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Establishing a National Bank, Pie in the Sky or …

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Mia needs to keep airy-fairy long term ideas like inter-island ferries and a new national bank in her head and the discussion rooms until they are fleshed out and sources of financing are identified. What she needs to do is call in ministers Prescod and Duguid and find out what short and medium term plans they have for garbage collection and transportation respectively – Bajan in NY

At 3 hrs:11 minutes of the video – Town Hall Meeting with Barbadians living in Brooklyn, New York #WeGatherin – Prime Minister Mia Mottley floated the feel good idea of reestablishing a national bank.

The BU family has discussed this matter extensively, credit unions have been trying for years to establish a credit union bank that of late has morphed to an alliance with Capita, a 100% owned company of the Barbados Public Workers credit union.

The blogmaster has a couple questions.

Section 21. of the Barbados Institutions Amended Act, 2018-51states:

Restrictions on business activities

41F.(1) Subject to this section, a license

(a) on a solo basis shall not incur exposures

(ii) incur an exposure to a person or group in an amount that exceeds 25 per cent of the capital base; or

There are other restrictions that should be of interest for inquiring minds.

How would the government of Barbados capitalize a national bank given its perilous financial state?

Successive Auditor General reports paint a picture of a poor financial governance culture. How would this prevailing culture influence the management of a national bank?

 

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237 responses to “Establishing a National Bank, Pie in the Sky or …”

  1. WURA-War-on-U Avatar
    WURA-War-on-U

    If Bajans in the Diaspora want to be suckers to get robbed by lying, deceitful governments, despite all the CLEAR warnings on social media, that is their problem, but we done know that government will be fronting for thieves as usual, using taxpayers and pensioners money as usual, so the people on the island who have been victimized by both governments for decades know better than to put their money in some crooked bank where the owners are protected from criminality against the people…by their own government .

  2. Baje Avatar
    Baje

    #BTEditorial – What has become of Stephen Archer’s money?

    The name Stephen Archer might mean very little to those outside the circle of any close friends and family members he might have had. But his is a case that cries out for justice. This is yet another situation of an average Barbadian citizen being adversely affected by the type of dubious conduct that can accompany the vulnerable even to the grave.

    Tomorrow morning Archer will be laid to rest in the churchyard of St Stephen’s Anglican Church just five months after publicly highlighting the tragic circumstances that befell him. He also drew attention to the representation – or lack thereof – of a well-known Barbadian attorney-at-law. Fifteen days after Archer celebrated his 30th birthday in 1997, a telephone pole fell on him occasioning him significant bodily injury.

    Archer was taken to the United States to undergo treatment and physical therapy. While living in Miami, Florida, and now a paraplegic, he became homeless. His leg became infected as a result of his living circumstances and it was later amputated. He subsequently returned to Barbados and an initial hospital visit eventually turned into a four and a half-year residency at the Queen Elizabeth Hospital. After leaving the hospital the bed-ridden Archer became a resident at Cyralene Senior Citizens Nursing Home at Accommodation Road, Spooners Hill, St Michael.

    The utility company fulfilled its legal obligations to Archer and according to him paid a seven-figure compensation settlement to his attorney-at-law on his behalf. However, Archer revealed to Barbados TODAY in April that he was never given a cheque with his money nor was it ever deposited on his personal account. Despite the small fortune that his unfortunate accident had brought to him, Archer explained then that he still owed the nursing home $20 000 for eight months stay at the facility. He said the lawyer was handling his finances but had not paid any money to the home. “When I came here (nursing home), the idea was to save money to help my sister and fix the house in Cave Hill, but it backfired when the lawyer reduced how much I am getting so I ended up staying here a lot longer than I expected,” Archer revealed then.

    Archer’s unfortunate situation was exacerbated as a result of his sister – who had been his main helper – dying in February from cancer. His mother who had initially been his principal caregiver had died from a stroke in 2009 while they were still in the United States. His was a life with little family support. He explained the mental and physical difficulty of being reduced from an independent, active, outgoing individual to one living in solitude and confinement in a bed with the occasional allowance out of his money coming from the lawyer.

