Mac defends mortgage plans
(CNS): The premier has denied that his intention to earmark $2.5 million of Dart money to help pay off mortgage arrears is a form of political handout or that it is propping up irresponsible people. McKeeva Bush said it was “nothing like that” as the funds would be used to help those who were most in need and about to lose their homes. Speaking at a public meeting in Bodden Town on Thursday evening, he said the programme may have been criticised but it was to help those who were about to have their property taken away by lending institutions. He said the critics were out of touch about the harsh reality faced by some people who through no fault of their own were about to lose their homes.
“No we can’t help everyone,” he said. “But this will help some of the most needy ones,” he told the audience of around 100 people who had come to hear what the ForCayman Alliance would mean for their district.
The premier insisted that the initiative was not to reward irresponsible behaviour when it came to meeting mortgage obligations but it was for those who were in genuine need because of the economic crisis. Bush also hit out at his critics, in particular the opposition members of the Legislative Assembly, syaing that he knew people were coming to them as much as people were coming to government about the seriousness of the problem. Furthermore, the premier claimed that it was their fault as they had denied the impending economic crisis and had messed up the economy. Despite that, he said, people say he should not keep blaming the opposition more than two years after being in office, but he did it because it was true.
The premier revealed that his ministry would announce the details of the programme over the next week or two and a committee was being set up which would distribute the funds. The cash is coming out of the $18 million cash donation that Dart has agreed to give to the government as part of the ForCayman deal earmarked for community projects.
“As a government we want to ensure a structure with accountability, transparency and efficiency while getting assistance to those who need it most,” he said. “The Ministry of Finance is assembling a committee of qualified persons from three local banks and the Department of Finance who will develop the application process and the criteria.”
The premier also stated that the money was a loan fund and it would be given to the banks and lending institutions that were about to repossess homes and not directly to the individual people involved.
Check back to CNS later today for more on the Bodden Town meeting.
Category: Politics
Where do I apply for the free money ???
Some of you people make me sick to the stomach. You remind me of a baby bird always opening your beaks and look for handout. The government need to stop feeding you to make you so dependant on government assistance. You need to be kicked out of your nest to learn to grow up. Go find youselves a job and support yourself and life style. Many of you want to get you nails and hair done every weekend, buy beers and watch TV all day at the expense of tax payers. People with this kind of mentality should be removed and sent to a district of their own so that they can wait for hand outs.
Who says only Caymanians are getting the mortgage help funds?
Flamer…..
The government cannot discriminate against residents on the basis of the national origins. Anyone can apply and if they are denied they can sue the governor in the UK for damages.
It is idiots like you that we have to be concerned about in this country. And to think that you have the nerve to talk about a Caymanian sense of entitlement! The Govt. can of course discriminate on the basis of whether you are a citizen.
Dart giving back to community isn't a bad thing. However giving people complete handouts is. It wouldn't be right to just pay off their mortgage, give them an allowance to help get back on their feet monthly. Help them find a job, give their kids the best education. These are real ways in which the government can help. What he is proposing is only short solution. We need solutions to help sustain us, maintain us, and to rejuvinate us. Hand outs to pay off mortgages is not the answer. Empowering our people is.
Hey remember how Dart states his projects give Caymanians jobs….lmao go look at Camana Bay. I can probably count Caymanians on one hand
Our father, thou art in charge of our nation. Thou hath raised our import duties, our port charges, our planning fees, our surveying fees, our company fees, our work permit fees, our fuel fees, and any other fees that thou could cast thy hand upon.
Thou and thou disciples, hath caused much hardship upon the peoples of our nation.
Thou hath journeyed to the far corners of the earth, and carried all of thy sagacious cohorts.
Thou hath bestowed upon thyself, double compensation by grasping unto thy present remunerations, while clutching thy past disbursements at the same time. Thou hath allotted unto thy palace, improvements and servants, and a chauffer to direct thy carriage, much to our deprivation.
Thou hath appropriated some seven million of our tariffs to enrich the churches of thy most fervent faction, and for other gratuitous objectives. Thy disciple on thy right hand hath bequeathed upon her followers, the tarmac for their exclusive lands.
The consequence of the decisions and dealings of thy disciples, and thyself, is that our nation has fallen financially.
Now thou art contemplating appropriating further of our resources to compensate some of the populace for their indebtedness. And there is hearsay about creating idols and statutes to show the goodness of our peoples,
Thou and thou disciples, hath caused considerable hardship upon the peoples of our nation.
We pray to you our father:
Stop thy bunkum, take thy golden parachute, jump from thy lofty pedestal, and take thy disciples with thee…
Amen
This Kenneth Dart is not the guy you want your premier and country to be asociated with.
He will do to your country what he did to others.
Under the umbrella of christianity, bush is fooling everybody in exchange for power and money.
History will show, but people will forget. Especially here……..
http://caps.fool.com/Blogs/who-is-kenneth-b-dart-and-why/388891
http://articles.latimes.com/2008/jun/15/business/fi-perfin15
http://en.wikipedia.org/wiki/Vulture_fund
Only the foolish and weak in mind will beleive that Dart means well for our island. All those that think he's their ship coming in, they should steer clear of the dock as it will not be any good to them. Its a shame that we do not try to find out more about this man before we accept his measley hand outs that he requires us to pay back to him by taking away our freedom and beloved isle. Be aware of whats going on.
All of those objecting to this should be ashamed of themselves, why let people loose their home and have no where to turn to. HE WHO FELS IT KNOWS IT. Mr Premier, I thant you very much for you effort to help these people. Dont pay any attention to those Nay sayers, XXXX
Somethingwe should consider is that while Mr. Bush is merrily handing out the government's money, institutions like UCCI (which has not been allowed to raise tuition for years) are limping along on a shoe string.
Everyone knows that in a recession, with attendant job losses, people turn to education — suggesting that the government should increase rather than cut grants to UCCI so that increased demand can be met.
Now here's a novel idea — invest in education during lean years when there is decreased demand for workers, so maximising opportunity for people development. When times improve, the country has a better trained and educated population to fill newly added jobs.
A person should be responsible for him/herself. Loosing a home, car, or meal because you can't pay for it is reality. Just as taking care of people to by a vote is.
Posted by someone who is going to have their mortgage paid no doubt
Let me tell you what amazes me about this man….
Even as the bad guy to all Caymanians he does chit that confuses the mentally inept so they think he's the hero.
I know that might confuse some so let me explain what I mean.
He has but single handedly put more Caymanians out of work than any of the last 10 governments combined. With the tax hikes on duties, work permits, business fees and gas. So here we have a man who has put more people out of jobs that anyone.
Now what does he do….
When he wants people to march beside him he calls on the people he put out of work claiming he's going to help them. Say wuh!! AND THEY SHOW UP EN MASS!!!!!
As if that is not strange enough now he's offering programs to help them pay their bills because he caused them to loose their jobs. Well the last part he doesn't say but it's the facts.
