EDITOR, The Tribune.
Like the thousands of Bahamians who watched the April 2 edition of NB-12 evening news broadcast, I was surprised to see police and bank officials changing the locks on the Cable Beach home of Ishmael Lightbourne.
I thought Prime Minister Perry Christie’s word carried some weight among First Caribbean Bank Canadian executives when he personally intervened on Lightbourne’s behalf to stave off a foreclosure order which was handed down by bank officials a few weeks back.
From my vantage point, it now appears that the word of the Bahamian executive was overruled by the Canadian top brass. What Lightbourne needed the most, was not Christie’s verbal intervention, but cold, hard cash to save his home, which is reported to be worth $3m. No matter how one slices it, that figure is no chump change.
Surely as the minister of finance, the prime minister is keenly aware that these foreign-owned banks are in the business of making money.
Unfortunately for Lightbourne and the thousands of other Bahamian mortgagees whose homes are under water, the banks are not exactly sentimental institutions.
Whatever one thinks of Lightbourne and this entire bank intervention saga brought on by Christie, no one, including my fellow Free National Movement supporters, should gloat over Lightbourne’s misfortune.
While it is true that he was at the very least, a man of means, his inability to maintain his mortgage payments is an indication that he is experiencing financial hardship, like many thousands of other Bahamians.
He is a man who has a family, and it was reported that his wife is ill. It wouldn’t be right for anyone to express glee over this unfortunate setback for the Lightbourne family.
After all, he is first and foremost a human being, and secondly, a Bahamian.
For what it’s worth, Lightbourne’s mortgage situation is further evidence that the mortgage relief programme cannot work for over 90 per cent of the reported 4,000 Bahamian homeowners whose mortgages were in arrears.
How can a programme that was allocated $10m assist a person with a $3m mortgage? I commend the Progressive Liberal Party for at least attempting to assist distressed Bahamian homeowners. But I think the party may have over-promised.
As a fellow Bahamian and human being, I hope Lightbourne is able to save his home. It would be a tragedy for his family to lose an investment worth millions, especially at this stage in their life.
Again, no one should gloat over this unfortunate event. As the old adage goes, today for you, tomorrow for me.
KEVIN EVANS
Freeport, Grand Bahama,
April 2, 2014.
Comments
proudloudandfnm 10 years, 1 month ago
Man. Do we have any standards in this country? The man was supposed to pay tax on his home that was deliberately undervalued by well over 2.5 million. And even though he got away with a fake appraisal and ended up with practically zero taxes on the undervalued home he still refused to pay it.
The man owned a commercial building that has tenants. Refused to pay his property tax on that as well.
The man as an Executive of the friggin World Bank fell for an online Nigerian scam. A scam that is pretty much globally recognized as a scam within the first 3 seconds of reading it.
Yet despite all of this the PLP thought it prudent to hire this man to offer advice on taxes and other financial matters.
And we are the bad guys for ridiculing this crook and our PM in this situation?
Pulease......
B_I_D___ 10 years, 1 month ago
...but wait...not only did they hire him...but they admitted as well that they paid him far less than they would a foreign consultant...you just can't make this stuff up...
Honestman 10 years, 1 month ago
No one is gloating over Lightbourne's problems - this is not what it is about at all. What concerns right thinking Bahamians was the favoritism that was shown to Lightbourne by a PM who should have known better than to misuse his Executive authority. Hundreds and hundreds of ordinary "unconnected" Bahamians are losing their homes through no fault of their own. Lightbourne is a man of some means who has benefitted hugely at tax payers expense over the years (through non payment of taxes). He is in a better position than most of these unfortunate former home owners.
blackcat 10 years, 1 month ago
Dear Mr. Evans, I do hope you have the opportunity to read Honestman's valid points as well as mine and the well-written posts by others on this article.
Just because someone is criticizing the PM and Mr. Lightbourne does not mean they are "gloating" at the loss of his home. This man is well-trained in business and finance; his home was severely and purposely undervalued ; he's been involved in various scandals/scams; and now the chickens are coming home to roost. It really is a simple thing- nothing to do with gloating. It is completely unfair that this man should be allowed to evade taxes for all this time and for the PM to intervene the way he has is beyond abuse of power. And the icing on the cake is to knowingly appoint this man as a spokesperson for the collection of a brand new tax that the average Bahamian cannot afford. Do you not see reason for upset?
As you quite rightly noted, thousands of Bahamians are unable to pay their mortgages for one reason or another. Do you not think they may have family members suffering with illness , too? We wouldn't know about it because they may not be big shots like Mr. Lightbourne, but they are fellow Bahamians as well- who is to say they should not also be helped??! I am sorry to hear of his wife's illness but that has NOTHING to do with him and his family evading taxes deliberately for all these years.
The message being sent by the PM and Lightbourne is clear: Certain people are more important than others, i.e. people with power, people who support my party and are one of my cronies. If he truly wanted to be a hero, Mr. Christie should have lent or given personal funds towards the mortgage, not simply attempt to erase the situation just because he can.
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