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Jan 23, 2012

P.M. says write-off process without politics

Dean Barrow

P.M. Barrow also stated that the process through which the write-off list was derived was indiscriminate of politics and social status and that his administration proceeded objectively with the settlement of S.S.B. loans under the approved fifty thousand dollar limit.

Dean Barrow

“To try to be certain as to how that name found itself unto the list that I was given on late Thursday evening weve asked the S.S.B. Board of Directors to include that in the terms of the inquiry that Pannell Kerr Forster has been contracted to undertake.  So thats part of the brief, thats part of the remit and the investigation that the accounting firm is making [and] will include an effort to determine just how it is that Mrs. Martinezs name got unto that list that I took to the House. When I negotiated with S.S.B. to write off, to buy all the loans with the principal balances of fifty thousand [dollars] or less, at that stage I knew that there were some S.S.B. staff members on that list as of that point.  There was no way I was going to discriminate against S.S.B. staff members.  There was no way I was going to discriminate against anyone on the list.  The governments commitment, the contract that we entered into was to purchase and to write off all loans with a principal balance of fifty thousand or less.  I hear some people screaming bloody murder because some of the persons on that list, who stood on the list originally and who in fact continued to make the cut that some of those persons dont deserve to have their loans written off.  Well, thats a matter of opinion.  Government took a bold policy decision to write off all loans of fifty thousand and less and that is what we did.  We did not discriminate.”

The staff members who reduced their loans will be interviewed beginning this Wednesday.

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2 Responses for “P.M. says write-off process without politics”

  1. Barack Obama says:

    It is really unfair for the tax payers. No one should get their loans written off on the backs of our hard earned dollars.

  2. CEO says:

    Rich people get all sorts of breaks in this life, most so big that the common man cannot even wrap his mind around it and there are hardly any complaint but now that the lower class is getting some assistance and most people can understand what $50 thousand dollars is there will be all this chatter.

    Life is not fair just shut up because when you get your break in life would you like those that did not to have much to say?

    I think it is a good move however I would have done it a little differently. Those that had the ability to write down their loans to qualify should not be allowed and should be charged with fraud. Those that really need the help should have to do some community service or something to help the country in exchange for the assistance with their mortgage.

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