.”

    Caswell,
    After you have recovered from the sting which was inflicted by the big bumble bee in your bonnet, you will realize that your writings reflect one of the central themes of my article – misallocation of human resources.


    • Walter

      My writings do not reflect one of the central themes of your article, rather it debunks your misconceptions about Public Officers.


  24. Seems like the NIS needs an upgrade and people who are actually capable of making intelligent decisions and not hired and placed in these positions just because they got an alphabet soup of letters trailing behind their names or are friends with ministers…….particularly as it pertains to investment of pensioners funds……and especially government using the fund as a piggy bank because they themselves are not too intelligent and cannot think beyond their one egg in the basket tourism..


  25. Paragraph 11 of my article states, inter alia, that: Barbadian taxpayers need to demand that an official enquiry be made into the amount of money spent by the NIS on computer hardware and software since 1980. The analysis should show who the payees are, and how much was expended in foreign currency. In this area, something appears to be rotten in the state of Denmark.

    Caswell Franklyn November 25, 2017 at 11:06 AM #
    “Walter

    If I were you I would ask David to take down this post since you spoilt it venturing into areas where you had only a smattering of knowledge.

    You should remember that NIS contract a German firm to install a computer system, they in turn subcontracted a Colombian firm to do the actual work. That $9 million contract ended up costing in excess of $66 million and had to be abandoned and the process started over again. ”

    Caswell,
    You want David to take down my post so that you can put up the same “crap” in its place?


    • No Walter, I don’t want you post taken down so that I could replace it with my crap. I want it taken down and replaced with something that is more worthy of the Walter Blackman that I used to know and respected.

      I am harsh on the people that I like especially when I know that they can do better.


  26. “I know that there are young people building programs and so on but they are almost completely ignored. ”

    And that is why the island will continue to suffer for excluding their own talent,…

    …….I know one exhibition scholar who builds programs for world class companies in various industrialized countries, has neen doing so since in university….but would not dare subject themself to the dirty politics that has destroyed everyone and everything on the island….and knows it’s best to stay away.

    The stone you reject is the head corner stone…in this case, there are hundreds of rejected stones that are much better off staying away, not becayse they want to but because of both shitty governments and their useless politics..


  27. Mr Blogmaster, a debate you say! It more resembles two expert snipers trading high velocity rounds from their positions of strength.

    They both are supremely skilled but reached their levels of excellence by vastly different routes and now are so seemingly hard set that there is no practical middle ground sought or requested…even as they basically extoll the same problems.

    No wonder the NIS and others are plagued by these grave issues …. particularly of effectively using human resources.

    This sniping exemplifies that only too well.


  28. @Caswell Franklyn who said: “I am harsh on the people that I like especially when I know that they can do better.”

    Well bro, your bromance with Sir Roy must be like father and son then. 😂

    Your certainly was just a ‘tad’ harsh on a man who appeared to be a magufffy in labor matters here, in Geneva and all bout de place and who also appeared to effect as much political power and control as his storied predecessor did.

    Man, I would certainly not like to see how you treat those you DON’T like.😊


    • Dribbler

      I am also harsh on those that I have no regard for. He is not my friend nor is he my enemy as far as I know.

      It is just that I hate to see anyone mislead workers, and he has been doing so cleverly for as long as I knew him.

      He was General Secretary of BWU for a long time and people always thought that he was fighting for Transport Board workers but recent events where workers went on strike because of poor representation gives the lie to that. Imagine, there is a 62 year-old provision in the Transport Board Act that speaks to providing pensions for Transport Board, yet to date not one driver has ever received a pension or gratuity from Transport Board even with the illustrious representation from him.

      The consummate bluffer but I digress.

      Sent from my iPad


  29. @Walter Blackman November 25, 2017 at 10:52 AM
    “I am going to deliberately use you to give these readers a deeper insight into the nature of the human resource misallocation problem plaguing the NIS.
    At page 5 of the 15th actuarial review, Morneau Shepell lists the following recommendations:
    Add SKILLED and EXPERIENCED persons in operational, IT, and accounting areas so that IMMEDIATE IMPROVEMENTS can be made to ALL operational functions, preparing ACCURATE AND TIMELY financial statements and being able to produce RELIABLE reports on the funds’ operations.
    Make MAXIMUM use of the capabilities of the IT system so that service levels may be improved.
    Ensure that all KEY positions within the NIS office are filled.
    The capitalized emphasis is my doing.
    Please read, reflect, and ruminate ”

    Walter, what a big joke!
    So it took a rather costly foreign actuarial consultant to tell the NIS Board the obvious?

    Yet not a word of criticism of the Chair who is doctor in Management Studies.
    Why place a square peg in a round hole if the country has to pay dearly for such straightforward advice which any MBA can offer in a report for less than $50,000?

    If Dr. Worrell can be fired and not missed why not the quack warming the chair?

    Why aren’t you calling for the sacking of Dr. JR who has overseen the massive deterioration of the same NIS?

    Why are you selling yourself so cheap? Don’t you think that you, the NIS specialist, can do a much better job than the quack sitting in the Chair?

    After all, the same sitting duck doc is a boy in the yard compared to you who studied under the guiding hands of Dr Lawrence Nurse and Professor Sakey.


  30. Caswell Franklyn November 25, 2017 at 11:06 AM #
    “Walter
    How can you blame NIS staff when they initiate proceedings against delinquent employers but because of political interference the judgements are not enforced.”

    Caswell,
    Like most people who visit BU, I do so because I want to broaden my (one-track actuarial) mind through education.

    Section 43 of Cap 47 of the laws of Barbados states:
    (1) All sums due and payable as national insurance contributions under this Act ………may be recovered summarily as a debt due to the board in civil proceedings.
    (2) In the recovery of unpaid sums in pursuance of subsection (1), the Director, National Insurance may certify, in relation to the person who owes those sums, in a certificate called an unpaid national insurance certificate, the sums due and payable by that person.
    (3) An unpaid national insurance certificate may be filed by the Director, National Insurance in the High Court or in a Magistrate’s Court for District ‘A’;………
    (4) ………
    (5) Proceedings may be taken on an unpaid national insurance certificate as if it were a judgment of the court in which it was registered.
    (6) Where an unpaid national insurance certificate is filed by the Director, National insurance in the High Court or in a Magistrate’s Court for District ‘A’, the Director, National Insurance, shall, without delay, deliver a copy of the unpaid national insurance certificate to the person to whom that certificate relates…..
    (7) …………
    43A Where a judgment is obtained in any court against a person in respect of sums due to the Fund, an inspector or other officer authorized in that behalf by special or general directions of the Board may proceed to execute and enforce that judgment…….

