Posted By: Boo Ya On: 3/1/2010

Title: one small idea in the right direction

as I've mentioned before; the U.S. and other super powers spend huge money to incarcerate their prisoners. Perfect irony would be for the big countries to pay us to build prisons and watch over their bad guys. I believe they'd pay, with the proper negotiating, for us to build a prison and then house the world's terrorsists. Do it in the middle of Andros. There's already a U.S. Military presence there and none of us want to go live in the buggy swamps. Huge potential for a prisoner warehousing industry. Probably employ hundreds to build and staff, not to mention develop Andros! We could move Fox Hill Prison there as well and have the U.S. pay for it!!!!

Posted By: Dr. Dexter Reno JOhnson On: 2/27/2010

Title: End of living off pure service industries

The differential tax advantage that the Bahamas enjoyed is at an end due to the actions of the G2o countries led by President Obama and Prime Minister Gordon Brown. The writing is on the wall...countries like the Bahamas will loose 15% of GDP formerly obtained as the direct or indirect result of their differential tax status and their bank secrecy laws.
Unless we are sensible and diversify our economy into agro/fisheries we will fail to replace this shortfall in our national earnings, and suffer a fall in our life style.
Tourism has been in decline since 2005, so welcome to the Post-Tourism era...the period when earnings from tourism will not be able to sustain the current Bahamian lifestyle for so many persons. The divide into a small ruling class living off the biggest slice of tourism revenue, and a much larger lower class of persons condemned to living off the crumbs from the tourism table has begun. We should have diversified our economy since 1973, and it is proof of consistently poor leadership at the highest level that we find ourselves in this dire predicament...You cannot rely on leaders committed to a purely service industry economy to provide for our long term survival and sustainability.

Posted By: Soverienty On: 2/15/2010

Title: BNP leaves Bah

To Andron,
"Tax havens are wrong in every sense"...This is what we let them label us, but it is far from the truth! Any citizen who pay their taxes annually, and its verifiable, has the right to place whats left for them, whereever they please. Why dont you talk about the greed of the Government IRS, for example and all the tax greedy collectors, who go after every single dollar a person works so hard for. Its call nest egg, putting aside something for hard times. Capital gains tax, what about that, why does the government just take and take, that is why the average person will never be able to have a roof over their heads! Everything is out of reach, because folks salaries never go up, or keep in line with inflation..where is the fairness. What Americans and all the tax jurisdictions need to do is put pressure on its governments to stop raping them of their had earned dollars. Stop labelling places like Bahamas as Tax havens.....After I pay my taxes, its my business what I do with the rest of my money...the people that have the power in their hands, have allowed the governments to dictate, is that democracy at work, NO IT IS NOT. CUBA treats its people better! There is no democracy in the USA, its dictatorship! The Bahamas and Switzerland, and all other tax free jurisdictions needs to protect themselves, and stand up against this g7, oecd nonsense!

Posted By: Valentine On: 1/30/2010

Title: BNP Paribas Departure

Perhaps, we may consider the conceived officious dispaly of money when we attend Governmental, International conferences, i.e. 'aides', TV crew, driver, Butler, Confidante, et al. Question arises (from one of my Banking associates) regarding the affordability of the display by the Bahamas contingent vs the other attendees i.e. G7 or G20 countries. These countries also are aware of the business generated by Banks such as BNP Paribas and their locations. Where does the business come from, i.e. the Bahamas economy?

Posted By: Andron Evans On: 12/14/2009

Title: God at work

Neither FNM or PLP can do anything. The Bahamas is populated by evil minded, corrupt, morally bankrupt sinners. From the heads of government down to the bums on the street. We, for decades, chased the American dream of wealth and prosperity, meanwhile strampling on and neglecting our poor. We love money way too much. Tax havens are wrong in every sense. In other words, we are protecting people who are stealing form their own gorvernment. Why or how could that ever be considered right or acceptable. We have embraced Americanism, greedy capitalism, sinful worldly values and endeavors. What exactly did we expect to happen after decades of acting like we do? It's just too bad that innocent persons will suffer the lot of the majority, but I guess now we will all know just how poor poor can really be.

Posted By: Elgatha On: 11/21/2009

Title: Jesus Christ

Between the thugs robbing tourists and this, the Bahamas is about to if not already, be brought to its knees. Come on FNM do something.

Posted By: Derek On: 11/18/2009

Title: C.O.R.E

This is obviously a clear-cut situation where the Government should remove red-tape beauracracy and step up this initiative to sign more treaties if it is serious.
Their method should be to "deputize" key financial figures to seek, identify, research, formulate and secure jurisdictions in which to join. The actual ceremonious signing of these treaties is only a formality for the Minister. He is no more knowledgeable than those in the financial communities and only authorized to sign because of his post in the Government.
The appointment of these "TIEA" committies should come forthwith and then the Government could delegate intiatives. My grandmother used to say that "Plenty Hands make light work". Get Crackin' govt before you exacerbate this recession.

Posted By: Stanley Jackson Sr. On: 10/24/2009

Title: Diversify The Bahamas

Unfortunately the Bahamas will be greatly negativley affected by this banks departure and any others that leave our shores. The Bahamas needs to seriously consider diversifying its base by adding more value to the tourisim product. One way to acheive this would be to look at Panama's duty free shopping zone and using the Freeport trans-shipping terminal turn the Bahamas into a duty free shopping distination simular to Panama. Agriculture is another avenue for exploitation. We must stop the procrastination in Government and force sensible sustainable moves with-in the economy.

Posted By: Concerned Citizen On: 9/25/2009

Title: The Government needs to be accountable

The Government of the Bahamas' stagnation to effectively react, especially in comparison to other jurisdictions with financial services as a major industry, is very disheartening, especially given the economic climate that we are currently facing. Tourism, our number one industry is suffering and now our Private Banking sector is being threatened because those who are in the position to make the necessary changes to save such a major Industry as our Financial Services Industry are not being proactive. More financial services bodies such as AIBT and BFSB need to express views on this issue to move the government towards accountability for the citizens of The Bahamas who are employed in these sectors. This has the potential to have a domino effect and lord help us then because unemployment will skyrocket.