Here's an idea…..let me speak it slow so you can keep up Mr Bush. REVERSE THE HIKES!!!
No smart person during a recession raises fees. Businesses are already struggling and you make it harder?? Lower fees and make these business able to survive. You claim to want to help businesses but what you meant to say you want to help BIG businesses and put it to the little man.
I recall from the very beginning, Bush spoke about how the UK gave him a deadline to balance the budget or else direct taxation would have to be imposed on the Cayman Islands. Even Tim Ridley suggested that a property tax would have been better than an Income one, but the realstate fought it down. The UK put the fear of God in all of us, and McKeeva repeated the warning and the blame on the previous government, which they themselves failed the people. Then Mr. Miller came down and did his Miller's report, suggesting that government reduce its size and lower fees and permits. That was never crystalized. McKeeva instead choose the way of mainly creating revenue instead of cutting expenditures and reducing government. He chose the way of securing his votes. Hence, he allied with Dart and well-off people in his travels in order to maintain the size of his government and secure civil servants being the highest paid in the Caribbean. He is definitely looking out for his political interest, and if the PPM was in, I wouldn't be surprise they would look out for their voters and the civil service too. Thanks to this foolish political system we have under the UK, we will always be voting in elections for change of government, and yet no change, because our Constitution excludes the people and they have no say in planning approvals for developments and market takeovers!
As per your qoute, "No smart person". The key word in that statement is "smart". The premier brags about not even having an education past 5th form. This is the man who bragged about a lot before and after the last election, but has produced more poverty in the Cayman Islands than ny other government in the past. This man is not "smart". He is brilliant in making promises, but does not have sufficient brain power and education to make his promises come true. He is taking care of his future and if the Governor does not stop him now, we will become sister country to Cuba and Venezuela. Then, as the old Caymanians used to say, "Dog done eat our supper".
Property ownership is not a right it is a privilege. Those who cannot afford to own have no right to moan to the state to help them with their investments they cannot maintain. I do hope the local banks enforce more forcefully on defaulters as they are only driving up the costs for those who can pay their debts otherwise. This waste of money is a disgrace.
While I am sure there are some justifiable cases for help with mortgages, I think that by and large I agree with those posters who speak to the need for different overarching strategies. Let's not put a band aid on the problem.
Having said that, however, Mr. Bush is trying to generate economic growth and get projects going, but as a population we tend to condemn a lot of useful initiatives.
For example, of course Mr. Dart is a businessman, but he has and is doing a great deal of good for Cayman, and if the figures were disclosed I am sure that we are better off in the job market, inflow of revenue to government, and general aesthetics because of Mr. Dart. As far as I am concerned, bring it on, Mr. Dart.
Have we become a country of naysayers? And how productive is that?
Mr. Bush, neverteless, distributing money is a dangerous policy and smacks of patronage.
Keep working at generating jobs, lowering electricity rates, working to lower food costs (really not sure how that can be done) — efforts like those.
Caymanians, for your part, you cannot have it all — cut back on your spending — you may have to sell the second car, opt for cost-free local recreation (yes, it can be done, and may enrich family bonds), spend less on clothing and shoes (try shopping in your closets, for example), etc.
And, Mr. Bush, watch these handouts to the churches, as well. The church must, as well, cut its cloak according to its cloth, and the members should bear the brunt of physical expansion — if chruches need more space, members should give the money and contribute labour. If you need social programmes, check with your church's overseas missions — what programmes are they running? How can church members here be initiated so that those programmes can be run here? Have a bake sale to send church members to overseas missions for training.
It just all seems to be coming down to a money mentality, and we are losing our problem solving skills that can come from our creativity, determination and elbow grease.
When I was growing up, much of our social work was done by church members who saw a need and filled it . We are demonstrating too much of this mentality that we have to buy everything.
I just hope that you house is paid and that you never fall on hards times, never have to go to a pawn shop, better yet I trust that a bank won't have to forcefully evict you from your house or that a creditor won't have to take you to court for default. Then again I guess from your statements you have more money than the House of Windsor and you're just too smart to fail.
I beleive that 100% of the posters on this wall who are complaining about Mr. Bush assisting those who are about to lose their homes are in good standing with their mortgages and earn sufficient income to cover all their expenses and have some to save as well. And then of course, you have the opposition who chose this forum to complain about everything the man does.
These naysayers probably have never been out of a job, experienced hard times or since qualifying for the mortgage years ago have now seen a decrease in income. It's easy for the haves to complain about the have nots and what they should do to solve all their problems.
Rather than tell us not to accept the money why don't you come up with another solution to help us hold on to our homes. Letting go of our homes is not an option!
No body is perfect and I am sure the premier would be the first to say that he is not. Imperfection is inherent in all of us. Embrace your imperfection and you complainers should have a more fulfilling life rather than obsessing over this man who is only human, and loves his country and its people.
When is the program coming on line – I can hardly wait as I am looking at aforeclosure court order as I write this. Just need some help right now, after that I should be Ok.
There are a ton of places for rent on this island. It's not as bad as you think.
There are a ton of places for rent on this island. It's worse than you think.
Over 4 millon dollars for churches. Over $4000 for the florists, Monies for scholarships. Traveling excessively. All of this at our expense
The Premier cut the civil servants pay which included the teachers pay. The children are the future.
He also added more duties on goods and fuel. This is making it more difficult for people to pay their utlility bills. In difficult financial times prices should be lower not higher.
All of this and he is double dipping and taking HIS pension at the same time as his salary.
This country is in debt and he wants to get us in more debt by borrowing from Dart. How is this country going to pay back those monies. It is not and Dart will own the country.
Proper debt management is our priority. A responsible financial minister would immediately halt all non-essential spending and hold all current projects until we are again solvent as a country.
STOP him now before it is too late. It is time for some more marches as the world now knows what is going on in Cayman and all of this will seal our fate.
I understand that for one of the recipients of hurricane shutters, it included a rental property! That is wrong!!
17:57 There seems to be two persons double dipping so presumably they have two different properties…….mayble one is the rental or vacation property. Lord have mercy!!. Check the list
Name them and shame them. Of course some people have no shame but we should all know who benefits from these shady deals.
“Give a man a fish; you have fed him for today. Teach a man to fish; and you have fed him for a lifetime”—Author unknown
Yes I agree Caymanians are facing difficult financial situations and so is most of the world. I will not criticise the Premier for trying to help the Caymanians that find themselves in the very sad position of losing their homes. I can only imagine how difficult this must be. However instead of just giving money to home owners to pay off deliquent loans I would encourage the Premier to get with his economic advisors and the lending institutions of these unfortunate Caymanians and come up with a plan to bring the deliquent borrowers up to date and to keep the loan payments current. Just by prudent and fiscal planning it can be done most of these financial institutions are going thru difficulties as well and are quite willing to neogatiate, these are just difficult time for all.