    Can you demonstrate to BU readers, and a non-lawyer like me, how political interference can prevent the enforcement of judgment of the court under section 43 of Cap 47?


    • Walter

      It is simple, all the Minister has to do is to tell the director not to enforce the judgment, as been happening for years.

      Since Barrow’s constitutional amendments of 1974, officers who aspire to senior positions in the Public Service, comply with those unlawfully directives if they ever want to be promoted. Since they know the service so well, you should be aware.

      NIS has been going downhill since Grantley Smith was promoted from Director. Layne was bad enough but after him, they promoted Ian Carrington and all hell broke loose. He might have all the accounting qualifications but he could not successfully manage a snow cone cart. He does not listen and thinks he knows it all.

      I recall representing a lady before him, who was accused of receiving her benefit (pension) in duplicate. According to NIS, one was being lodged to her account and a cheque was also mailed to her. She denied that allegation, claiming that she never received the cheques. I asked him to produce the returned cheques, but he couldn’t.

      I then suggested to him that he had at least two crooks in NIS, one cutting the cheques and the other doing the bank reconciliation. He in turn threatened me with a defamation suit.

      As it turned out, I was wrong. There were not two crooks but one crook doing both functions. This is now nine years after and no one knows how much money was stolen and not a single cancelled cheque has been recovered. We know that millions were stolen but no precise figure. Yet Carrington remains. How can you blame the average public officer for NIS failures?

      Sent from my iPad


  31. Condensing as the author did latterly,
    1. Misallocation of human resources…this seems to be consistent through many publicly operated bodies
    2. A failed investment policy….the Review references an IPS or Investment Policy Statement. What is failing is potentially not the policy, but its execution, which as publicly stated by the MoF his department controls. The Chairman is on record stating there is no political interference in the policy itself. So I will conclude the execution and the policy statement do not match due to political interference.
    3. Threats to the sustainability of the scheme….these would stem from 1 & 2.

    The performance (or lack thereof) of IT systems seems to be a common thread through many public operations in Barbados. One after the other, their inability to provide timely and accurate information, is a recurring theme. Yet, they somehow wish the public to believe they have “internal information” which is timely and accurate?

    We all know the NIS has been unable to produce an annual report in eons. Barbados Port Inc has reports for 09,10,11, 12, then they skip in 13 and we get a 14 report and nothing since? Before the BNOCL website went offline, they too were in breach, missing several years of reports.

    How can anybody, make proposals on alternatives, when there is no clue as to what is actually going on?

    And the various Ministers and promoters would like the Investment community to ignore this and adopt a positive attitude? Please….get your various houses in order.


  32. Bushie sees nothing wrong with Walter’s paper.

    ..and Caswell may also be technically correct, but the reality is that he, like Walter, tends to see things from a particular perspective. Walter from a political /actuarial one, and Caswell a ‘rules and regulations’ viewpoint.
    They are both saying the same thing.

    The FRIGHTENING thing though, is that this shiite is endemic THROUGHOUT all areas of local life. Total lack of accountability; spending like it is going out of style; and piss-poor results routinely accepted as normal.

    Since Caswell is wont to severely critique those whom he likes and respects, perhaps he will understand why Bushie thinks that he should do like Vincent on reverse mortgages blog, and shut his trap on this topic.

    NO ONE ELSE in Barbados understands the level of shiite going on in this place like Caswell. He has made it his business over the past 40 years to stick his nose into all kinds of jobby – to the point where he can now identify shiite just by the smell.

    BUT WHAT HAS CASWELL DONE…?
    …besides talk shiite.??

    Bushie put up a proposal some years ago for this SAME Caswell to BUP and – using his vast knowledge, strong commitment to justice, and fearless drive to see fairness – make a DIFFERENCE in Barbados in the coming elections as THE third party.

    Caswell did not even fart on Bushie…

    …now he is cussing Walter.
    At least Walter THINKS that he is on the path to bring change….. even though he is wrong – just like his pal David Thompson found out.
    You CANNOT join the Devil’s team with a long-term plan to take over Hell ..and air-condition it.

    It does NOT work like that….
    The CORRECT approach is to say to the demons – GET THEE BEHIND ME (or in Bajan terms, Kiss my donkey….)

    Now the two of wunna could talk ’til the fat lady starts her song,….. it is too late.
    Wait…
    …is that the song’s opening bars being played as we speak….?


  33. @ Norther O
    How can anybody, make proposals on alternatives, when there is no clue as to what is actually going on?
    ++++++++++++++++++++++++++++++++++++++++++++
    Boss, it is for your own good.

    Cause if you REALLY knew what was going on, you would likely have a stress attack, or at least, uncontrolled blood pressure issues….


  34. In the 3rd paragraph of my article, one can read: Today, too many government departments are owed hundreds of millions of dollars by individuals and companies possessing the capacity and willingness to pay. Payment would be forthcoming, if only a minimal amount of pressure were applied to the delinquent offenders. However, no EFFECTIVE pressure is ever applied. What is responsible for this? Corruption?

    Caswell Franklyn November 25, 2017 at 2:45 PM #
    “Walter

    It is simple, all the Minister has to do is to tell the director not to enforce the judgment, as been happening for years.”

    Bush Tea November 25, 2017 at 2:45 PM #
    “Bushie sees nothing wrong with Walter’s paper.

    They are both saying the same thing.”

    Bush Tea,
    Well done.


  35. millertheanunnaki November 25, 2017 at 12:28 PM #
    “@Walter Blackman November 25, 2017 at 10:52 AM

    Why aren’t you calling for the sacking of Dr. JR who has overseen the massive deterioration of the same NIS?”

    millertheanunnaki,
    Your mouth is bigger and fuller than mine. Why aren’t you?


