EDITOR, The Tribune
‘BOB losses slash NIB income 66%’ (Tribune Business, September 9). It is as if simply publishing this fact, is a sufficient discharge and apology, for what can only be a gross breach of the public trust.
One can have no doubt, as to the source of the machinations, that would have lead to the National Insurance Board’s investment committee decision, to place the hard-earned money of the working people of this country, past and present, in such a dubious institution as Bank of The Bahamas.
Frequently we see lawyers, accountants and various others before the courts of this country, charged with criminal offences, which have arisen from very similar circumstances, where the person charged has used poor judgment resulting in the loss of monies given to them in “trust” by someone else.
Those responsible for these decisions at NIB, whether instructed by the Government or not, must be accountable for what is clearly a breach of their fiduciary trust and duty to the workers of this country. Where was the Central Bank when all of this went down? Surely they regulate, or have oversight, of the NIB and its investments? If not, why not?
The Government members for themselves, led by Perry Gladstone Christie, should all put on sackcloth and cover their heads in ashes at the next sitting of the House of Assembly, as a sign of deep repentance and apology to God and the people of this country. This is wanton waste!
As “Comrade” TalRussell, a commenter on Tribune242.com has frequently posted of late, “the government’s constant robbing of Peter to pay Paul will undoubtedly result in many thousands of disaffected and abused Peters, delivering a severe recompense to the governing party come the next election”.
The income loss this year will be the same or more next year. This is not a one off hiccup. The money is gone but not forgotten.
BRUCE G RAINE
Nassau,
September 9, 2015.
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