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Former Chairman of the NIS Jepter Ince Gambled with NIS Funds and L@#*

Walter Blackman is an Actuary and responded to the following comment by the blogmaster as under. It may seem a trivial observation to make but make it the blogmaster must. How did Jepter Ince qualify to be appointed Chairman of the NIS?   David October 5, 2018 12:53 PM “Thanks for lending your expertise to…

,

Walter Blackman is an Actuary and responded to the following comment by the blogmaster as under.

It may seem a trivial observation to make but make it the blogmaster must. How did Jepter Ince qualify to be appointed Chairman of the NIS?

 

David October 5, 2018 12:53 PM
“Thanks for lending your expertise to this matter Walter. Have you heard your professional colleague from Eckler on the matter? She highlighted all the issues we have exhausted in this forum including the lack of audited financials………”

David,

 

I have been following the two recent NIS blogs on BU, and yes, I also read the comments attributed to Ms.Lisa Wade, Principal and consulting actuary at Eckler.

All of the issues at NIS boil down to a chronic state of poor governance, poor management, inefficient use of inefficient technology, and ignorance and incompetence flowing down from on high.

 

Speaking of ignorance flowing down from on high, I was a guest on VOB’s “Tell it like it is” programme one evening around April 2009. A caller mentioned that NIS funds were being targeted to build offices in Warrens for government workers. Government, in turn, was promising to pay a handsome rent. The caller asked for my view on the matter.

 

My view was that the NIS needed to keep its funds as far from government, or any government-related project, as possible. I informed the listening public that the actuary had recommended less government-related investment of NIS funds, not more. I knew for sure that all of the talk about handsome rents will eventually lead to the issuing of useless government paper in the long run.

In the twinkling of an eye, Jepter Ince, Chairman of the NIS at the time, came on the line and blew over the airwaves of Barbados and the Eastern Caribbean like a destructive hurricane.

 

“You Walter Blackman are unprepared and have come on this program tonight trying to fool and mislead Barbadians. The NIS Fund is going to get a return of 6% or more on its investment in this project.You don’t know what you are talking about”, he bellowed.

Just to indicate how dangerous (sometimes fatal) it is for a country when people hold important positions, but these people know not that they know not, listen to the actuary’s words on page 4 of the 15th actuarial review:

“

 

 

After falling behind on its

contributions and rental payments, the Government of Barbados covered some of its arrears by issuing Treasury notes and debentures to the NIF.”

Do you think that Jepter Ince gives two hoots about the useless government paper that goes into the NIF whilst cash is continuously taken out?

Have all the nails needed for the NIS coffin been already hammered into place?

223 responses to “Former Chairman of the NIS Jepter Ince Gambled with NIS Funds and L@#*”

  1. Vincent Codrington Avatar
    Vincent Codrington

    Since IADB is a development finance institution ,I believe it is to finance economic transformation( i.e new industries}.

  2. Hal Austin Avatar
    Hal Austin

    @Vincent Codrington,

    Is this part of the government’s qualitative easing? I thought the BLP government had put it abroad that the CDB and IADB had no reason to carry out due diligence since the IMF had approved a loan. Glad to see the IADB has satisfied itself that the loan is legitimate. Plse remember a loan is debt.

  3. WARU Avatar
    WARU

    So is it true that Cow pays no NIS for his employees but is always the first to believe has a right to dip his blighted hands in the NIS Pension fund belonging to the elderly..what kind of idiots ran that clown show….over the years.

  4. WARU Avatar
    WARU

    While people remember Mia’s empty promises on Facebook.

    “It has been over 5 months since Ms. Mia Amor Mottley and her Barbados Labour Party (BLP) won the 2018 elections; making her the first female Prime Minister of Barbados. While campaigning Ms. Mottley drew the nation’s attention to a case that involved a young mother who had been recently charged with causing the death of her son due to reckless driving. If you can recall the words and actions of Ms. Mottley, she said the fact that this mother had been charged in this instance was unfair. She also pledged the support of the BLP’s legal team to assist the mother in question.