  36. Now let me do a little roll checking:
    According to Well Well, the self proclaimed highly skilled PieceuhdeCock has been nabbed by the authorities. For what, we don’t know.

    Gabriel now spends all of his time at the wailing wall desperately praying for Rawdon Adams to hijack the party of his father and grandfather,

    Enuff, Pachamamum Rasputin, and Vincent Haynes, the vacuous trio, have already rushed in and contributed their expected “zero” to the discussion.

    That leaves the rascal Watchman.

    Watchman, Walter Blackman is in town. Not coming out to play today?

    PS: I hope your neighbours have “washed” you in licks for that unforgivable wrong you did to them.

    Jokes are hard to come by on BU these days, so I have to manufacture my own.

    Giggle. LOL.


  37. @ Walter
    Bush Tea,
    Well done.
    +++++++++

    What the Hell do you mean by that comment Walter…?

    Knowing you, there is a STRONG insinuation there, that this is a one-off situation for the bushman…
    You are advised to consult with Hants re Bushies consistency in this regard…
    LOL
    ha ha ha


  38. ”Pachamamum,
    Your glaring inability to spell simple words has long convinced me that you and the voices in your head have not been subjected to much reading anyhow”

    ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

    The above was written by a mis-educated miscreant

    It is his mis-education which has caused all the problems in Barbados

    For to educate such a slave

    Instead of having him picking pond grass somewhere in the countryside, for 75 dollars per week, should be a crime against god.

    The writer of these diatribes is as guilty as he projects.

    He has to be the example why this so-called education system must be dismantled. In him it has produced an eminently credentialed jackass.

    All of these certifications and all he can do is beg White people for work, what a waste

    Nothing that he will ever do will make any difference anywhere.


  39. @Walter Blackman

    You must thank the blog master for not continuing with devil advocate. with just a few tugs , Caswell had you in tatters, please note when Bushie came to your rescue, “your make up joke about the watchman’s unforgivable wrong to neighbours”, is off, Walter you come off just like the PM of Barbados .


  40. “Overall it’s [The Canada Pension Plan] the envy of the world.”

    The chief actuary of Canada regularly reviews the financial state of the fund and measures its sustainability, and last year estimated the fund is sustainable for 75 years — until 2091 — with an average rate of return of 3.9 per cent.

    The CPPIB says its 10-year annual rate of return after accounting for expenses and inflation was 5.2 per cent, and was 10.5 per cent over each of the last five years — well above the threshold set by the chief actuary.

    The widely diversified portfolio is invested across 50 countries, including ownership stakes in a slew of assets few Canadians are aware of, from First Canadian Place and Highway 407 to Viking Cruises and the entertainment conglomerate that owns the Ultimate Fighter Championship. More: https://www.thestar.com/business/2017/11/17/canada-pension-plan-is-safe-for-generations-says-ceo-of-investment-board.html


  41. @Walter blackman “It should be established as an independent agency with a Board of Directors and staffed appropriately.”

    Interesting.

    And who is going to grant this independence?

    And who is going to appoint this Board of Directors (What? the same politicians? Ya lie)

    In insular communities incest is much more common than in more open more fluid societies

    I think that what we have here in intellectual/economic/financial incest.


  42. The piece by Walter Blackman provides a strong and compelling argument. NIS, indeed, needs to be ripped from the powers of political influence, namely the Democratic Labour Party, and become an entity that functions under a prescribed mandate and appropriately applied legislative controls that negates decisions that detrimental and dumb. He has hit the hammer of the nail head when he identifies the weakness at the NIS as a function under the control and influence of political surrogates, whose only mandate is to serve their political puppet masters with the words, I will, and yes we can. This is why Blackman is right to point out the problem being civil service square pegs functioning in strongholds that need rounded pins. The entire recruitment process of the public service is not base on employing skill sets suited to important positions, but the whims and fancies of politicians wanting people who can provide the least resistance when asked to carry out a task that might not be in the best interest of overall development.


  43. Canada use their own home grown actuaries, who actually know what they are doing and cannot be pushed around by politicians, big difference to the cesspit you have on the island, where the heads of the pension fund can be pushed around even by those in the private sector hellbent on ripping it off…….because they are merely chosen yardfowls………as well as pushed around by politicians looking for their cut from private sector…..while paying Canadian actuaries millions of tax dollars for work that local actuaries can perform for a little less, although they can pay them the same, because they have the same or even better skills…..but ministers wont want to, unless they can get a cut…

    ……such a disgrace to be speaking of this in 2017, ya have ministers still wallowing in their 1980s mentality so they can live 2017 lifestyles.

    They use the same Canadian actuarial company to create these reports who is using Barbados and the Caribbean to cheat on taxes in Canada….all of that came up in the Canadian parliament recently.

    The local ministers are dumb asses…and have put that 40 year treaty at risk with their too low rate of taxation for tax evaders…

    So yes, there is a lot to envy in the way Canadians handle their population’s business, their treasury as well as pension, investments etc, ….with the whole population in mind and the ones to benefit.


  44. In the case of Canadian pensions, Canadians must hope the government’s CPP continues to be independent of political interference and well run. Those workers blessed with company pensions will likely come to rely on the government’s CPP in their old age to a much greater extent than they expected to supplement their company provided pension plans. Let’s hope it continues to be there for them.

    Trudeau and Morneau play a risky pensions game
    by Linda McQuaig

    There’s lots of lamenting about the way the rich keep getting richer while ordinary folk struggle to keep their heads above water. Along with the lamenting, there’s usually some resigned muttering about how it’s all just part of today’s global economy.

    But there’s a much simpler explanation: our governments keep passing laws that make the rich richer and ordinary citizens poorer.

    An example of this is currently being played out in Ottawa as the Trudeau government — ostensibly a “progressive” government that champions the middle class — is moving forward with legislation aimed at stripping away pension benefits from potentially hundreds of thousands of Canadian workers.

    SNIP

    Justin Trudeau, then merely leader of the opposition Liberal Party, sided strongly with the outraged workers, denouncing Harper’s pension changes as “wrong in principle” and “unacceptable.”