As difficult as the times are government must realise that Caymanians must be given job opportunities in their own country and stop using work permits as a source of revenue. Caymanians on the other hand need to realise that no job should be beneath us. Employers should also know that an honest days work deserves an honest days pay.
I saw this situation coming, just did not know it would happen so soon. My fellow Caymanians politicians of all persuasions let us fight together to keep this ship Cayman afloat. All of us need to work together to make whatever necessary sacrifices to have this happen. Most of the world is in a similar situation, atleast there are still job opportunities here at home in the Cayman Islands, let us embrace the opportunities because they will not last forever. People there are 20,000 work permits issued. I know that there are some specalised jobs that there are not enough Cayman to fill, however there are atleast 10,000 jobs that Caymanians can do if given the right training and job opportunity.
The generation 35 and under born and raised in this country do not know need. When despair set in we all know what can and will happen and no Caymanian want to see this. Wake up Cayman, set your house in order before it's too late.
Mr. Dart is very, very clever – Caymana Bay 20 year project, taking his time navigating the expected undulations along the way with subtle manipulation. Mr. Bush, he not quite so, – band aid politics, short term skirmishes, with no real plan and overt manipulation.
Whatever Mr. Bush feells he is achieving here, the reality remains most of it consists of no depth nor refined thinking. If only Mr. Bush would learn as well as rub shoulders with his conveniently found peers.
I remember when Dart first arrived on Cayman. The overall feeling back then was that he had the intention of owning the Cayman Islands and doing with it whatever suited him. He found the perfect tool in the "premier" to aide him on his journey.
The CI were a wonderful place. What has happened? The people need to unite and get their country back before too much damage is done.
The damage is already done and getting worse every day. You can't unriing this bell.
Perfect use of the word tool
let's do a poll
if you:
– are on the verge of losing your home?
– have exhausted all efforts to get any job even if it is less ideal in nature or pay than you really wanted?
– don't have a blackberry (whether you pay for bb serviceor not)?
– not been to miami in the last year?
– don't drive a car that costs more than your last annual salary?
– don't go out on the town twice a month and have to buy new clothes to do so?
If you answer yes to all of the above, click like below. Let's see really how many people would be appropriate to even *consider* mortgage relief
Bet it's not a whole lot.
What's funny to me is how so many that clicked yes can still afford to pay for internet service so they are able to read this poll LOL
Most of them must not have read the questions properly
Banks are in the business of lending money not in thereal estate business. Banks do not want our homes; what would the bank do with 100 repossessed homes?? Who would buy them from the bank for them to get thier cash back?? In other words, the banks will work with you if you find yourself in motgage difficulty. It may extend the term of your loan but at least you are better off owing the banks as opposed to getting mixed up in the Mac/Dart fiasco that is no more than an attempt to put a noose around your vote.
CNS This was a good and informative meeting. Why is it that you a;ways focus on the most controversial parts of anything and not give us good reporting on the entire meeting?..Give us some of the details about the landfill, and how it is proposed to be done.
I know that sensational headlines sell better than good news ones but it would be nice to see some fair and balanced reporting despite yout ongoing feud with the government.
CNS: If you read down to the last sentence you will see that there will be more on this meeting and the landfill in other articles but this particular issue was worthy of an article by itself. As far as we are concerned, there is no "ongoing feud" with the government. We are merely doing what we believe the media should be doing, whoever is in government, which is to ask legitimate questions and to report on matters we feel the public should know about. If others see that as a "feud", then they are wrong, and frankly silly, but that is their concern. If the media shies away from controversial issues just because the government and its supporters find them uncomfortable then we are not doing our job.
Forget the naysayers and critics Mr. Premier do what you know is right for and by your people and country. Strive to have your actions above board and you will be just fine,be blessed. Remember Jesus came to this earth gave his all and even died for mankind and could not please them so as a mortal man don't even try to. Only do what you know is right.
Who doesn't gag at reading a comparison of Mac to Jesus? Seriously, you must be one of those no good West Bayers being paid $3000 a month to sit on your ass in Barkers.
Please do not compare our lord Jesus Christ to this very shoddy example of a premier. XXX The Cayman Islands are now in a worse situation then we have ever been in. I used to be able to go to the supermarket with 600.00 and buy groceries for my family for a month, Now I go and the same 600.00 can only provide food for my family of 5 for about 2 weeks. If prices continue, we will wind up paying 10.00 for a gallon of milk, which can be purchased retail in the US for about 3.80. McKeeva Bush is only paving the way for his re-election, so watch yourselves if he has another landslide in West Bay. If that happens, maybe that would be the time to cut that district away from the rest of Grand Cayman
a friend of mines recently came and worked in cayman for a well known caymanian brother.he was treated badly and left with the employer still owing him his salary.
I hope this is not the trend of all business men, because we will not get skilled quality workers to come here ,with this as a taste of what cayman offers.
I think we should respect others.
the chap came and gave his all without delay and for what, nothing.he helped build your business, from selling a couple yards of concrete a week to more than you expected.
Pay my friend, you know who you are, will he have to wait like the bank or will i have to help him take you to court.
start thinking my brother, pay up people that you owe
Unfortunately this is only one of thousands of similar local stories. This is the "Cayman Catch and Release" program. Lure the expat in with promises of fair compensation for services rendered. Make sure the bait includes a strong dose of lovely year round weather in a "Christian" community. Work the expat until they are completely exhausted (sometimes they are known to last up to 7 years). Once they have finally given up any hope of survival, you "ROLL" them back injured and forever scarred to fend for themselves somewhere else. Who cares where? – just not here! Those darn expats owe us ya know! We must take what we deserve. Okay that one's gone………. who's next?????
Arrrgghhhh! Me thinks the dreaded pirate blood still runs deep here me mateys. No wonder there is so much controversy against Pirate's Week. It exposes to the world the true nature of many in Cayman. There are some good and truly honorable people here. Unfortunately, many of them also suffer at the greedy hands of thier own people. They say that those who are abused often feel compelled to become abusers. That's okay – I forgive you. Bye-bye!
Bye Mista Rolly. sorry for keeping you here in chains for seven long years and working your backside off like that. That's WORSE than piracy, that's actually slavery. Are you certain it was a Caymanian and not one of your own kind that kept you chained in Cayman all those years and worked you almost to death? Shame on the worthless bugger, whoever he is, taking advantage of poor Mista Rolly like that. Bye-Bye Mista Rolly, we strongly suggest you stay home and make a decent living in your own country from now on.
Your apology on behalf of all Caymanians is very much appreciated, even if it was tongue in cheek. At least you are aware these things are happening and willing to admit it in writing. It made me smile – thank you! LOL
A chain is when you have no choice. I CHOSE to stay & fill my "Caymanian" employer's pocket with profit, yet somehow his bills kept climbing. I suppose it's not easy to maintain a lifestyle of leisure while your employees do the work you take credit for.