    Just a little memory refresher: Ms. Felisha Holder on her way home from her son’s graduation, crashed into a structure outside Coverley Gardens. The accident claimed the life of her son and seriously injured her daughter. The three of them were in the car travelling home. The outrage of Ms. Mottley and the public at the time, was based on the fact that the structure Ms. Holder struck was deemed illegal and dangerous to motorist using that stretch of the ABC Highway. The order to remove the structure was ignored and the prediction of the authority that deemed the structure dangerous had come true. The structure had claimed a life. Many were and are still of the opinion that race and privilege were the reasons the structure was never moved and why even though the structure had claimed a life, still nothing was being done. The structure still stands waiting to claim another life.”

    In all seriousness due to the unconscionable actions of the state, Ms. Holder continues to attend court approximately every two months as she is forced to relive her family’s tragedy constantly. This matter also negatively impacts her daughter who as mentioned before was also in the car when the accident occurred and sustained serious injuries.

    This article seeks to bring to light the continued injustice to Ms. Holder, the empty promise of the now Prime Minister Ms. Mia Amor Mottley and the deafening silence of those who once said they stood with Ms. Holder in this matter. It also seeks to speak to the disregard and seeming disdain shown to the AHF by the office of the DPP in not even acknowledging its petition and request to have the case discontinued.”

  5. Tron Avatar
    Tron

    I just read “FSC worried about effect of debt strategy” or so. What a bunch of hypocrites! They stayed silent when Big Sinck forced his bitter sh.. medicine down the taxpayer´s throat for ten years.

    What a useless institution.

  6. Simple Simon Avatar
    Simple Simon

    @Gabriel October 5, 2018 10:17 PM “I join those who disagree with this Barrow instituted State Funded Secondary Education nonsense back in 1961.Its one of the most backward steps Barbados has taken since the landing on the Hole in 1627.”

    You know that ALL modern successful states provide tax-funded [not free, don’t even use the word free around me. how can you call it free when I was paying up to $30,000 per year in various taxes] secondary education.

    If we abandon [your term free, my reality, tax-funded] secondary education in fifty years Barbados time will be where it was in the 1930’s, which is where Haiti is now, where people like my brother were dying of malnutrition, and like my father hospitalized for 10 WEEKS with typhoid.

    The poorest place in the Western Hemisphere.

    And perhaps the world.

    Is that what you really want for Barbados?

    Some of you who hanker for the “good old days” don’t really understand how bad it was.

    I have a friend whose mother in the “good old days” gave birth to 12 children, and raised 1 to adulthood.

    That is how bad it was. YOUNG BAJANS DIED.

    Barbados’ most backward step was the period of slavery, 1627 to 1838.

    Education young Bajans is one of the most POSITIVE things even done in all of Barbados’ history.

  7. Simple Simon Avatar
    Simple Simon

    Some of you are only angry about “free”, that is tax-funded secondary education because now your children have to compete for places with the children of the maids and the gardeners, and even with the children abandoned by their parents and who live in the children’s homes.

    Oh how you wish for the good old days when your duncy, neglected by you, children were guaranteed a place at Harrison College, or Queen’s College or Combermere. When your children did not have to compete. When you could pick up the phone, because only you had a telephone, when you could pick up the telephone, call the headmaster, and guarantee a place for your spawn.

  8. Simple Simon Avatar
    Simple Simon

    @WARU October 6, 2018 2:43 AM “…Ram Merchandani…”

    You know that Ram Mirchandani ia a MAN right?

  9. Simple Simon Avatar
    Simple Simon

    @WARU October 6, 2018 3:07 AM “PLT..if you knew Barbados well…you would know that most of these who studied outside …WERE NOT ALLOWED TO…still aren’t. ”

    Nonsense.

    What is wrong with you people…

    that you seem to hate competition so?

    If you want work, you have to hustle your butt in order to find work, then, when on the job, you have to perform. In other words you have to be prepared to COMPETE. This my children is a capitalist world.

    To stay thousands of miles away and expect the government to find a job for you is laughable.