    With hundreds of thousands of his dollars sitting in the bank account of his lawyer, Archer was later reduced to starting a Help Stephen Archer Facebook page and the launch of a “gofundme” account. During his stay in the nursing home his three-bedroom, one bathroom family house at Well Gap, Cave Hill, St Michael was rendered an empty shell by burglars. Despite facing such immense personal hardship, a still optimistic Archer stated in April: “I am not worried, this is Barbados. In the States, I was homeless, in a wheelchair with maggots on me, but here in Barbados a lot of people know me so hopefully, it is not going to come to that. I have nothing to lose. When you are down the only direction to go is up. So I am waiting.”

    Archer’s wait is now over. His direction did not take the upward curve he desired. But there are many questions left unanswered. And who will seek to have them answered? Archer had no children. Chief among those questions: Where is his money? Does his attorney-at-law still have the substantial amount on his own personal bank account? If he does, will he make any attempt to pass it on to existing family members, irrespective of how close or far removed they might be? Why did he not hand over all of Archer’s money when he received it or have it placed on his client’s personal account? Why were payments not made to Cyralene’s Senior Citizens Nursing Home in a proper manner? Does the Barbados Bar Association have any authority – or inclination – to launch an investigation into this matter? Is there any other agency willing to pursue this case? Will this be simply another case of a Barbadian lawyer benefiting from the funds of a client?

    Perhaps it is time that in matters such as these, plaintiffs have greater oversight on the actual transaction between the defendant and legal counsel where compensation is due to be paid. Why are cheques written in the name of lawyers and not the clients they represent? Developments in Barbados’ courts over the years would suggest that not writing the plaintiffs’ cheques in the names of their lawyers might be protecting many from themselves.

    Of course, none of this is going to help Stephen Archer now. But perhaps some of the mourners who pay their last respects to him tomorrow will ensure they are guarded against such anguish if similar tragedy should ever befall them.

    https://barbadostoday.bb/2019/09/26/bteditorial-what-has-become-of-stephen-archers-money/

  3. WURA-War-on-U Avatar
    WURA-War-on-U

    The lawyer was patiently waiting for him to die, protected by the CRIMINAL bar association. This case is still being talked about, many thieving lawyers are still robbing or attempting to rob injured clients of their compensation, as long as they are protected by fellow thieves, QCs etc, they will never stop…..Let-s hope he follows his VICTIM soon.

    Most of the lawyers in Barbados should be disbarred, they are thieves.

  4. Mariposa Avatar
    Mariposa

    This is another one of her flimsy whimsical comedic ideas
    In one year Mia has promised the sun the moon and the stars
    Not forgetting the many promises made in the past ten years and have not delivered on one of them
    Mia needs to stay off social media where feel good ideas abound
    Obviously her only goal in mind is to be re-elected hence her utterances are representative of a person with a trial ballon mentality
    So far these are some of her utterances
    Hotel corridors
    Bridges
    Post office bank
    One can only sit in wonderment and ask of self hiw woukd all these projects be put into action if as Mia once said the country is broke

  5. Ping Pong Avatar
    Ping Pong

    Who was Stephen Archer’s attorney-at-law?

    http://edition.pagesuite-professional.co.uk/html5/reader/production/default.aspx?pubname=&pubid=87ad6005-1972-4d63-92b0-8927eda53c7a

    I want to avoid this person.

  6. WURA-War-on-U Avatar
    WURA-War-on-U

    The criminals keep protecting that thief, people have been asking for that name for years, your best bet is to treat all lawyers in Barbados like they are Stephen Farmer’s lawyer, since they are all protecting this evil thief.

    Take note that many of these crooked lawyers are employed by banks.

  7. WURA-War-on-U Avatar
    WURA-War-on-U

    Oops..Archer.

  8. Piece the Legend Avatar
    Piece the Legend

    Three things

    Somehoe one gets the idea that bloggers are simpletons.