    But, after Trudeau became prime minister in 2015, workers were surprised when his new government quietly introduced a strikingly similar version of Harper’s pension changes.

    http://rabble.ca/columnists/2017/11/trudeau-and-morneau-play-risky-pensions-game


  45. If Trudea keeps up that game with tax evading Morneau…he will not be reelected, period.


  46. @ SSS
    The piece by Walter Blackman provides a strong and compelling argument. NIS, indeed, needs to be ripped from the powers of political influence,
    +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
    This sentence, better than ANY OTHER COMMENT on this blog – INCLUDING WALTER’s post, summarises the situation that we face in Barbados today.

    The fact that we have found every OTHER angle to discuss and to argue about, speaks VOLUMES about the brass bowlery that has this Island in its deadly grip.

    In any COMMON-SENSE driven society, such a Board as the NIS would have been chosen by a broad representative panel, and selected from a list of pre-qualified candidates.
    There would also be an overall SUPERVISORY Senate / National Supervisory Committee in place -instead of the shiite senate…(something that Bushie and Frustrated Businessman has been calling for now for YEARS) with the power to audit and oversee the transparency of ALL operations.

    Simple, basic, common sense…… But such is unheard of among brass bowl RH Bajans….

    @ SSS
    Stay in Europe yuh hear sweetie…. don’t come back and get infected with the brass bowl bug…. UNLESS of course yuh come wid a big-ass whacker like Bushie’s…


  47. @ Bush Tea
    BUT WHAT HAS CASWELL DONE…?
    …besides talk shiite.??

    Bushie put up a proposal some years ago for this SAME Caswell to BUP and – using his vast knowledge, strong commitment to justice, and fearless drive to see fairness – make a DIFFERENCE in Barbados in the coming elections as THE third party.

    Caswell did not even fart on Bushie…

    That’s a gem !!!!

    Ah can’ believe you don’ know why, Bushie. LOL.


  48. With respect to the NIS, in paragraph 9 of my essay, I wrote: Lax management practices……….made a bad situation even worse.

    Caswell Franklyn November 25, 2017 at 2:45 PM #
    “Walter
    There were not two crooks but one crook doing both functions. This is now nine years after and no one knows how much money was stolen and not a single cancelled cheque has been recovered. We know that millions were stolen but no precise figure.”

    Caswell,
    Despite your “loud lamentations and angry groans”, everyone can see that your comments have served to reinforce and amplify the ”crap” that you have accused me of writing.
    I want to thank you for the service which you unwittingly rendered to this article in furtherance of public education.


    • @Walter

      Not to digress but are you willing to ask your colleague on the show you both host on the CBCTV8 if he settled the outstanding mobile bill at the NUPW accrued while he was president?


    • Walter

      You should go back to the first comment on this post. You would realise that I was referring to one paragraph. I maintain that the particular paragraph spoilt the column. It reminded me of a time when I was a boy, my grandfather had just finished milking the cow and it put its foot in the bucket.

      Sent from my iPad


  49. In the 3rd last paragraph of my article, I wrote:
    The institution needs to be extricated from the grips of the civil service and its associated political influence. It should be established as an independent agency with a Board of Directors and staffed appropriately.

    Sunshine Sunny Shine November 26, 2017 at 3:44 AM #
    “NIS, indeed, needs to be ripped from the powers of political influence, namely the Democratic Labour Party, and become an entity that functions under a prescribed mandate and appropriately applied legislative controls that negates decisions that detrimental and dumb.”

    Bush Tea November 26, 2017 at 7:47 AM #
    “In any COMMON-SENSE driven society, such a Board as the NIS would have been chosen by a broad representative panel, and selected from a list of pre-qualified candidates.
    There would also be an overall SUPERVISORY Senate / National Supervisory Committee in place…. with the power to audit and oversee the transparency of ALL operations.”

    I honestly believe (and so do Bush Tea and Sunshine Sunny Shine) that the NIS should become an independent entity. However, when it comes to transforming this belief into practical reality, I had to think long and hard over the following questions raised by Simple Simon:

    Dr. Simple Simon Phd. November 25, 2017 at 10:29 PM #
    “@Walter blackman
    And who is going to grant this independence?
    And who is going to appoint this Board of Directors (What? the same politicians? Ya lie)”

    Simple Simon’s questions made me realize that any meaningful attempts to correct any national problems will be opposed and defeated by the politicians who will make sure that they are the final decision makers.
    Everything King Midas touched turned to gold, Unfortunately everything that a politician in Barbados touches eventually turns to “duppy” dust.


  50. Caswell Franklyn November 26, 2017 at 12:33 PM #
    “Walter

    You should go back to the first comment on this post. You would realise that I was referring to one paragraph.”

    Caswell,
    As Bushie would say, referring to one paragraph what. Please read your comment below:

    Caswell Franklyn November 25, 2017 at 11:12 AM #
    “Walter

    If the next two articles would be of the same quality as the first – don’t bother.”

    All of you politicians are the same.

    LOL.


    • Walter

      Please go back to the comment. I said that I was going along mostly agreeing with your column until you produced the crap, and I cut and pasted the paragraph that I found offensive. I maintain that you should have left it out since it reflects ignorance of the public-service employment practices.

      The best place for NIS is in the Public Service. You should have been calling for the elimination of political interference in the Public Service generally and let the expert public officers get on with managing the Service.


  51. David November 26, 2017 at 12:32 PM #
    “@Walter

    Not to digress but are you willing to ask your colleague on the show you both host on the CBCTV8 if he settled the outstanding mobile bill at the NUPW accrued while he was president?”

    David,
    What do you mean by “not to digress”? Clearly you are digressing. You could have used the approach that Burton Hinds used to employ in the Truth newspaper: I am minding my business but……….

    Anyhow, I will find out from Walter Maloney if the “cell phone” bill has been paid by the
    subscriptions of the members of NUPW or by subventions from government (taxpayers’ money).
    You do know that it is possible that whereas Walter Maloney inherited McDowell’s seat on the severance payment tribunal, McDowell could have inherited Maloney’s phone bill, don’t you? But I do digress, Sorry.

    LOL


    • @Walter

      This is a serious matter. Does Walter Maloney sit on the NIS Board? Is he a talk show host on public media outlet? Personal integrity is something we need to hold people to account.


