SUNDAY SPECIAL: Who benefitted from the Sale of the valuable US Stock Portfolio belonging to the National Insurance Board? Was it a FIRE SALE PRICE LIKE BTC?
NASSAU| So the big story this week is that the Bahamian People had to find out in Parliament how the FNM Government led by “The Competent Authority”, supported by Michael Pintard and Duane Sands, sold off the entire American Stock Portfolio belonging to the National Insurance Board.
We learned this week that a decision by the Minnis Cabinet sold off our shares in Apple, Microsoft, Amazon, Cisco, JP Morgan, Wells Fargo, Facebook and Amazon, just to name a few. No one in the FNM told the public about the selloff while they flaunted the slogan “It’s about your Future” in the 2021 General Election.
This week Michael Pintard’s party suggested that the advice to sell the public shares was given to the Cabinet by Central Bank Governor John Rolle (who we know would have only penned advice NOT make the decision).
And while Mr ROLLE may have given the advice, the Minnis FNM Cabinet instructed Dr Nicola Virgil Rolle (then Director of NIB) to sell off the people’s investment. WHAT IS THIS?!
Now we are not going to blame the ROLLES (husband and wife) for what happened with the investments at NIB, the buck stops at the feet of the FNM Government which made the final decision to get rid of the Bahamian people’s stocks (VALUED IN THE MILLIONS). These are stocks that NIB collected millions from annually to help pay benefits to pensioners and its clients.
The idea that the husband and wife in their office would not look good on the face of it and echos serious conflicts if ya ask us. BUT WE DIGRESS!
We know, prior to the sale of the stocks, a move by the Minnis Government to fire Mrs Phaedra Y. Mackey-Knowles was achieved. She, readers should note, is a Chartered Financial Analyst and Certified Public Accountant who has an extensive background and experience in research, management and administration of investments accounts and Public Accounting.
She help built up the extensive investment portfolio for Mama Dem in NIB to help secure the Fund for future generations yet to be born. The move to get rid of Mackey-Knowles appears to be a planned move to destroy the investments and move them out from NIB’s vast portfolio. THE PLOT THICKENS!
And what concerns us is the fact that SELLING THE BAHAMIAN ASSETS appears to be a pattern exercised by the FNM against the wishes or profit of the Bahamian people who are the owners of these assets.
The FNM sold BTC, a profitable telephone corporation – after firing hundreds of competent Bahamians – at a fire sale price, again depleting the competent professional talent which built the success of BTC over many years.
The FNM Government signed onto a big deal to the oligarchs at the Arawak Port Development and then GAVE AWAY the Prince George Wharf (another profit generating asset of the Bahamian people ) with us now answerable to the people who are in charge of our port asset. This is a pattern, people.
Most a yinner still don’t get it, but there is a movement afoot in our political class today to erase the many advances that started to generate wealth and independence for the Bahamian people. And we ga tell yinner like PINDLING – IF YOU DO NOT STAND UP AGAINST SUCH BACKSIDE RAPE OF THE PEOPLE’S ASSETS THEN YOU DO NOT DESERVE TO HAVE IT!
The questions we have, though, for the FNM and its stakeholders in the media are these:
Why were the revelations in Parliament redacted in the morning dailies for notice to the Bahamian people? Yinner does report everything else! WHY WAS IT IMPORTANT TO NOT PUBLISH THE REVELATIONS AT NIB?
Who are the beneficial owners of the Millions of shares transferred away from the Bahamian people following the sale of the American portfolio of NIB? (Dr Nicola Virgil Rolle was swiftly hired by the people behind the gates of Lyford Cay following the FIRE SALE of the BTC Assets. YINNER SEE ANY CONNECTION HERE?)
Was a sitting member of the Cabinet of the Bahamas at the time connected to or benefitted from the sale of the NIB Shares in those large US Corporations? WE AT BP WANTS TO KNOW!
WHO deep behind the walls of Lyford Cay had their hands in the sale of the people’s American portfolio at NIB? WHO?!
When was Michael Pintard or Hubert Minnis going to tell the Bahamian people what they did with NIB stocks leaving mama dem pension funds in a crisis?
We have many more questions and, believe it or not, we know much more than we are saying! Someone needs to stand up in the FNM and address this backside rape at NIB against the people. And, well, yinner silence says alot! (well, at least to this writer).
We report yinner decide!