    Articles like Stephen Archer’s SHOULD NOT BE POPPED INTO other articles because, AS IMPORTANT AS THEY ARE they get swallowed up.

    Or they FVUCK up the central article and neither gets it due desserts.

    Who is the lawyer? One notes that even WARU is afraid to mention their name

    Mugabe going always have these jackass ideas because she is a …

    So Owen Seethru sell the national bank and Mugabe the despot (Owen’s words not mine) looking to mek a new one?

    That sounds like that calypso about a man fooling a pok*y and the woman telling he “mash it up, I can buy back a new one…”

  9. WURA-War-on-U Avatar
    WURA-War-on-U

    Is this the same tiefing attorney bought himself a plantation, trying to pretend he is a massa.

    NI**ER ERNEST JACKMAN, crooked Barbadian attorney. So, it is Ernest Jackman, an attorney who has already been arrested for stealing client funds, who is involved in the Stephen Archer matter I posted on earlier today.

    He is a close buddy of ex-prime minister Owen Arthur. Jackman should not be a member of the Barbados Bar Association.

    Google his name. Ni**er Jackman is involved in a lot of dishonest schemes, but, it is Barbados so he has nothing to worry about. Naked!!
    https://images.app.goo.gl/QBPgfweDvWxTrsjF9

  10. WURA-War-on-U Avatar
    WURA-War-on-U

    As i said, a lot of these thieving lawyers work for BANKS and insurance companies. That is why they get jobs. The only reason.

  11. WURA-War-on-U Avatar
    WURA-War-on-U

    You cannot trust any bank opened by this government…all their tiefing fellow lawyers will be on board, it will be a wholesale financial slaughter of the citizens and anyone crazy enuff to trust any of them with their money.. you will lose your money…people are outraged at the level of human rights abuses on the island CONDONED and ENCOURAGED by both evil governments, the judiciary and the bar association.

    https://www.facebook.com/647299084/posts/10157568868099085/

  12. SirFuzzy (Former Sheep) Avatar
    SirFuzzy (Former Sheep)

    “inter-island ferries” mat=y become a choice of travel if LIAT cannot be kept in the sky.

    The world has a way of making old things appear new and new things appear old and outdated.

    Just saying

  13. David Avatar
    David

    Halley Haynes quoted on the news this morning that a credit union bank will be possibly rolled out in June next year. He was quick to say that correspondent banking services is a potential blocker. Barbadians are very tired of the pie in the sky promises.

  14. Vincent Codrington Avatar
    Vincent Codrington

    @ David BU at 7 :41 AM

    The Credit Union movement had a wonderful opportunity to purchase BNB when those shares were floated on the market and never seized it. ”Pie in the sky” is an apt description. Too many of us talk because we have a mouth. The” blockers” were not then in place.

  15. William Skinner Avatar
    William Skinner

    There seems to be a belief amongst some of us here on BU that all we need to have a national bank are bricks and mortar.
    I would suggest that they spend sometime reading articles by Harry Russell, “ Wild Coot” Nation columnist, who has written quite a few articles on the issue. He was the first citizen, to publicly state that selling the National Bank was a colossal mistake.
    Apparently those who praised Arthur’s economic management did not see anything wrong with the decision at the time.
    This is how the Duopoly operates and as I have stated , it usually eats its own , when expedient.

    The Duopoly Rules

  16. Miller Avatar
    Miller

    @ David (BU):
    “How would the government of Barbados capitalize a national bank given its perilous financial state?”
    ++++++++++++++++++++++++++++++++++++++++++++

    Probably from the same source Maloney would be looking to finance his Hyatt erection of a pipedream.

    What about the NIS money?

    Maybe MAM is simply flying the national flag of jingoism among the Bajan Diaspora to support the policy of having to find a replacement for the possible pending departure of the BNS and even a very likely slimmed down version of FCIB-CIBC.

    Would a reincarnated version of the early BNB be the vehicle through which this policy be executed?