  52. One of the great failures of the social partnership was to put private sector members on committees and quasi-government boards etc, who know nothing about about governance . They are the ones who believe that sending public home public servants is the ONLY answer to our problems. Some of these private sector McGuffies are unfit to assist in government policy. They usually end up threatening to fire workers if they do not get their way. These are mainly people who inherited wealth and carry a very negative opinion of the working class. No wonder then that we can’t get anything right because we are still seeing essentially retail operators as business icons. In fact many of them have very little to offer, a point that is completely lost on people like Donville Innis. You cannot put people who are essentially risk averse in the forefront of transforming or restructuring an economic system. . We have now reached the stage of even copying Black Friday , and other North American marketing/sales gimmicks. People ask why we have not produced anything that represents our heritage and it simply has to do with the sad fact that we are looking to people who brought us to this point to rescue us.
    Since Don Blackman skipped town, there has not been one politician to even address the elephant in the room. We hailed Rockers Alley and romanticize about a Barbados that has long gone and now the great grandchildren of those who built this rock are chased from pillar to post , in search of opportunity and being called lazy and non -productive. An essentailly Black public service must now be the sacrificial lamb and further condemned to poverty because those who have the wealth do not intend to take chances with all the profits they have made for the better part of close to four hundred years. They intend to prolong the current economic system , with the occasional window dressing and superficial nonsense for as long as they can, knowing full well that we will be left to scramble for the collar and tie jobs while young people , in other countries are going to work in expensive jeans and are already millionaires.
    We have been reduced to pseudo intellectuals and nothing more. Many of our children will be without the skills to challenge the new technological economic order and the day will come when they will have MBAs but are maids and porters.


  53. @ Walter
    Man give it a rest with provoking Caswell nuh!!!

    …mean after Bushie dug deep to make peace, the two o’ wunna still with this nit picking?

    EVERYBODY knows that the way to get Caswell’s goat is to criticise a worker for ANYTHING except for their failure to join Unity…

    You spoke of ‘persons from top to bottom having no understanding of their roles..”
    SURELY you expected a Caswell attack….!!

    You were never that good at chess, but Bushie really thought that you had given Caswell that rook to eat – expecting that he would then bring his queen out on the attack (which he did with devastating effect…) – with sordid details about software scams, internal thievery and pure inefficiency.

    Boss, all you need to do now is play for a stalemate … and start article number 2.


  54. Caswell Franklyn November 26, 2017 at 1:14 PM #
    “Walter

    The best place for NIS is in the Public Service.”

    Caswell,
    I do not agree, but I respect your view.

    With respect to governance of the NIS, here is what the foreign actuarial firm Morneau Shepell said on page 6 of the 15th actuarial review:
    “Performance deficiencies arising from inadequate human resource skills and lack of accountability indicate the need for a review of the department’s organizational structure….”


  55. @ William…
    Caswell did not even fart on Bushie…
    That’s a gem !!!!
    Ah can’ believe you don’ know why, Bushie. LOL.
    +++++++++++++++++++++++++++++++++++++++
    First, Caswell is a REAL funny fella… not ‘funny’ as in ‘ha ha’ … funny as in ‘strange’…
    It just pisses him off that Bushie knows so much about him… 🙂

    Secondly,
    Skippa, if Bushie was to waste time trying to work out why people don’t like him or pay him any damn mind, then there would be no time left to live.
    It is the story of Bushie’s life….

    But guess what…?
    BT don’t give two shits.
    Just drive the whacker in their donkeys, and move on to the next brass bowl weed…

    On another note, Bushie has to agree with your 1.22 p.m.
    BUT…
    You have to be careful.
    You trashed the BLP
    You trashed the DLP
    You now trashed the private sector…
    Boss … if you miss and cuss the Church now,
    …you know that you and Bushie will be at one…??!!
    You are just one pip from brass bowl land….

    LOL
    ha ha ha


  56. The single biggest contributor to the downward slide and decline of Barbados, as a nation, is the misallocation of its human resources. From top to bottom, in private and public, we see and feel the deleterious effects of persons holding critical positions who have no basic understanding of what their roles are, and who are far less interested in knowing how to perform them.

    @Walter
    In simple language, this is called incompetence, one of the biggest causes of the decline of the nation as you rightly point out. But it is not the biggest.
    In the case of the NIS, the need for up-to-date technology with competent staff is a good starting point. However, the hybrid NIS is not fit for purpose.
    No matter how competent the staff, the professional integrity of the chairman and board, and the humility of the politicians, the scheme is a misfit for a modern economy.
    We need to hypothecate the various functions of the scheme, separating out the welfare function from the long-term savings function.
    With the latter, we need to introduce a compulsory savings plan (Chile did this in 1981 and the rest of the civilised world has followed). Let us have a national discussion about long-term savings (by calling it pensions it puts off young people), before designing an appropriate scheme.
    In terms of the present scheme, its investment policy exposes the enormous ignorance not only of the people running the scheme, but of those who want to intervene (politicians and the public intellectuals).
    I am not yet convinced that Dr Robinson knows anything about the practicality of investment, even though he may have the paper qualifications. If he does, he is hiding it very well.
    Recently he indicated that the poor return on investments is due to the underperformance of the markets, and was allowed to get away with such patent nonsense.
    I wrote an outline of awn asset allocation policy, which is still legitimate and which I stand by. But, typically, only one fool became involved to question my reference to ETFs; it was the same person that said that Logic was not central to philosophy, so did not matter.
    Dr Robinson, however, need to explain why, for the period up to the end of June, the S&P 500, the world’s leading market, has made returns of 17.9 per cent, 14.6 per cent and 7.2 per cent for the one, five and ten years respectively.
    This clearly indicates to me, that such returns in a global low-interest environment must be blamed at the asset allocation policies of the scheme.
    My suggestion is Dr Robinson must lift the bonnet and get his hands dirty, having a theoretical knowledge of the global investment markets is not enough. Does he have regular client/adviser meetings with Oppenheimer? If so, what are the outcomes? Publish them on the NIS website.
    Dr Robinson and his colleagues should also look at the index tracking of some leading endowment funds, which are making spectacular, if slightly less stellar, returns.
    Finally, let me go back o an issue we discussed some time ago. If COW Williams, or Apes Hill or any of his companies approached the NIS for funding, the obvious questions is why?
    This presumably is a commercial operation and should be measured as such, not just by look at the balance sheet, but as all good financial analysts do, by also looking beyond the balance sheet.
    First, if a commercial company needs funding, it should go to the markets, either banks, non-banks, issuing shares and bonds or raising the funding privately.
    If taxpayers’ money was to be invested it shou8ld have been on a debt for equity basis. None of these seem to be the case.
    This I suggest is further evidence of NIS incompetence; it is also a reason to question the professional integrity of Dr Robinson, since if he objected to lending this money and it was forced through by the politicians he should have resigned immediately.
    If it was a policy that he agreed with, then he owns the Barbadian public an explanation, and even more an apology.
    To discuss the NIS as if it is fit for purpose is disingenuous since it is not. We need tro go back o basics and start again.