I CHOSE to continue teaching by example. I CHOSE TO give him ample opportunity to prove he was the Christian man of his word that he professed to be. I CHOSE to speak out about this, hoping at least one Caymanian employer might look in the mirror and say "what am I doing"?. I CHOSE to write this in order to remind other ex-pats that the gamble they are taking has very high stakes.
On a good note, I really did enjoy the lovely weather and the life-long friendships I made with many honorable Caymanians.
Mista Rolly comments may be tongue in cheek but he/she makes a good point. All the talk about expats looking after expats is rubbish considering that it is Caymanians who own the businesses here. It is Caymanian screwing Caymanian, but the business owners are happy for the expats to take the fall becasue they are getting richer and richer utilising labour that is no only cheaper but twice as productive.
I am so sick of hearing this nonsense comment. The major private sector employers on the Island are not Caymanian owned – Banks, Fund Administrators, Accounting Firms, Law Firms etc. etc. – and by and large the people who make hiring, promotion and firing decisions (as opposed to those who take the fall for it) are not Caymanian.
No one was brought here forcibly or by trickery or false pretences. If you do not like what you found there are flights every day.
TWELVE thumb downs??? In the face of the very obvious truth?
This is another nonsensical idea. The reason why people cannot pay their mortgages (remember, we're not talking about the poor here — in general, they do not have mortgages — we're talking about the middle-class) is because of failed economic policies: raising taxes in a recession — in particular the fuel dury increase; raising duty on imports making the cost of everything more expesnive; the lack of proper economic stimuli to create jobs so people can actually pay their mortgages (not via inward investors, Mr. Bush, but by creating favorable economic conditions for local businesses to flourish) and so on.
Surely, Caymanians will not allow the Premier to patronize them in this way? During his first 2-years in office, the UDP (Bush) has allowed the economy to slide further into recession, and now heen insults the electorate by offfering to pay a few mortgage payments to make ammends? Make people beggars then give them hand-outs? I read below that some of you would be happy for the hand-out. Shame on you. You should have more pride. You should demand more from your elected officials than just a few crumbs from their table.
It's clear the government have absolutely no idea how to salvage Cayman's financial position. They stumble from one hare-brained idea to the next. The UDP (Bush) is a one trick economic pony: foreign investment at ANY cost. They are completely devoid of ideas to promote medium to long-term economic growth. It's clear Bush has absolutely no faith in Caymanian entrepreneurs to stage a financial recovery for Cayman. If, like Mr. Bush, you think a couple of inward investment projects (i.e.,Dart and Shetty) will save the Cayman economy you will be sorely dissappointed. Camana Bay is a big ongoing project and the The Ritz Carlton was also a big project, but the country finds itself in financial dire economical straights despite these two large inward investments.
I would suggest "granny wits" is not enough to lead Cayman successfully though this financial crisis.
I won't allow pride to cause me to lose my home to the bank. I can't afford to bring my mortgage up to date and need some assistance. 18.55 I can hear that you are not on the verge of losing your home like I am. And it's not that I am irresponsible but life happened and I fell behind in my payments.
A hand out to you is considered some much needed help for me. Do you consider the feeding of the 5,000 by Jesus to be a hand out as well? After all he could have taught them all to fish for their own lunch on that day.
This hand out rhetoric has got to stop; there are people out there who would much prefer to sort out their own mortgage dilema; however they simply don't have what it takes to bring those arrears current.
I for one am in that boat and I can tell that you that as soon as that program is up and running I will be applying. I can't afford to to lose my home because of a couple of jackassess like some of these bloggers who don't have a clue what it's like to worry every night about losing my home and having my family split up because we don't have anywhere to stay because there is not enough room for all of us. Thank you Mr. Premier and keep helping people despite the criticism!
Oh boy, another comparison of Mac to Jesus, pass the sick sac please. Instead of selling yourself and your vote to Mac, go to your bank and ask them to refinance, sell the laptop you are blogging on, get rid of your Crackberry if you have one. There are other ways to save your home that being beholden to him for the rest of your life.
Right on, Brother!
Actually I am a sister, but thanks for the comment 🙂
Mac is now Jesus????
The Premier demonstrates what Jesus taught – Love thy neighbor as thyself. He is certainly not Jesus but his heart is in the right place and he is trying despite the constant challenges and obstructions he face.
The Premier is one of the most generous men that I know, and if people are truthful, PPM, UDP and independent supporters alike, will say, that at some time in their life, they have received some form of assistance from Mr. Bush.
From the first time I met him some 35 years ago, his concerns have always been about the people of the Cayman Islands and reducing their struggles.
Sometimes the best person to understand what other people suffer and empathize with the challenges they face, is the person who has had to face the same things – and he certainly had his share of problems, from being too poor to not being blue blood enough for some.
Beleive that if he had come from the so called 'right familiy lineage' the road to success would not have been as hellish. He is a role model for our youth; demonstrating that with lots of hard work and perservance, all things are possible, even though you may not be born into money.
A number of people whom he has helped, the most surprising ones, would not want to let anyone know that despite the constant dissing of him he has shown them love instead, extended the olive branch to them rather than the knife in the back as they do him.
It is easy to be generous with other people's money.
Mr. Bush might be a good person, I will give him the benefit of the doubt. He may view himself as a Caymanian "Robin Hood".
However, he is the premier of our country and we must look tohim principly for long term good governance that will set the stage for long term peace and prosperity, not short term hand outs that will eventually turn the country into a third world welfare state with a huge economic gap between the rich and the poor.
A large economic gap between the rich and poor leads to high crime, violence, burgler bars and a tourism product based on all-inclusive resorts that are hidden behind razor wire.
A large economic gap between the rich and poor is a symptom of a greedy and un-christian society. Is this the future we want for our children?
Check out WB Weslyan church. The millions in 'nation building' are noted with plaques giving credit to Mac as benefactor, not the People of the Cayman Islands.
If Mr. Bush wants to be generous, let him be generous with his own money.
I guess he must be Cesar then cause the bible says give unto Cesar what is Cesar's and he's getting it all.
In reply to Anonymous 17:12:
How long have you been a member of that church that got the "heaven sent" moolah???
I don't remember reading about Jesus increasing poor peoples' taxes and literally robbing them to give huge sums of their money to the churches. Yes he is definitely one of the most generous men you know, WITH OTHER PEOPLES MONEY, and for his own selfish reasons. Have you heard of McKeeva giving millions of HIS dollars to any church in Cayman?
An old proverb says, “Give me a fish, and I will eat for today, teach me to fish, and I will eat for a lifetime.
Premier McKeeve Bush and Mr. Kenneth Dart, if you truly want to help Cayman Islands provide a vocational-technical school, which will benefit the people of these islands for generations to come instead of a handout which is only good for a day.
The intent to earmark $2.5 million of Dart money to help payoff mortgages in arrears is an attempt to bribe Caymanians. It's time for the puppet master and his puppets to go.