    Would you see a re-migration of the portfolio of commercial accounts in the name of SOE’s and agencies from Republic bank back to a phoenix called MAM’s baby bump for a bank?

  17. Miller Avatar
    Miller

    @ WURA-War-on-U September 26, 2019 6:59 AM

    Stephen has gotten his long sought wish. He has been at last released from his bondage of pain and suffering not of his own making.

    But Karma is on the march to bring justice to those who conspired to rob him of his compensation he was duly entitled to.

    Hope your final journey in crossing the River Acheron to the banks of Paradise was quick and easy.

    RIP Stephen!

  18. Greene Avatar
    Greene

    was Mia part of Owen’s cabinet when the decision was taken to sell the BNB

  19. WURA-WAR-on-U Avatar
    WURA-WAR-on-U

    “But Karma is on the march to bring justice to those who conspired to rob him of his compensation he was duly entitled to.”

  20. Gabriel Avatar
    Gabriel

    There is a heated debate going on in Antigua about Bank of Nova Scotia pulling out as well as Royal Bank of Canada.Barclays pulled out stealthily about 20 years ago after its senior management joined with staff to unionize the bank and give the unions all the details of peoples’ and companies’ financial affairs.

  21. Miller Avatar
    Miller

    @ Greene September 26, 2019 8:24 AM

    What sort of self-serving question with a pure partisan agenda is that?

    Wasn’t she also part of the same “Owen’s cabinet ” when the decision was made to reduce her father’s tax liabilities due to theTreasury?

  22. Sargeant Avatar
    Sargeant

    I wrote about Mia’s kite flying about a possible national bank a few days ago, glad to see the discussion has picked up some momentum.

    NB to “David” the Stephen Archer story deserves a separate blog

  23. Piece the Legend Avatar
    Piece the Legend

    De ole man is lost!

    What would be the purpose of the Government of Barbados trying to float another National Bank OTHER THAN TO CREATE A COVER FOR THE MYMONEY SCAM under their money laundering scheme reincarnated?

    Look let us look at the local landscape dispassionately

    De cuntry has Banks already!

    De cuntry has credit unions that can be legally upgraded to banks!

    The cuntry has Microenterprise institutions that are supposed to assist SM&Es where the banks fall short.

    The cuntry has Central Bank Guarantee schemes to assist qualified SMES to progress their businesses

    The cuntry has a dictator Mugabe who changed the constitution to bring back two uh she Canadian friends and mek dem Senators and who also mek she fadder a knight overnight SO SHE CAN MANDATE THAT THE COMMERCIAL BANKS MUST USE THE CENTRAL BANK GUARANTEES OR FORFEIT ITS LICENCE!

    So wunna comprehend de ole man confusion?

    Unless AS DE OLE MAN REVEALED AT COMMENCEMENT, Mugabe just setting up a bank TO LAUNDER DRUG MONEY!!!

  24. Hants Avatar
    Hants

    GEORGE­TOWN, Guyana, CMC – The Cen­tral Bank of Guyana (CBG) says it will not sanc­tion the sale of the op­er­a­tions of Sco­tia­bank here to the Trinidad-based Re­pub­lic Fi­nan­cial Hold­ing Lim­it­ed (RFHL).

  25. WURA-WAR-on-U Avatar
    WURA-WAR-on-U

    “Unless AS DE OLE MAN REVEALED AT COMMENCEMENT, Mugabe just setting up a bank TO LAUNDER DRUG MONEY!!!”

    That too…..

  26. David Avatar
    David

    Some of you continue with your nuisance comments.

    @Hants

    According to the report out of Guyana the regulator declined because of the the size of the marketshare i.e. greater than 50%.

  27. Greene Avatar
    Greene

    Miller
    [quote] Wasn’t she also part of the same “Owen’s cabinet ” when the decision was made to reduce her father’s tax liabilities due to theTreasury?[quote]

    good question

  28. David Avatar
    David

    @Gabriel

    What is the Antigua backstory?