  10. Simple Simon Avatar
    Simple Simon

    @David October 6, 2018 5:16 AM “There are the basic values Bajans use to go with to inform how we lived our lives; honesty, empathy, kindness etc. Now it is about naked greed to mirror what is happening in North America and other societies that are of the impersonal kind.”

    Old Bajan Saying “If you sell all that you have, you will have to buy all that you want.”

  11. Tron Avatar
    Tron

    @ Simple Simon October 6, 2018 7:26 PM

    Free education is excellent, OK? I never said I am PRO university fees.

    However, not everybody needs to enter UWI, especially when the taxpayer pays the bill. I am not talking about racial or social segregation. There must be some ENTRY exam at UWI sorting out the least able applicants. Persons like Big Sinck or Jester Ince. Or do you think their behaviour and mind is within the norm?

    There should be a numerus clausus for law and possibly for other subjects as well. Barbados has already 1,100(?) lawyers, ways too much. We do not need 1,500 or 2,000 crooks in Bim.

    All I ask is a combination of “free” education plus entry exam at UWI plus a nc for certain faculties.

    What is your answer, Simple Simon?

  12. NorthernObserver Avatar
    NorthernObserver

    enjoyed seeing you refer to the last administration….”p3rsent govt is following the same downhill path of creating an unsustainable economy through high levels of borrowing”
    My point…..yes the DLP led the island on a downhill path. Glad to see you finally admit it. And yes this current B group is struggling. No question.

  13. WARU Avatar
    WARU

    “that you seem to hate competition so?

    If you want work, you have to hustle your butt in order to find work, then, when on the job, you have to perform. In other words you have to be prepared to COMPETE. This my children is a capitalist world.”

    I don’t know about you, but most people prefer their competition in a country much bigger then 21 miles long and 14 miles wide, where the corruption, nepotism and yardfowlism are not so concentrated…not everyone likes being marginalized, sidelined, muzzled and stifled…to such a degree that they are unable to process.

    Most people in the real world get hired based on their knowledge, experience. intelligence and merit, it is demeaning and degrading being hired because you are a yardfowl..

  14. WARU Avatar
    WARU

    “@WARU October 6, 2018 2:43 AM “…Ram Merchandani…”

    You know that Ram Mirchandani ia a MAN right?”

    A dead man, but that is semantics, he was her husband…, that is what we call the old witch in certain circles when we can’t remember the one eye woman’s name…

    ……hope she was not using those kids for slave labor to clean her old filthy slum hotel when she got no money for rent, because bajans particlarly the lowlifes in government are shitty enough to know this and say nothing AND do nothing….

  15. WARU Avatar
    WARU

    “Barbados’ most backward step was the period of slavery, 1627 to 1838.”

    Ah think ya got that backward…that was the beginning, no Africans were on the island making decisions in 1627…they were brought as slaves…

    ……African Bajans started making decisions regarding their own future, development and enrichment of their own people…or were supposed to in 1966…

    …so far, each election cycle…the decisions coming out of parliament keep getting worse and worse…for the majority population.

  16. Simple Simon Avatar
    Simple Simon

    @Talking Loud Saying Nothing October 6, 2018 9:24 AM “Let us all agree that Mia and her party are a symbol of all that is wrong in Barbados.”

    NO. We do NOT all agree. So please do NOT put words in our mouth.

    @Talking Loud Saying Nothing October 6, 2018 9:24 AM “Mia has just made an announcement that she would like to see doubling of growth within our tourism sector.”

    Why do you make this seem like a bad thing? If growth in the tourism sector doubles would this not likely lead to an increase of jobs, perhaps half the unemployment rate. Would you prefer to see the unemployment rate double?

    @Talking Loud Saying Nothing October 6, 2018 9:24 AM “The Barbadian diaspora are asking for Mia to step down, to retire her political party.”

    But there was an election on May 24th, and those Bajans who live here voted for Mia and the BLP 30-0. You want to undo the people’s decision? Why?