Stand up and be counted. How many other rich Caymanian business people do you hear of that are spending money the way Dart is doing in a effort to shore up the economy.
These rich Caymanians XXXX Cayman in the time of plenty, now that the people need help they are selectively silent. Shame on you as we all know who the rich Cayman families are.
Now is the time to stand up and be counted. The island that made you so rich needs you now. Find someone to help, take some of that old Cayman money out of your vaults where it is gathering dust and make a difference.
Mr . Dart I hope that I get an opportunity to meet you one of these days. Just ignore these jealous people who wish they had your unlimited resources. The only thing is, their money would stay safely tucked away in a bank and they would not lift a finger to help anyone other than themselves.
Thank you again Mr. Dart.
CNS: I've XXX'd out the word "rape" as used in the sense of "taking advantage of us", which is how it is being used increasingly in the comments. Rape is a violent sexual act and the word should not be identified with "made some money". In trying to emphasise how you feel in this context you are watering down its actual meaning. Find another word or phrase next time, please.
If he gives money to some…he should have to give money to ALL! That is the only fair way to do it. $2.5 million divided by 35,000 Caymanians = $71.42 each…Get in line for the Nanny State you Government Dependent Sheep!
So you think the multi-millionaire Caymanians should get an equal portion of the funds as a single mother who has gotten sick so cannot work and is about to lose her home?
Listen, ideologically I'm with you. I'm very much in "give a man a fish feed him for a day, teach a man to fish and feed him for a livetime" camp. However, I'm also aware of the practical realities that sometimes there are people who just need a bit of help. I hate to sound judgemental….. but I'm going to here (sorry).
On this board we are always hearing complaints about the government not doing enough to help Caymanians. Then when they do something, there are complaints it is going to the wrong Caymanians (suspicions only UDP voters benefit). If we assume this independant 3rd party commitee does a proper job, this is a case where government will be providing help to Caymanians in need in a fair way. However, many on this board are still dead against it. It is a bit hard to understand unless thier concerns are less about helping Caymanians in general and more a case of "Hey I'm Caymanian! You should give me money!!!!"
I feel very sorry for you. You have been stuck in the mind set that the "Government" is here to protect you financial being and help you out when you can't make ends meet. Unfortunatly for you this will never be rthe case. You need to stop being so dependant on you "Government" for everything and realize that you and your family and friends are the Government and help each other. Depending on a corrupt entity will only bring you sorrow! Wake Up!
Yes it is those multi millionaires that have been paying the most into the government coffers through taxes and duties, so it should be reasonable that they receive a fair share out.
Why should I pay for some single mom with slack morals to save her having to work for a living like the rest of us. The wannabe gangsta dad should be made to pay and those church going zealots should be stopping ramming their drivel down the honest folk's throats and preach a bit closer to home, to their daughters and nieces, tell them to stop sleeping around and taking risks.
Being a single mum means they should pay more into society not less.
This is so wrong on so many levels it beggars belief. Paying people's mortgages what an absurb idea. This really does show the stupidity of this government. That money should be put into job creation to help people help themselves…unbelievable. When will a Caymanian with half a brain stand up for election. The IQ of both parties politicians is 0.00001.
My good friend has been abandoned here with three children by a husaband who is in business here with one of McDummer's cronies who he gave status to and who has been reported to several agencies andauthorities for fraud. Thats a whole other subject. She works full time to educate and support her children and has already lost her home and car. She is managing to survive off of the kindness and generosity of some wonderful people. I bet she wouldnt even be considered for a share of this handout but others who have failed to pay their mortgages yet are still driving BMW's and Benz's will get…..I was unemployed for 8 months and had to look every day for a job and got rejected at every level without any assistance and I still had to use my savings to pay for what I needed or owed…not trips to Miami to shop or another piece of jewellery or rims for my truck. This move like evey other move Macdummer and company makes here is simply Effed Up. If there was to be any fairness in this the money Govt made on the sale of this land, the Cayman People's Land , should all be be given to the people of these islands….Born Caymanians, Indigenous Caymanians, Generational Caymanians and equally shared regardless of how poor or how wealthy. Whether its $1.00 or $100.00 we could rightfully keep what should be ours or share with those we know are in genuine need as Caymanians do. This is yet another dummer Macdummer plan to buy votes as we all know and I'm sure the West Bayers are the ones he is considering have more of a genuine need of monetary assistance. They should be ashamed to have voted this pompous arrogant uneducated fool in and got us all in the mess we're in.
D-fence (clap clap clap) D-fence (clap clap clap)
Mac: "Peter, help me nuh…"
any comment mr. governor?
There is a word for this kind of assistance. I think it is called "XXXXXXX". Mr. Governor, would it be possible to call in the Brits, or are they still on vacation whilst London burns because of this exact kind of thing that has caused people to believe paying their debts is an entitlement. I heard one woman tell a TV reporter in London that she was stealing flat screen TVs because she was taking her Taxes back. Its just a matter of time for us too.
So those that cannot affor d to pay a banks mortage will suddenly be able to afford to pay back government?? Will a 30 year mortage turn out to be for 50-60 years? TAke a step back people and think this through before commiting yourselves to responsibilities that will have the same end results.
BAD IDEA!!! Just as bad as taking pension money to buy land or house…if you can not afford do not commit!
The intent to earmark $2.5 million of Dart money to help payoff mortgages in arrears is an attempt to bribe Caymanians. You can do it as much as you want, but not for as long as you like McKeeve and Dart.
Cayman Islands were not built on handouts; therefore, let us not start it today.
Don't think it is an attempt to bribe, the man simply wants to help. Some people like yourself, 15.40 will find a problem for every solution. What was the last time you gave a needy person a bag of groceries? Or would you much prefert thatperson to starve because you consider giving that kind of help a handout?
An old proverb says, “Give me a fish, and I will eat for today, teach me to fish, and I will eat for a lifetime.
Premier McKeeve Bush and Mr. Kenneth Dart, if you truly want to help Cayman Islands provide a vocational-technical school, which will benefit the people of these islands for generations to come instead of a handout which is only good for a day.
The problem is that much of West Bay has been built on handouts from McKeeva and they don't know any other way to live so they vote him back and and the rest of us have to live with it. Sigh…………
Here is an idea….use that money to give these people a JOB.
Instead of just giving the cash to them, give them a JOB. Clean up the streets, work at the Hospice Care, help out at the Humaine Society – my point is there are PLENTY of very worthy causes crying out for volunteers. Have the government provide them with a salary for doing it and staff it up.