  29. NorthernObserver Avatar
    NorthernObserver

    Nov 27, 2018
    The Bank of Nova Scotia plans to sell its banking operations in nine Caribbean countries and its insurance operations in two other regional markets — and its chief executive expects more international divestments in the pipeline.

    Scotiabank said Tuesday it has signed an agreement to sell its banking operations in nine “non-core” markets — including Grenada, St. Maarten and St. Lucia — to Republic Financial Holdings Ltd. for an undisclosed amount.

    The bank also said its subsidiaries in Jamaica and Trinidad and Tobago will sell their insurance operations to and partner with Sagicor Financial Corp. Ltd. to provide products and services in the two countries, for an undisclosed amount.

    April 9 2019
    In early December, the competition commission of the Caribbean Community (or CARICOM) said it had “taken note” of Scotiabank’s announcement and “further noted the concerns of bank customers and governments across the region regarding the proposed acquisition of Scotiabank by Republic Financial.”

    More recently, the Suriname-based commission said in an update that it had completed a preliminary review.

    “Such assessment indicates that the proposed transaction or parts thereof could possibly have anticompetitive effects in at least three (3) Member States in the Community,” a statement dated March 27 said. It did not say which of the 15 full members of the CARICOM bloc could be affected, or give further details about any alleged “effects.”

    However, the CARICOM Competition Commission also said it would reach out to national and sector regulators in the affected areas, “for the conduct of preliminary examinations of proposed transaction” between the businesses.

    “In furtherance of its commitment to fair and transparent processes for both the business community and consumers, the Commission will continue to monitor this activity in the Community and will inform as appropriate on further progress of this matter in affected Member States,” the statement added.

    Scotiabank’s Caribbean banking asset sale — involving Anguilla, Antigua, Dominica, Grenada, Guyana, St. Kitts & Nevis, St. Lucia, St. Maarten, St. Vincent and the Grenadines — forms part of a broader campaign by the bank to focus its energies on its core markets.

    In February, for instance, the lender announced it would sell banking and insurance businesses in El Salvador, a move it said was “driven by the bank’s strategy to focus on key markets which can generate greater scale for Scotiabank.”

    The bank’s plans have been widely reported on in the Caribbean.

    CARICOM’s competition commission, which was created by treaty to encourage economic development among participating nations, says on its website that it has certain powers, including the ability to impose fines and to “direct the enterprise to cease and desist from anti-competitive business conduct.”

    In response to questions from the Financial Post, Scotiabank said it “acknowledges the CARICOM Competition Commission’s contribution to the regulatory approval process, and continues working closely with Republic and all applicable regulatory authorities to provide all needed information related to this transaction.”

    The bank said previously that the transactions announced in November would not be “financially material,” but that they would increase a measure of capital strength by around 10 basis points upon closing.

    Republic Financial previously said in a release that the purchase price on the Caribbean bank assets was approximately US$123 million.

    The purchase price on Scotiabank’s insurance operations in Jamaica and Trinidad is around US$240 million, according to a November investor presentation. It was also subject to the closing of an acquisition of Sagicor by Toronto-based special purpose acquisition company Alignvest Acquisition II Corp.

    “Until such approvals are obtained and conditions are met, and the transactions close, all Scotiabank operations in these countries will continue as usual,” the bank said in November.

    Alignvest announced on March 1 (before the Caribbean competition commission weighed in) that it and Sagicor were postponing shareholder meetings to allow both companies more time to market the deal, as well as to “afford time for investors and shareholders to understand the publicly available information.”

  30. Enuff Avatar
    Enuff

    For clarity, isn’t Mottley referring to the decision by David Thompson to sell the government’s then remaining shares in BNB post the global banking crisis? In terms of a local bank, a technologically-savvy digital bank working in collaboration with post offices and other payment points could work.