    @Talking Loud Saying Nothing October 6, 2018 9:24 AM “and for an ethical group to step forward which should and must have the support of the majority of Barbadians in order to take over the affairs of state.”

    And who are these anonymous ethical people? And since they don’t live here, work here, pay taxes here, why do you believe that they have the right to take over the affairs of state? Who called them?

    Besides you?

    Mia and the BLP already has the support of the majority of Bajans. Tell the amorphous, anonymous, “ethical group” to GET LOST.

  17. Simple Simon Avatar
    Simple Simon

    @Tron October 6, 2018 11:51 AM “… pull him to the People´s Court in front of General Bussa´s monument, a court not relying on corrupted statutes, designed by QCs to protect criminals, but on ancient West African custom laws for traitors.”

    You never tire of instigating violence do you?

    We will not oblige you.

    @Tron October 6, 2018 11:51 AM “…ancient West African custom laws for traitors.”

    Why don’t you stop telling lies on ancient West Africans?

  18. Simple Simon Avatar
    Simple Simon

    @Wily Coyote October 6, 2018 12:25 PM “…ciaos.”

    CORRECTION: chaos.

    I wish semi-literate people would stop assuming that they can give advice to their betters.

  19. Simple Simon Avatar
    Simple Simon

    @Tron October 6, 2018 7:51 PM “…ways too much.”

    CORRECTION: Way too many.

  20. Simple Simon Avatar
    Simple Simon

    @Tron October 6, 2018 7:51 PM “not everybody needs to enter UWI, especially when the taxpayer pays the bill. I am not talking about racial or social segregation. There must be some ENTRY exam at UWI sorting out the least able applicants.”

    Not everybody enters UWI. I didn’t. Some of my children did. Some of my children did not.

    There is no need for a UWI entry exam. UWI currently has very sensible entry requirements. Creating an entry exam will cost money. Who will pay? The taxpayers? Or your favourite fairly godmother? I trust that you are aware that Harvard, Yale, MIT, Oxford, Cambridge, the University of Toronto, the Sorbonne, the London School of Economics, etc., etc., that is all of your favourite “big dog” foreign universities accept applications from Caribbean students, and that these acceptances are based on the CXC and CAPE exams created and administered by the good people at the Caribbean Examinations Council, many of them UWI graduates.

    So what is good enough for Harvard, Yale, MIT, Oxford, Cambridge, the University of Toronto, the Sorbonne, the London School of Economics, is good enough for me.

    And should be good enough for too.

    As for Jepter and Chris, regretfully i have never had the opportunity to see their secondary school or university transcripts, so I cannot comment on their academic credentials.

    But what I can tell you is that on May 24th the people of Barbados told us quite clearly what they think of Chris.

    I do not question the excellent judgement of the good people of Barbados.

    And neither should you.

  21. Simple Simon Avatar
    Simple Simon

    @Tron October 6, 2018 7:51 PM “There should be a numerus clausus for law and possibly for other subjects as well. Barbados has already 1,100(?) lawyers, ways too much. We do not need 1,500 or 2,000…in Bim.”

    I must admit that I am ambivalent about limiting the numbers admitted to law or to any faculty.

    The simple way I look at it, if the newly minted lawyers can’t find wuk’ as lawyers, they will find other work, perhaps something more rewarding than law.

  22. Simple Simon Avatar
    Simple Simon

    @Tron October 6, 2018 7:51 PM “However, not everybody needs to enter UWI,”

    I trust that you are aware that not everybody who applies to UWI is admitted.

    Some are DENIED admission, because of poor grades.

    Some NEVER APPLY because they already know that they are inadmissible.

    Many go to UWI and work hard.

    Some go to UWI and waste their time, their parents money, and the taxpayers money.

    As a taxpayer, I DO resent those who waste MY MONEY.

    But we must be careful that we do not throw out the baby with the bathwater.

    The youngsters, their parents and their teachers and guidance counsellors need to work together to find the best route for each young person.

  23. Simple Simon Avatar
    Simple Simon

    @WARU October 6, 2018 8:30 PM “most people prefer their competition in a country much bigger then 21 miles long and 14 miles wide.”