And he can't find money to finish the high school in Frank Sound. Mac, get this clear – Alden didn't cause the recession. PPM didn't cause the recession. They merely tried to build for a better future, the infrastructure that you all had previously ignored. But when you talk about being prudent, globe trotting is not being prudent, spending government's money on things that are not for the collective good of the country is not being prudent, creating a slush fund in the name of Nation Building is not being prudent and not answering questions about how the money is spent is not being transparent. You should have to answer those questions publicly and your Chief Officer should have to answer as to what advice he gave you on the legality of some of these things. I do blame Alden and PPM for a constitution that allows politicians so much maneuverability. The Premier and Ministers should be elected by the whole population. Their pension should only be half as good as it is if they did not have businesses outside of their political office and they should not be entitled to pension if they have had business interests in addition to their political office. The way I see it is that this system is broken and it is merely a game that is being played. It needs to be fixed so that anyone with the slightest inclination to become corrupt is quickly exposed and booted out. Full stop.
Oh poor thing!
PPM ignored the recession which is just as bad
If the PPM ignored the impending recession, what has the UDP done? They have no excuse because they acknowledged it from when the PPM was in power, but they have spent like there wasn't one. It seems like they lamented that the PPM didn't leave them more to squander, because they sure haven't spent much on completing the infrastructural needs of the country, which by the way, the PPM were trying to address when the recession started. You may also recall that the financial secretary was giving them figures that wern't completely accurate. So stop blaming the PPM, because the UDP has done far worse. They have hit rock bottom and they're still digging the hole in my opinion.
You make so many good points but I could not agree with all of them so I did not give you a thumbs up. As a British OT I do not think it was feasible to have had a Constitution based on the U.S. model where the President is elected directly by all the people. Even if it was feasible it does not necessarily work so well as you have an executive with no legislative power to get their policies into law.
Doesn't the British elect their Prime Minister separate from all other politicians?
CNS: No. The British PM is the leader of the party with a majority in the House of Commons.
There is nothing wrong with this as long as it done correctly.
1) First check with Lands and Survey to see what else they own.
If only the mortgaged property, eligable supject to further checks
2) You have been approved!
Lands & Survey place a Lein on the property
For those that don't know what a lein is
Basically a lien is a legal instrument giving a person, business, etc. the legal right to take, hold or sell another person's property for debt or restitution of some sort. A lien is a formal notice of rights to property being pledged for a debt should the debt not be repaid as agreed
."Liens can be consensual or non-consensual. Consensual liens are imposed by a contract between the creditor and the debtor. These liens include:
Hear, hear! I'm all for helping people in need, but I worked very-very HARD to pay off MY home mortgage before going on family vacations, gettng a new car, sending my kids to an expensive school, etc….so a LIEN MUSt be placed on these properties so THAT WE THE PEOPLE get paid back. When these houses are sold or before title can be transfered (even for love and affection- I KNOW the system), we want our share back!!!
The LAST thing I want to see it a perosn getting help from this Govt and then turning around and getting a new car or "giving" their now-paid-off homes to children or grandchildren under the love and affectionLands & Survey rules.
NO FREE RIDES! I'm Caymanian and I woked hard to buy my home and pay it off and don't think others should get a free ride for their loyalty and votes, period.
Yes, help people in need, as a temporary measure, but insure the piper WILL eventually get paid.
Lien on cars, other land, and if need be: a payment plan if these recipients are employed, noting LESS.
There are some people who are losing their homes who have never gone on a vacation and only drive a little economical car.
Not everyone who is in trouble is living above their means and help from this program would be much appreciated.
I for one need some assistance and would take it from anyone of you bloggers if you are willing to help rather than just sit and criticize.
I am of the opinion that most the posters here are not living in the true reality of facing a looming foreclosure that they wish to God they could prevent.
As long as the bank holds the Mortgage a third party would only be able to place a caution, that is, without seeking approval from the bank.
In order to hold a second charge Gov would have to get permission from the holder of the mortgage, the bank.
In any event, the second charge is subordinate to the first charge and should the bank be forced to sell the home, its debts would have to be repaid first. In some instances the proceeds from the sale barely covers what's owing to the bank.
Some people getting the mortgage assistance won't be in any kind of financial position to repay these funds and that will have to be determined on a case by case basis.
However, in every instance, a Caution should be placed over their property in case one of these days they wish to sell it. They would have to dishcharge the Gov debt prior to the Caution being allowed to be lifted.
Money is the root of all of Mckeeva's evil. All of his problems stem from money, using money as a polictical call will be damming this time around, he's almost hung himself!
The Premier is following his heart and trying to help people who are on the verge of being homeless. Not because they are all irresponsible, but because unforseen circumstances have put them in a position where their mortage payments fell behind and they can no longer catch up.
Even though the may be paying now, they just can't get either the interest or the arrears updated, resulting in foreclosure.
Unless you have found yourself in eminent danger of losing your house you don't have a clue what it means for me and my family to get assistance through this program.
I am willing it to pay it back. God willing I will be able to one day as I am an honorable woman who truly needs help right now to save the roof over my head.
Until you have walked a week in my shoes of worrying where me and my children would live if I lose my home, then, your comments are simply venomous and bad minded.
Yeah….trying to help people with OUR money! There is ONLY one person being helped and that is Big Mac.
almost my friend. the man lives on the very edge of 'almost' . he's quite comfortable there.
Right now he's trying to pull himself back up the rope… ain't gonna work. Bye bye Mac.
I think he's actually hung himself. Praise be to God.
Ok, at some point in time we all need a helping hand. But seriously how could Mac even consider paying people's mortgages? Now if Mr. Dart would like to step up and do it soley that should be more than welcomed. But the government has no right to even consider such actions. There are many of us who fall on hard times but there has to be a line when government assistance is considered. I mean really what would be the cut off? And who in the H*ll would qualify! Personally speaking I am having a hard time purchasing a home. Do I qualify for some government assistance? Cause I could sure use it! Who's in more need, the person trying to buy or the person trying to keep their property?
At this time I would say the person who is about to lose his home should get the assistance over the one who has no home.
It would presume that by now you are accustomed to your situation of not owning a home and obviously already have a roof over your head , perhaps renting an apartment.
People in danger of losing their home would not have anywhere to put their head. We would end up with hundreds of homeless people. Is that what your conscience would allow you to want to see happen? Remember, not everbody is irresponsible, so please stop being so judgmental.
I need help with my mortgage, and so help me God, if I qualify I will be singing all the way to the bank to see my loan officer. Meanwhile, all I can do is to continue paying and hope the premier will be able to help me get back on my feet before its too late.
God bless you Mr. Bush, you heart has always been in the right place.
I will bet my car that I paid for out of my savings (no loan) that Mr. Dart will deduct the 18 million out of the the transaction that he is dealing in with the govenment re West BayRoad/ Landfill property. Mr. Dart did not get his money by being stupid.!!
if offered – let's see how many of you "turn down" this offer! Irresponsible or Not! TA! Say what you want but I sure could use a bail out right about now!
I'd turn it down. Stop being a sheep.
All I wanted was a 50" plasma TV 🙁
Give me your address. Will send it right over C.O.D.