  57. Bush Tea November 26, 2017 at 1:24 PM #
    “@ Walter
    Man give it a rest with provoking Caswell nuh!!!

    …mean after Bushie dug deep to make peace, the two o’ wunna still with this nit picking?

    EVERYBODY knows that the way to get Caswell’s goat is to criticise a worker for ANYTHING except for their failure to join Unity…”

    Bush Tea,
    Actually I was not nitpicking.
    NIS belongs to all of us so I wanted BU readers to gain further clarity with respect to some of the points I made in the article, or become exposed to viewpoints which are different from mine.
    In my comments this morning, I sincerely thanked Caswell for reinforcing and amplifying some of the points made in the article. To my mind, he contributed significantly to its publlc education goal. Others did too, and I want to take this opportunity to thank them also.
    With just a teeny bit of “provocation”, I managed to get Caswell to express his opinion that the NIS should remain within the public service. His position on that matter is different from yours, or Sunshine Sunny Shine’s, or mine. It shows us that regardless of how right we think we are in our stance on a particular matter, others feel just as convinced that we are wrong, or their personal “agenda” might force them to vote otherwise.
    I made sure that I let Caswell know that I respected him for his different viewpoint.

    Naturally, they are some on BU who will describe my tactics as provoking, nitpicking, or sniping. I respect their viewpoint also and am willing to receive whatever licks they want to give me. All of this must be expected once you enter the realm of public education, my friend.


  58. @ Hal Austin November 26, 2017 at 1:59 PM
    “If taxpayers’ money was to be invested it shou8ld have been on a debt for equity basis. None of these seem to be the case.
    This I suggest is further evidence of NIS incompetence; it is also a reason to question the professional integrity of Dr Robinson, since if he objected to lending this money and it was forced through by the politicians he should have resigned immediately.
    If it was a policy that he agreed with, then he owns the Barbadian public an explanation, and even more an apology.
    To discuss the NIS as if it is fit for purpose is disingenuous since it is not. We need tro go back o basics and start again..”

    Well put, Hal!

    We know you don’t need any validation from the anonymice but we must give academic Jack his intellectual jacket when he deserves to wear it.

    Commonsense still has a place in your heart.

    Dr. JR’s tenure in the Chair has made as much difference to the effective functioning of the NIS as Dr. Worrell’s stint at the CBB to the management of the Bajan economy.

    Just a waste of academic energy in the real world of business where acumen and perspicacity are the parents of commonsense.

    It therefore stands to reason that we ought to stop putting square academic pegs in round business holes and break that recurring decimal of the Peter Principle.

    But there will always be exception to the rule.
    Take Jeff C., for example.
    We ought to utilize his gift of commonsense and academic achievements to create a synergy of managerial infusion fit for purpose in the tough world of business.

    Why not let him sit in the Chair of the NIB? Then we might see some positive difference in the functioning of that strategically important national financial institution.


  59. Actually, whether NIS remains in the Public Service or not is not the issue.
    The ONLY issue is really intelligent governance, and a commitment to merit.

    CLICO was not in the Public Service…..


  60. ` They intend to prolong the current economic system , with the occasional window dressing and superficial nonsense for as long as they can, knowing full well that we will be left to scramble for the collar and tie jobs while young people , in other countries are going to work in expensive jeans and are already millionaires.

    We have been reduced to pseudo intellectuals and nothing more. Many of our children will be without the skills to challenge the new technological economic order and the day will come when they will have MBAs but are maids and porters….`

    while you are perfectly right in putting the blame where it belongs…the ministers should be in prison for allowing it to happen….

    …..Ronald Jones had the opportunity to effectively utilize exhibition/schoars from 2010…given the world of new technology those who left the island have been exposed to…..

    ..they could have done wonders for the economy in the last 7 years, but the ministers are all too busy playing petty yardfowl politics and yardboys and yardgirls for the few…

    …a 7-10 year opportunity wasted.


  61. I respect Mr Blackman’s scholarship but Mr Franklyn’s views are absolutely correct. Once a well managed scheme with up to date monthly,quarterly and annual administrative and financial reports until the degree people took over along with the usual political interference although it is my view as well that certain political decisions in 1981 which impacted on the accounting for the various funds and investments did add to the confusion.


  62. @ Charles
    Those seem to be Walter’s views too..
    Question is – what can be done to guarantee that even if we manage to fix the problem again, some pack of idiots won’t just come and mash um up in ten years time…?


  63. Hal Austin November 26, 2017 at 1:59 PM #
    “@Walter
    We need to hypothecate the various functions of the scheme, separating out the welfare function from the long-term savings function.
    With the latter, we need to introduce a compulsory savings plan…”

    Hal,
    In order not to become a ward on society in his retirement years, the individual is supposed to position himself where he can reap the benefits of a three-pronged approach: NIS, personal savings, and employer provided pensions.

    Under the current NIS, high income individuals give up some of the returns that ought to come their way (individual equity), so that the low income workers can be provided with a deemed minimum level of retirement income (social adequacy).

    You seem to be suggesting that the total contributions paid into the NIS on behalf of a worker should be bifurcated so as to provide two type of benefits:
    1. A mimimum floor of income (using the existing NIS social adequacy approach)
    2. An account with accumulated contributions and investment returns based on the contributions made for each worker (individual equity).

    The approach you suggest is worthy of consideration.


  64. David November 26, 2017 at 1:29 PM #
    “@Walter

    This is a serious matter. Does Walter Maloney sit on the NIS Board? Is he a talk show host on public media outlet? Personal integrity is something we need to hold people to account.”