    Some of us were born in [not on] born in this 21 x 14 miles place. Some of us LOVE this 21 x 14 miles place. Some of us our navel string bury right here. MOST of us hate bad behaviour as much as you do.

    But in any country of the world it is a lifelong task rooting out bad behaviour.

    Bajans on the whole are no better, nor no worse than other people.

  24. Simple Simon Avatar
    Simple Simon

    I beg your pardon.

    Now you can return to the NIS discussion.

  25. Simple Simon Avatar
    Simple Simon

    http://www.nationnews.com/nationnews/news/202014/rao-assisting-police
    Rao assisting police.

    Rao has not been arrested. He is in police custody. No charges have been laid.

    He is assisting police.

  26. Vincent Codrington Avatar
    Vincent Codrington

    @ Simple Simon

    Thanks for holding the fort. At least you are one more who has an abiding faith in our country’s future. Your interventions are inspiring.

  27. WARU Avatar
    WARU

    “Bajans on the whole are no better, nor no worse than other people.”

    We can even take it a step further, no reason to leave it at that…and say that Bajans CAN DO MUCH BETTER…..but it involves riding the island completely of that nasty colonisl mindset that is now STILL polluting the parliament….with the Mia government.

    The people have 2023 to finally FREE THEMSELVES….from that mental enslavement and let any new candidates to the parliament know going forward that their backward ignorance and stagnating practices to kerp the island in perpetually in 1950s mode with no progress and no forward movement WILL NO LONGER BE TOLERATED.

    Always take it to the next level…never just leave it at “but it happens everwhere.”….that will get you nowhere.

  28. WARU Avatar
    WARU

    …but it involves RIDDING the island completely of that nasty COLONIAL mindset that is now STILL polluting the parliament….with the Mia government.

    Bare in mind I am NOT sentimemtal about any government or any PM, Minister, Senator etc…not one of them will work for the people for free, without a salary or without the opportunities available to them to rip off the people.

  29. WARU Avatar
    WARU

    The people have 2023 to finally FREE THEMSELVES….from that mental enslavement and let any new candidates to the parliament know upfront and going forward that their backward ignorance and stagnating practices to KEEP the island PERPETUALLY in a 1950s mode with NO PROGRESS and NO FORWARD movement for the MAJORITY POPULATION who elected them……WILL NO LONGER BE TOLERATED.

    Well worth correcting AND repeating…

    BTW…contrary to what you believe, not every population on earth thinks being victimized and disenfranchised by two stupid, dishonest thieving governments for 52 years…is normal, because it is NOT normal.

  30. WARU Avatar
    WARU

    A real, real reason NOT to invest ya money in government scams..am not a fan of Wall Street, but if I had to choose between investing in anything government in Barbados and investing in stable stocks on Wall Street even if they pay 1.5%…Wall Street just won hands down.

    .unless this 82 year old man manages to live until 2033, his chances of living to see ALL his money his paid out to him have been significantly reduced, hopefully he has beneficiaries that the government in 2033 would not also try to hoodwink and rob.

    A 6 month investment should never morph into a 15 year scam because the previous government were ALL thieves who Mia apparently is hesitant to pursue to return ALL the people’s stolen money.

    http://www.nationnews.com/nationnews/news/202176/pensioner-plight

    “Pensioner Llewellyn Johnson is frustrated and uneasy. That’s because on Wednesday, the 82-year-old will not be cashing in on his life savings of $147 420, which he invested in a short-term Treasury Bill with an interest rate of 3.5 per cent on April 13 this year.
    …
    In late September, he received a letter from the Ministry of Finance stating that agreement had changed.

    In an effort to reprofile its debt, Government sent Offer to Exchange letters to Johnson and other holders of existing instruments – Treasury Bills and Notes and Debentures – outstanding as of September 30, 2018, informing them they would be exchanged for new ones with reduced interest rates and a longer maturity period.