From HAND TO MOUTH !!!!
What is the criteria? How are you going to determine who will qualify for these "handouts"
I work every single day and still find it hard to make ends meet ! Cant save a DIME!
Is this irresponsible behaviour??????
Some top of the head guidelines to ensure the fairness and practicality of this program.
1) There should be a clear point based system used that allows easy transparency on the process. Cannot give help because if just feels right. Must have a pre-defined set of criteria so the public can verify the decisions were fair.
2) Those who have a good payment history should be given priority. If someone has been properly making payments for 6 years but have hit a rough patch and are now missing payments, they should get priority over someone who just bought the house and was never really able to make payments.
3) There should be maximum benefits defined. Not sure the number, but for arguements sake lets say 50,000. If the committee doesn't find a realistic chance that after the maximum amount of help, the home owner still won't be able to make further payments then they should be disqualified from the program. No sense just delaying the inevitable.
4) If they cannot make payments because of unemployment, they must be able to prove they are out actively searching for employment.
5) I don't want to add to someones woes by having all who recieve help be publicly named, but at the same time it is the best way to avoid fraud/corruption. So that certainly needs to at least be considered.
Tribal warfare is not a pretty sight…
'i humbly declare that there are 2 rules in these islands,' says the Mighty Mac:
number 1: I'M ALWAYS RIGHT !
number 2: EVEN IF I'M WRONG, I'M STILL RIGHT !
“As a government we want to ensure a structure with accountability, transparency and efficiency.
You know something, there may be the chance that he actually, in his mind, is not doing anything wrong. if that is true there is a lot more of this crap to come. A lot more.
Mr. Alden McLaughlin, as the Leader of the Opposition, the country needs to hear from you. Speak up now or remain quiet for the next election.
It would make more sense if the above board Premier negotiated with the commercial banks to lower their rates and extend the mortgages, thereby allowing their clients to make lower payments over a longer time and they would still have their homes. What he is incouraging is a free for all, for some of those who will always jump on the free Bus.
What has to always be in front of our faces, is the fact, 'that there is no free lunch', someone has paid for it or someone is paying for it. I prefer to adjust my expectations downwards and persevere to the end.
Anonymous 13:05, I agree…..it would make more sense to try to get the banks to extend the loans with lower payments. Your entire comment makes a LOT of sense! Anyone who thinks they're getting something for nothing is a fool. Personally, I would think a contractor making a "donation" to an entity giving them a contract might be condidered by some as "payola".
13.57 As far as I can see, the banks "are getting something for nothing". They pay 0% on our cash deposits, and lend it out at 4-5%, which is an infinite profit margin. Nice! I like!
Thank God I have an exceptionally caring account manager at RBC who is trying everything within her power to help me save my house. In fact she, is not an account manager but I beleive is the collection manager.
Ms. Grant is so genuine and compassionate, that despite the desperate situation I find myself in I am still grateful for all the help she and RBC is gving me and my husband.
I am sure that she has helped and is helping many more. God bless you Ms. Grant. You have a difficult job to do, but you do it with such graciousness and empathy.
17.40, I think that Ms. Grant should be chosen by the Premier to chair this committee that is going to be set up to process these persons who are applying for government mortgage assistance.
She has some 20 years banking experience with a prominent bank, in fact she was once my loan officer at one stage, and I don't see her going outside the guidelines that would be established by the administration.
I have personally come up against her and found her to be a no-nonsence kind of person, a fighter, who can be extremely firm and outspoken at times, but ALWAYS, ALWAYS, fair!
Although she probably already has her hands full and does not have the time to sit on any more committes, as I beleive that she is still a member of the immigration department .
Would be a shame if she were not to be on board with this one.
Mac might think of himself as a Caymanian "Robin Hood".
It might explain a lot.
Never mind the mortgage payments, who gets the finder's fee?
Definition of "most needy ones"? UDP supporters only need apply.
Why not use this money to help people get on the property ladder so they aren’t throwing away their money in rent?
Confucious or somebody else say:
Give a man fish and he has food for a day.
Teach a man to fish and he can fish the next day.
Pay a man's mortgage this month.
And that teachs him to be irresponsible and dependent.
Then we can pay his mortgage again next month.
What is the difference between giving it to the lending institution as opposed to the individual who owns the house where the mortgage is about to be paid off??
Let me guess, the committee members will be from CIDB, CNB, and FCIB?
On the application:
Ques 1 – Will you vote for me in 2013? Yes/No
Ques 2 – If no, who you tink you is? Go back to Ques 1.
“As a government we want to ensure a structure with accountability, transparency and efficiency while getting assistance to those who need it most,” he said.
Hahahahahahahhaha – Oh Lord. I think I am gonna have a stroke from laughing so hard. Phew!
McKeeva, UDP Govt and accountability, transparency and efficiency in the same sentence? I think not. Oh goodness. LMFAO.
By the way – in case anyoneis in any doubt – "those who need it most" will be UDP supporters.
Guaranteed. Watch and see.
I can already see them elbowing to the trough. oink oink.
This is the same man who said he was going to turn the economy around when he was elected. This was the same man who also gave a time period of 90 days for turning the economy around sometime last year if I remember correctly. Two years into his administration, he hasn't fulfilled that promise at all. Just like Elio criticising Alden about the job situation and if anything, it is worse now than then. I have never seen more flip flopping and pancaking in all my life than I have seen in the last two years. It's disgraceful. And the way they use that word TRANSPARENCY has caused me to look it up in the dictionary again to see if the meaning had changed.
This government can't get the economy turned around because of all the stumbling blocks ie: people like you crying down everything they try to do. This government needs to start closing their ears to all of your criticism and start thinking of the people out there in dire need. Mr. Premier get on with what you promised and ignore those who are out there campaigning (yes they are placing these obstacles in your way to keep you from getting anything done) and they can then get up on their platform and blast you for not getting anything done. For those of you out there criticizing the Premier for trying to help those people who are losing their homes, I understand. You either don't have a mortgage or you have a well paid job and don't know what it feels like to be threatened with the loss of your home. I fully support his effort and I am not sure of the process but Mr. Premier if you are reading this, may I offer a suggestion? Wouldn't it be better to have the people whose homes are being foreclosed apply, and then the committee meet with the institutions to determine that this is not a trend. If this default happened after the loss of a job or loss of income due to the economic crisis, then I think these are the people who should be helped. Please ensure that these people are then able to maintain their payments. One way of doing this is to ensure that Caymanians (yes status holder Caymanians or born Caymanians) get first preference to the jobs out there (and yes I know, if they are qualified). Instead of injecting the money into the mortgage, maybe they they could have the institution work with customer by refinancing or allow them to pay an affordable amount towards the arrears to bring it down. I am sure that if the government placed the funds with the institution and a lien was placed on it for the amount in arrears until it was paid off the bank would have to problem working with them. This way the funds would then be available for government to help out again should some other situation arrise. Any other way would be like placing water in a barrel full of holes. Now for the private sector out there, you all too can help in this situation. If Caymanians apply for a job that a permit is held for and the background check is good but they don't have enough experience, give them a chance. I am sure they would gladly accept a lower pay to be trained, if they knew in the end that once they gain the experience they would be compensated. You all should realize that this economic crisis will have a trickle-down effect on your business. I don't only mean from loss of business because people can't spend but also due to increase in crime. Crime also increases when people are desperate and don't know wher to turn to pay their bills and feed their families. I really don't want to hear "that is no excuse" because we are not all alike, so we don't think alike. I know what it is like to be unemployed, with a child to feed, a mortgage and utilities to pay. I would never dream of turning to crime, but like I said we are not all the same. I sacrificed my retirement pension to meet my obligations knowing in the end my retirement would have to be farther down the road. It was a sacrifice I made, but not everyone maybe fortunate enough to have something to fall back on, so please I am emploring you, play a part in helping the people of these islands. Remember what hurts us today will destroy you tomorrow.