    David,
    Woooo beck……
    Wait a minute. I was kidding around before so let me sit up straight and take this matter seriously. The way you want me to.

    “Does Walter Maloney sit on the NIS Board?”
    The last time I checked the NIS website, it listed nine members of the NIS Board. Mr. Maloney was not one of the nine.

    “Is he a talk show host on public media outlet?”
    Yes. He co-hosts the Walter.2 programme with me on CBC TV8, and 100.7 FM radio. The show is aired from 11 a.m. until 1 p.m. on Sundays.

    “Personal integrity is something we need to hold people to account.”
    I agree with you, but I am finding it extremely difficult to make a connection between this statement and the two questions above.

    I have known Walter Maloney since we were “little boys in Khaki” at Combermere. I will forever vouch for his personal integrity until credible evidence is produced to make me do otherwise.

    As Winston J Messiah used to say: “I sincerely hope that I have helped you.”


  65. @Walter,
    Thanks for thinking my recommendation worthy of consideration. But it is more complex and cutting edge than that.
    Yes, a bifurcated fund, but with the social welfare arm being means tested. The principle behind it is that of the social safety net.
    The long-term savings arm would be compulsory, starting at about 5 per cent of the worker’s pay packet, rising to 20 per cent within five years.
    (Some time ago I appeared on BBC Radio Five Live with Steve Webb, who later became pensions minister, and David Willetts, now head of the Resolution Foundation think-tank but at the time Shadow Pensions minister for the Tories. I said then that workers should be compelled to save 20 per cent of their income and was shouted down. Now a number of leading UK pensions voices are suggesting the same).
    Any how, the investment mechanism for the fund would be separate and independent of government, which must be written in to the legislation. I would like to see the creation of a Sovereign Wealth Fund, which would manage the fund.
    There will be four intervention points for which the beneficiaries could withdrawn up to 20 per cent of their savings (and which must be repaid within five years) – to pay university fees; marriage; to buy a home; and at the point of death.
    But before its introduction, however, a widespread public debate is very important. My apologies for mentioning maths to you, but consider the average beneficiary: leaving university at age 22; 40 years’ contributions; retirement at age 67; and retirement for an average of 20 to 30 years.
    It is a big responsibility and a policy that cannot be changed every time the government changes, so we must get it right.
    An occupational pension scheme, which would also be compulsory, is separate.
    But Walter, it is a big task and not one that untrained politicians or generalist civil servants should be allowed to design or manage on their own.


  66. charles skeete November 27, 2017 at 11:33 AM #
    “… it is my view as well that certain political decisions in 1981 which impacted on the accounting for the various funds and investments did add to the confusion.”

    The NIS was set up to provide statutory benefits to participants, BASED ON THE PAYMENT OF CONTRIBUTIONS.
    Old age pensions, paid to Barbadians age 65 and over who were not entitled to receive monthly pensions from NIS, were appropriately paid and administered by the government’s Welfare department.
    For reasons known only to himself, Tom Adams moved the administration of these old age pensions from the Welfare department and inappropriately placed them under NIS, where they were given the oxymoronic title of “Non-contributory pensions”.


  67. Hal Austin November 27, 2017 at 2:15 PM #
    “@Walter,
    My apologies for mentioning maths to you…..”

    Hal,
    You don’t have to apologize for mentioning maths to me.
    I took the 11+ exam at ten years old, and before then, I had mastered fractions and decimals.

    LOL

    PS: I will take a closer look at the ideas you have put forward after lunch.


    • @Walter

      You promised to check if Walter 2 paid the cellphone bill.

      On Monday, 27 November 2017, Barbados Underground wrote: >


  68. David November 27, 2017 at 5:02 PM #
    “@Walter

    You promised to check if Walter 2 paid the cellphone bill”

    David,
    Huh?

    Two simple observations have stirred my sixth sense to the point where I believe that something is amiss:
    1. I made that promise to you just yesterday. I have not done or said anything to justify this terse reminder.
    2. When juxtaposed with the previous comment and questions you directed at me at 1:29 pm yesterday, this is a non sequitur. Your last two attempts at communicating with me, when combined, make no sense whatsoever.

    I have known Walter Maloney practically all of my life, and as I have said before, I can vouch for his personal integrity. I do not know you. I cannot vouch for yours.

    Given your puzzling behaviour, I have decided to build a wall of protective silence around this issue,


    • @walter

      Sorry but we don’t play games. You promised to ask Walter, a person we hazard to guess you have on Whatsapp or in your contact list. You vouching for Walter Maloney’s integrity is irrelevant. Caswell has posted exhaustively on the issue of Maloney’s abuse of his mobile phone as president. It behooves him to clarify the matter. You can build a wall around the matter if you wisk, it simply means BU will continue to ask the question of cellphone bills until clarified.


  69. David November 27, 2017 at 6:55 PM #
    ‘@walter
    Sorry but we don’t play games…….
    Caswell has posted exhaustively on the issue of Maloney’s abuse of his mobile phone as president. It behooves him to clarify the matter.”

    David,
    Like you, I do not play games.

    It behooves you to get your answers from Caswell.


    • @Walter

      Have to record that your response to a simple inquiry whether Walter Maloney repaid cellphone debt he was accused of running up as president of the NUPW is strange but it is your right. We will pursue the matter via other channels.


  70. @ David,

    Walter Blackman wrote ” I have known Walter Maloney since we were “little boys in Khaki” at Combermere.
    I will forever vouch for his personal integrity until credible evidence is produced to make me do otherwise.”

    Real real friends protect each other for as long as possible. lol


  71. David November 27, 2017 at 7:14 PM #
    “@Walter
    Have to record that your response to a simple inquiry…….. is strange but it is your right.”

    David,
    Thank you very much for understanding.
    My name was never linked to this issue. It is best that we keep it that way.


  72. “Walter Blackman November 27, 2017 at 2:24 PM #
    charles skeete November 27, 2017 at 11:33 AM #
    “… it is my view as well that certain political decisions in 1981 which impacted on the accounting for the various funds and investments did add to the confusion.”