    The father of two will receive interest payments of $347.65 on December 31 and on the following three quarters (March 31, June 30 and September 30) a similar amount. With Government’s new instruments, his remaining monies will be disbursed over 15 years until the last payment of $293 is made on September 30, 2033.”

  31. Hal Austin Avatar
    Hal Austin

    @Vincent Codrington,

    Hope you are well. I am still waiting to hear about the period when quantitative easing was official policy in Barbados since the end of the second world wear?

  32. Vincent Codrington Avatar
    Vincent Codrington

    @ WARU at 8 :45 AM

    It is more rational to state that a wrong policy decision was made to deal with the debt overhang. A decision that is making pensioners the sacrificial lambs of ineffective and erroneous GoB fiscal and monetary policies.

  33. Hal Austin Avatar
    Hal Austin

    Here is the topic for today’s group essay: if the state is the lender of last resort in liberal democracies, what happens to ordinary retail investors when it is the state that defaults on its contractual obligations?
    Barbados is a failed state.

  34. WARU Avatar
    WARU

    Vincent…it is more rational to state that you had a government DLP…with no vision, no intelligence and had no clue what they were doing despite having hands on training in government for 10 long miserable years that they visited on the people…the 10 long years they were getting FREE advice from IMF, Standard and Poors whom they cussed and Moodys whom they also cussed for their troubles, even Bloomberg was giving them FREE advice.

    ……PLUS…they were THIEVES, bribe takers and all-round corrupt scumbags….for government ministers and lawyers..

    No matter how hard we try, we cannot get around any of that.

  35. WARU Avatar
    WARU

    So if that was your political party…welcome to reality my friend.

  36. Hal Austin Avatar
    Hal Austin

    @Vincent Codrington,

    Hope you are well. Have you noticed that US unemployment is at its lowest since 1969? Have you noticed the Greenback is steadily appreciating almost every day (and in the process making Bajan dollar-denominated debt more expensive)? Have you noticed that some experts are predicting that within five years 70 per cent of global growth will come from emerging markets? Have you noticed that domestic bond markets now supply 90 per cent of finance to emerging markets?
    Now plse remind me when it was that government in Barbados had a policy of quantitative easing as policy? Plse tell me where all this reality fits in in the BERT master plan?

  37. Tron Avatar
    Tron

    @ WARU October 7, 2018 8:45 AM

    The pensioner bought the T-bills when the rating was B triple-minus. He gambled and lost. Like every gambler he must bear his losses.

    Barbadians must learn their lesson: Hands off from every investment in a country with B and C grades.

  38. WARU Avatar
    WARU

    Tron…ya gotta remember that the government back then would have put out the rumour that the investment would also help the economy with the whole long line of patriotic bullshit attached…these people tend to listen to and trust the scum in parliament and in the Bar Association…

    EXAMPLE: Mia as PM just jumped out using the wave she was just elected on to wrap the whole population into the Bitt Inc…complete with Rawdone… mMoney scam.

    Some people know about subliminal messaging…many don’t, can you see those who swallow the patriotism scam thinking they are helping the country with mMoney because Rawdone a senator and Mia the PM…endorsed and advertised it…well that is how the population lose their money in these government created scams..

    Even Enuff 68 has clearly drank so much of the Koolaid, it has poisoned him..

  39. Tron Avatar
    Tron

    WARU,

    around 2010, I had a chat abroad with a Barbadian senior bankster working for a well-known global financial powerhouse.

    I told him I “believe” that the Greek crisis was soon over. He told me: Greece delivered wrong numbers, the ratings are down. How can we trust these people? Then he looked into my eyes and said: Your judgement is based on feelings, banks need empirical data and hard numbers in order to confirm economic recovery.

    Since then I do not believe in anything anymore.

  40. Guest Avatar
    Guest

    There is a difference between a default because one cannot pay and a default because one chooses not to pay.