  31. Sargeant Avatar
    Sargeant

    @David

    From reading between the lines it appears that Republic agreed to buy the assets of Scotiabank in several territories including Antigua, however Brown is objecting to the sale ostensibly because he is trying to protect the rights and benefits that the Antiguan staff have acquired over the years which may not have been honoured by Republic and also he may be trying to force Scotiabank to negate the Antiguan portion of the sale and sell its Antiguan assets to a local indigenous bank. Scotiabank may be balking perhaps because a condition of the sale is that Republic acquire the assets of the Bank in all the islands and departure from that may significantly reduce he price or cancel the sale in its entirety.

    BTW how come these Caricom members are objecting to the sale of a bank to an entity located in another Caricom country?

  32. NorthernObserver Avatar
    NorthernObserver

    In addition to @Sarge above
    there was talk about Republic selling 40% of ScotiaA&B to the GoA&B. The Government claimed Republic were paying Scotia +/-$26M for the business, but wanted a significant premium for the 40%, as in 10 times what Republic paid for Scotia A&B

  33. Greene Avatar
    Greene

    Enuff

    [quote] For clarity, isn’t Mottley referring to the decision by David Thompson to sell the government’s then remaining shares in BNB post the global banking crisis? [quote]

    that would make a lot of sense as the majority sale of the shares wont bother her like the minority share sale would.

  34. Sargeant Avatar
    Sargeant

    @Enuff
    Stop trying to muddy the waters, when is abandoning a minority position worse than scuttling a majority stake?

    The die was cast from the time OSA embarked on the sale of BNB, all the plaster in the world (Mia talking about Thompson) aint going to cover up that sore.

  35. NorthernObserver Avatar
    NorthernObserver

    @Sarge
    Good question. in “some”, not all, where Republic already has a presence, the addition of the BNS business could expand the Republic footprint into a majority market position. Since they are rumours RBC has also been seeking buyers, and CIBC tried to spin off their Caribbean division unsuccessfully, authorities are seeking to limit ownership by one entity. Needless to say this depresses future price/value. One wonders if Republic isn’t playing both sides of the coin.

  36. NorthernObserver Avatar
    NorthernObserver

    “a technologically-savvy digital bank”
    Before embarking on grand technology, why don’t you get the SOE’s to produce the financial reports required (low and existing technology). And among the many sales globally each day, find a few second hand garbage trucks which are affordable, along with a few buses.
    Obfuscation of current issues, by turning on the dream cycle, doesn’t solve them.

  37. Miller Avatar
    Miller

    @ Sargeant September 26, 2019 10:27 AM
    “BTW how come these Caricom members are objecting to the sale of a bank to an entity located in another Caricom country?”
    +++++++++++++++++++++++++++++++++++++++++++++++++++++++

    Only underscores the hypocrisy and duplicitous nature of the two-bit tin-pot despots called Caribbean small-Island-minded politicians.

    Which government in the one-leg economy Caribbean should be thinking about buying old bricks and mortar from an international bank about to go more high-tech and operate primarily in cyberspace of the banking world?

    Shouldn’t they be trying to sort out the LIAT situation before it does what has happened to Thomas Cook; just fall from the financial skies?

  38. Hants Avatar
    Hants

    It is possible that Canadian banks no longer make enough profits to justify keeping a ” block and mortar ” presence in the

    Caribbean.

  39. Pachamama Avatar
    Pachamama

    Everybody here still seeing these issues through an aged prism, possibly Northern as the exception.

    All kinds of organizations are now some sort of financialized institution or conducting banking-like business.

  40. Vincent Codrington Avatar
    Vincent Codrington

    With all of this information ,where is the logic for a GoB owned bank? What unfulfilled niche will it serve? Just asking to complete my understanding.

  41. Miller Avatar
    Miller

    @ Greene September 26, 2019 9:56 AM

    That question asked was the futile answer to your rhetorical question.

    Of course you haven’t fully digested the poisoned fruit of sarcasm dropped from the rotting apple tree which is drooping in the DLP backyard on George Street.

    Why didn’t your people use that line of reasoning (Cabinet decision-making) instead of the implied under-handed dealings of one woman’s decision to write off any tax revenues due to the Treasury based on solely incestuous vested interests?