How can it not be your fault if you default on a loan commitment?
Sounds like you havent been laid off yet,Be careful how you speak.Your day might come sooner than you expect.Just sayin!
What a callous, ignorant question. Anyone can have reversal of fortune my friend. One reason might be if you are made redundant and cannot find a new job that will allow you to make your mortgage payments.
18.22 you are correct. So many of the problems with default mortgages these days stem from the fact that people have lost their jobs or have had a salary reduction. Hope you and many more are able to get back on track.
People – don't be afraid to seek assistance from the program if you need help. God bless.
Be very careful what you say it may happen to you and that is usually the case long run. Believe or not
This will just cost money and postpone the inevitable forclosure in the future. This was seen in the US and will repeat here.
All this will dois give mr. bush a chance to buy some more votes.
Buying votes much Mac??
Nada cambia!
@Jungle Juice
Note this is a sign of DESPERATION by MacDart for 2013.
Thought we weren't allowed to borrow any more monies.
How is the loan going to get paid back. We can't afford to borrow monies, we owe too much.
XXXX
Dart wants to own the Island and Mac is stupid enough to let him. If his party members are not intellegent enough to have him step down when he is being investigated than what is going to happen as the entire world sees thatthe head of government is under investigation and is putting our country in more debt. It appears that all of the UDP should be investigated.
This is becoming known throughout the world and it will be the end of our financial business as well as tourism.
No Mac, its you who is out of touch with the harsh reality of the real world and the fact that many people here are living way beyond their means. Elsewhere in the world having your house repossessed because you cannot afford to keep up the payments is normal. You don't get spoonfed with government or private assistance to save your home because your governments money is being spent on education, healthcare and the like. That is the harsh reality of having a mortgage or loan and owning a home. And how may I ask are you going to assess who are "the most needy ones", please do tell. This, and many of your other proposals are simply atrocious and unethical.
Irresponsible people is defined as PPM members and their supporters who got us in this economic mess. Read my lips no morgage money for U,there is hope however if you run now and renounce your membership to other parties or profess your loyalty to the UDP & Dart you maybe considered it however must be done in the presence of a serving member of the UDP.
Hilarious! You were joking, weren't you?
Such a JOKE!! When will the people living on these islands get a say or vote on which projects are worthy of these funds? This is a "ForCayman" NOT "For Who I Feel Like Giving Money To" alliance!!
'$18 million cash donation that Dart has agreed to give the Government' – for a capitalist like Dart, that amount should not be considered a donation, he's buying the government along with its islands, through Mac's lengthy rhetoric. cayman is not for sale, it had already been SOLD.
Unless it is limited to those who have an excellent prospect of maintaining the payment covenant in the future this plan is a complete waste of money. All it will do is pay of some interest before another default in the near future.
Indeed, the global recession has really affected alot of people. And that includes those who were affected by hurricanes and the improper management of our finances. Our financial records have not been audited. So today, we really don't know how bad the financial situation is in the Cayman Islands. All I can say is that alot of good people are without jobs. I think it would be heartless to say that these people who are on the brink of losing their homes, are "irresponsible." On the other hand, the earmarked funds topay off these lenders, may set a precedent that could become costly as other people may come to the brink as well.
If these people are so badly in arrears with their mortgages, obviously, I don't care how much the premier give them, they will not survive. They need to down size their life style. Sell the house and build a more ecomonical one. Why struggle with what you can't afford??????
This would only help the district of West Bay. The Premier needs to realize that the whole country is hurting. The majority of these bad loans are due to irresponsibility on the part of the borrower. Every body living up to the Jone's. Over extending themselves just like how this government is dong. What he is doing is nonsense, he will find the country doing this again for the same people this time next year. Stop the Spending!!!!!. It is not right for one to take from one already hurting and give to another who carelessly planned their future on other people's expense, and expect that whenyou get in trouble the people must bail you out. Every body is hurting. YOU THINK THOSE THAT ARE PAYING THEIR MORTGAGE NOT FEELING THE BLUNT OF THE RECESSION and has to sacrifice everything??? – THOSE THAT GOT BAD MORTGAGES NEED TO FIND A WAY TO GET THEIR PRIORITIES IN OR . I have never heard this before.
.
Whilst I believe that Mack means well this will not work. Alot of the people in arrears are irresponsible and its usually those kind of people who gets the assistance. You have some people who dont eat properly and wear very skimpy and they even go to work under bad health situations but the try to pay their loans. Mr bush in my opinion this will go like the Paloma funds, those that try to help themselves did not get any assistance. Usually this is the way that it goes. I know of a lady out of Town who is very disabled and has a balance of $60,000 TO PAY TO THE bANK. Her payments go in late however she do whatever she can from her home alittle cooking etc but she tries to pay her loan even though its late payments. They are the kind of people who should qualify. However if the wrong people is handling it it can become very Political and then you will get blamed for it. My suggestion is that there should be at least three people dealing with this, a UDP A PPM AN INDEPENDENT. tRUST ME THIS IS THE ONLY WAY THAT IT WOULD NOT BE A REPEAT OF THE PALOMA HAND OUTS.
I agree! I scraped and saved, had tro skip overseas vacations with my family, took a second job, ALL to pay off my mortgage before I turned 50. I did this and now with hard economic times, both my spouse and I (white collar Caymanians) find ourselves unemployed and seeking good jobs. We cannot afford hurricane insurance for our home and hurricane season worries me, my a/c is on only at night, we don't eat out anymore, I have sold most of my extra assets, but I DO NOT have my hand out! Come on Cayman Pride, do NOT fall for being a slave to politicians, they will never be satisfied. We are better than this.
Do I wish i would have taken that job offered to me in Government ten years ago? Yes. Am I sorry that I tried to make it in the private sector? No. I know that my hard work and efforts will pay off and I'm happy that I am not beholden to Big Mac.