    When one cannot pay, one cannot:
    …1 have an excessive cabinet
    …2 employ retired aunties
    …3 you know the list by now

    When one chooses not to pay, one is simply making a grab for your money because one has the power to do so and may use your money to:
    …1 have an excessive cabinet
    …2 employ retired aunties
    …3 you know the list by now

    Do you think the debt holders can tell commercial banks that they can only buy food, water and electricity after the debt restructuring and will therefore pay 0.02% on any outstanding loans.

  41. Guest Avatar
    Guest

  42. WARU Avatar
    WARU

    “Since then I do not believe in anything anymore.”

    That will save your life.

  43. millertheanunnaki Avatar
    millertheanunnaki

    @Vincent Codrington October 7, 2018 11:33 AM
    “It is more rational to state that a wrong policy decision was made to deal with the debt overhang. A decision that is making pensioners the sacrificial lambs of ineffective and erroneous GoB fiscal and monetary policies.”
    ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

    So who else should be made the “sacrificial lambs” for this long-expected day of financial pain and political lamentation?

    So what are the alternative policy instruments to the pending haircut?

    If not the proposed haircut, are those ‘well-off’ pensioners prepared for the dreaded “D” option which would effectively leave them with an ‘all-off’ (clean-cut) as far as the ‘real’ value of their investments goes and- if radical fiscal surgery is not performed immediately-would soon worth not even the pretty printed paper they are ‘denominated’ on?

    These investors have to take what is on offer (Hobson’s choice) or else run the greater risks of losing all; just like the holders of the CLICO EFPA worthless instruments.

    Since 2013 these investors have been duly warned (downgrade after downgrade, fiscal deficit after fiscal deficit) about the fast travelling junk bond asteroid approaching the faster contracting Bajan economy.

    Why are they now acting so ‘surprised’ about the pending fallout?

    Don’t blame MAM and her administration for this one! She is only negotiating with the IMF guv for a stay of execution for you lot.

    Hard ears they did not listen; bye and bye they will feel.

  44. NorthernObserver Avatar
    NorthernObserver

    With all the lawyers around, one might think one or two maybe smelling a few dollars in a class action suit.
    There would appear to be some grounds for certification. At least nuff free promotion a la come sing a song.
    The treatment of the short term instrument holders seems “excessive” to me, especially if the very possible result at the NIS is a reduction in benefits.
    The OPTICS as @Guest keeps highlighting are AWFUL. Bad awful.

  45. TheOGazerts Avatar
    TheOGazerts

    @Miller
    “So what are the alternative policy instruments to the pending haircut?”

    If not the proposed haircut, are those ‘well-off’ pensioners prepared for the dreaded “D” option which would effectively leave them with an ‘all-off’ (clean-cut) as far as the ‘real’ value of their investments goes and- if radical fiscal surgery is not performed immediately-would soon worth not even the pretty printed paper they are ‘denominated’ on?”

    Is it an either/or? In treating breast cancer some physicians would perform surgery and the follow this with radiation therapy…
    The choices may have been devaluation OR a trim followed by devaluation. The latter choice (trim followed by devaluation) is being implemented.

  46. TheOGazerts Avatar
    TheOGazerts

    “With all the lawyers around, one might think one or two maybe smelling a few dollars in a class action suit”
    1. U.S. 1 lawyer for every 300 people
    2. Brazil: 1 lawyer for every 326 people
    3. New Zealand: 1 lawyer for every 391 people
    4. Spain: 1 lawyer for every 395 people
    5. UK: 1 lawyer for every 401 people
    6. Italy: 1 lawyer for every 488 people
    7. Germany: 1 lawyer for every 593 people
    8. France: 1 lawyer for every 1,403 people

    In Barbados, there is one lawyer for every 250 (275,000/1100) persons.

  47. WARU Avatar
    WARU

    A real feeding frenzy for small island sharks…there are too many lawyers in Barbados.

  48. NorthernObserver Avatar
    NorthernObserver

    And I “believe” we have more places of worship per sq.mi than almost anywhere.

  49. NorthernObserver Avatar
    NorthernObserver

    @TG
    it certainly throws the correlation between supply/demand and price out of the window?

  50. David Avatar
    David

    Do not forget rum shops.

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