    And you of all legally-minded people should know such a line of attack could only open the window of defamation to let the wild boys fly in still shooting from their unintelligent mouths on their nightly soapboxes while preaching to their dumb yard-fowls.

  42. Greene Avatar
    Greene

    Miller

    really? is that where you want to go with this?

  43. WURA-WAR-on-U Avatar
    WURA-WAR-on-U

    Look…Mia is a copier, Americans descended from enslaved Africans have/are establishing a bank to connect them to Africa for their return to the continent…flying Mia is running around tiefing people’s ideas…halfbaking them into her delusions and trying to fill people’s heads with shit..

    ..only dumb Enuff yardfowls would buy into any of it…and they should all get ROBBED…..if they are dumb Enuff to.

  44. WURA-War-on-U Avatar
    WURA-War-on-U

    Doubt me…i shit you not..she did not even want to acknowledge realier this year that Africa is calling her children home, she tried to upstage the African Ambassador, she wilfully kept that hidden from the people like she did Caricom decriminalizing marijuana since last year…now she is hot and sweaty to secretly do stupid things.

    …i can’t even articulate this utter shite…stuepps..

    https://www.facebook.com/groups/sohee/permalink/2442979925794566/

  45. WURA-WAR-on-U Avatar
    WURA-WAR-on-U

    BTW…did she happen to mention all of that to the over 260 thousand black bajans on the island…that she taking yall back to Africa, metaphorically or otherwise…steupppss…..ah know she gushed a ton of shit to Bajans in the diaspora…and not a word to those living in Barbados.

  46. Miller Avatar
    Miller

    @ Greene September 26, 2019 11:47 AM

    We will not be going with you into some endless rabbit hole of futile debate.

    The mere fact that you tried to delink the illegal business of money laundering from criminal trading activity only tells us you are one of a kind type of law–exposed ex-police officer who is still believing in himself to be a sleuth of incomparable intellect and supreme competence.

    Why should anyone law-abiding person want to launder money unless it is dirty from lying too long in the mud made up of the dirt of white collar crime or the sludge from the sewer of underground activities like prostitution illegal gun-dealing and the rather profitable trade of illicit drug peddling.

    Let us focus on the matter in hand.

    How about backing Hal Austin’s long-touted proposal of establishing a Post Office bank now that such an opportunity is gaining currency in a financial environment of digital dollars and ‘sense’?

  47. Baje Avatar
    Baje

    @ Piece

    Mia and other members of her Dishonorable Cabinet promised in their 2018 MANIFESTO Bible that upon getting elected within 6 months as a main priority was to raise minimum wage for the masses.

    Also Integrity and Transparency Legislation was to pass as a matter of priority once elected.

    None of the above has happened so what is the difference about the waffle about setting up a National Bank.

    The man was robbed of over a $10 million which is 7 figures by a lawyer which the majority in Parliament happened to be practising.

    A PROMISE IS A COMFORT TO A FOOL.

  48. Baje Avatar
    Baje

    Correction robbed of over $1 million settlement which is 7 figures by a local lawyer

  49. David Avatar
    David

    @Sargeant

    Yo are savvy to know Canadian banks have been pushing customers to do business electronically to enuffs point. Why Canadian banks maybe looking to get out is because the risk related issues that potentially offend regulators does not make doing business in this neck of the woods appetizing at this time. As Pacha alluded many comments posted so far are simplistic. The blogmaster suspects many posting on BU pages will never see a national bank take wings. Who remembers David Thompson’s promise to sto the BS&T sale or buyback shares from Republic bank?

    The integrity of the political class has reached rock bottom.

  50. WURA-WAR-on-U Avatar
    WURA-WAR-on-U

    The problem with dangerous black governments is..they think black populations are their human property and they can do as they like, that myth has to be BRUTALLY DISPELLED…from the minds of corrupt governments…and this is the perfect time to rid them of this delusion..

    they have done more than enuff damage to the psyches of their own people with their evil criminal ways, lies, deceit and major thefts…….decades worth of damage to their own people….it ENDS NOW.

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