    The NIS was set up to provide statutory benefits to participants, BASED ON THE PAYMENT OF CONTRIBUTIONS.
    Old age pensions, paid to Barbadians age 65 and over who were not entitled to receive monthly pensions from NIS, were appropriately paid and administered by the government’s Welfare department.
    For reasons known only to himself, Tom Adams moved the administration of these old age pensions from the Welfare department and inappropriately placed them under NIS, where they were given the oxymoronic title of “Non-contributory pensions”.”

    I see nothing wrong with that. In my view that was a master stroke even though it was never a big charge to the consolidated fund anyhow because of the purported means testing and people found it infradig to go and line up for the pittance as well. Me and my bosom pal coming from school used to hide from our school mates when we stopped off in the welfare office in Country road opposite the NHC to draw our grandmothers’ pittance.In addition, when Mr Adams incorporated the welfare benefit into the NIS he increased the contribute rate albeit marginally and in later years made it inaccessible to those who could not prove why they did not contribute to the scheme. Problems with the financials began in 1981 with the sudden introduction of the health and transport levies and no proper accounting system in place to accomodate the transactions in the records.


  73. @Hal Austin November 27, 2017 at 2:15 PM “There will be four intervention points for which the beneficiaries could withdrawn up to 20 per cent of their savings (and which must be repaid within five years)
    ONE: to pay university fees
    TWO: marriage
    THREE: to buy a home
    FOUR: at the point of death.

    I am surprised that you did not include reproduction as one of the intervention points, since no pension fund can survive without the production of new young contributors. Surely child bearing and child rearing are as important, perhaps more important than university education, marriage, and house buying. And surely newborns are much more in need of money than dead people.


  74. @William Skinner November 26, 2017 at 1:22 PM “These are mainly people who inherited wealth and carry a very negative opinion of the working class.”

    People who inherited their money having a negative opinion of people who actually WORK for theirs.

    Irony of ironies.

    We then lets take away their inherited wealth, after all they did not WORK for it, and then we can see how well they will get long when like me they have to start their adult lives with exactly zero/0 in their pockets.

    The we will see who is smart and hard working.


  75. Dr. Simple Simon Phd. November 28, 2017 at 10:11 PM #

    Reproduction is important, but not key to a long-term savings plan. I will like to see families with more than two children losing benefits.


  76. ” As a country, Barbados is now unable to withstand the slightest scrutiny by independent international agencies. “……..” Public administration in our country has become so woeful and pathetic that, according to Morneau Shepell Ltd, ”

    Conservative Leader Andrew Scheer is calling on federal Finance Minister Bill Morneau to

    resign amid questions about alleged ethical lapses. ( but that is just politics )

    So who is scrutinizing the independent international agencies ?????


  77. Dr. Simple Simon Phd. November 28, 2017 at 10:19 PM #

    Chuckle…..yup……animal farm……why dont you learn from history…..power/wealth corrupts, absolute power/wealth corrupts absolutely.

    It does matter who has the wealth if it is a fool they will loose it and if they have sense they will protect it unto death.


  78. Hal Austin November 26, 2017 at 1:59 PM #

    The single biggest contributor to the downward slide and decline of Barbados, as a nation, is the misallocation of its human resources. From top to bottom, in private and public, we see and feel the deleterious effects of persons holding critical positions who have no basic understanding of what their roles are, and who are far less interested in knowing how to perform them.
    @Walter
    In simple language, this is called incompetence, one of the biggest causes of the decline of the nation as you rightly point out. But it is not the biggest.
    In the case of the NIS, the need for up-to-date technology with competent staff is a good starting point. However, the hybrid NIS is not fit for purpose.
    No matter how competent the staff, the professional integrity of the chairman and board, and the humility of the politicians, the scheme is a misfit for a modern economy.
    We need to hypothecate the various functions of the scheme, separating out the welfare function from the long-term savings function.
    With the latter, we need to introduce a compulsory savings plan (Chile did this in 1981 and the rest of the civilised world has followed). Let us have a national discussion about long-term savings (by calling it pensions it puts off young people), before designing an appropriate scheme.
    In terms of the present scheme, its investment policy exposes the enormous ignorance not only of the people running the scheme, but of those who want to intervene (politicians and the public intellectuals).
    I am not yet convinced that Dr Robinson knows anything about the practicality of investment, even though he may have the paper qualifications. If he does, he is hiding it very well.
    Recently he indicated that the poor return on investments is due to the underperformance of the markets, and was allowed to get away with such patent nonsense.
    I wrote an outline of awn asset allocation policy, which is still legitimate and which I stand by. But, typically, only one fool became involved to question my reference to ETFs; it was the same person that said that Logic was not central to philosophy, so did not matter.
    Dr Robinson, however, need to explain why, for the period up to the end of June, the S&P 500, the world’s leading market, has made returns of 17.9 per cent, 14.6 per cent and 7.2 per cent for the one, five and ten years respectively.
    This clearly indicates to me, that such returns in a global low-interest environment must be blamed at the asset allocation policies of the scheme.
    My suggestion is Dr Robinson must lift the bonnet and get his hands dirty, having a theoretical knowledge of the global investment markets is not enough. Does he have regular client/adviser meetings with Oppenheimer? If so, what are the outcomes? Publish them on the NIS website.
    Dr Robinson and his colleagues should also look at the index tracking of some leading endowment funds, which are making spectacular, if slightly less stellar, returns.
    Finally, let me go back o an issue we discussed some time ago. If COW Williams, or Apes Hill or any of his companies approached the NIS for funding, the obvious questions is why?
    This presumably is a commercial operation and should be measured as such, not just by look at the balance sheet, but as all good financial analysts do, by also looking beyond the balance sheet.
    First, if a commercial company needs funding, it should go to the markets, either banks, non-banks, issuing shares and bonds or raising the funding privately.
    If taxpayers’ money was to be invested it shou8ld have been on a debt for equity basis. None of these seem to be the case.
    This I suggest is further evidence of NIS incompetence; it is also a reason to question the professional integrity of Dr Robinson, since if he objected to lending this money and it was forced through by the politicians he should have resigned immediately.
    If it was a policy that he agreed with, then he owns the Barbadian public an explanation, and even more an apology.
    To discuss the NIS as if it is fit for purpose is disingenuous since it is not. We need tro go back o basics and

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