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Bank of Jamaica Governor Derick Latibeaudiere Over Paid


Permalink 11:43:26 pm, by Melba
Categories: Business, Commentary

Bank of Jamaica Governor Derick Latibeaudiere Over Paid

The Prime Minister Bruce Golding yesterday announced in Parilament that the Bank of Jamaica Governor, Derick Latibeaudiere had to go as he was being paid too much money. Now when I think that I’m helping to pay his salary it doesn’t seem fair to me however if I were getting that kind of money I would take it too. But that’s not my ‘beef’ with this whole issue. I just can’t believe that this is the same government who only recently sought to defend paying one man, Aubyn Hill who is on contract with the government, $1.883 million per month, or close to $2 million, when expenses are taken into account, approximately $24 million a year.

According to the government then, they were comfortable with paying Mr. Hill that exorbitant amount as they saw it as value for money. Based on the prime ministers speech in parliament yesterday the decision to remove the governor had nothing to do with policy issues or his ability. That tells me that he believes there is some value to Mr. Latibeaudiere contribution. However in the Prime Minister’s own words he found the interpretation and application of certain provisions of the governor's contract of employment ‘unacceptable, embarrassing and repugnant’.

Mr. Latibeaudiere's basic salary started in 2007 at $11.2 millions. At October 30, 2009, it stood at $14.5 million. Rent and maintenance paid in 2008, was $2.5 million for rent and $5.9 million for maintenance, a total of $22.9 million in 2008. In addition, he had a fully maintained car, entertainment expenses and medical and life insurance coverage.
The part that I do not understand is how the prime minister said that Mr. Latibeaudiere's compensation would have amounted to $38.3 million this year had Government granted him increases in housing allowance which he claims.

Them sey ‘Puss an dawg no hav di same luck’. Not sure what school Mr. Latibeaudiere went to but clearly it couldn’t have been Harvard University like some people. Maybe then he would be worth his salary. Not that I think either men is worth that kind of my money, not in a poor country with an ailing economy like ours. The point is the hypocrisy displayed by the government is mind boggling and disheartening.

Nuff love

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Reasons why I love my Jamaican Mom

1. My Mother taught me about ANTICIPATION.
"Just wait till we get home."

2. My Mother taught me about RECEIVING.
"You going get a ass'n when we get home!"

3. My Mother taught me to MEET A CHALLENGE.
"What di backside yu thinkin'? Answer me when me talk to you...Don't talk back to me!"

4. My Mother taught me CONSEQUENCES.
"If yu run cross de road an' cyar lick yu dung, a goin' kill yu wid lick."

5. My Mother taught me THE VALUE OF EDUCATION.
"If yu no go a school, yu a go tun tief or walk an' pick up bottle."

6. My Mother taught me MEDICAL SCIENCE.
"If yu tun over yu eye lid an fly pitch pan it, it a go stay so fi evva."

7. My Mother taught me to THINK AHEAD.
"Is not one time monkey goin' wan' wife"

8. My Mother taught me ESP.
"Yu tink a don't know what yu up to nuh?"

9. My Mother taught me HUMOR.
"If yu don' eat food, breeze goin' blow yu 'way."

10. My Mother taught me how to BECOME AN ADULT.
"Come an' tek yu beatin' like man."

11. My Mother taught me about SEX.
"Yu tink say yu drop from sky?"

12. My Mother taught me about GENETICS.
"Yu jus' like yu faada."

13. My Mother taught me about my ROOTS.
"Yu tink mi come from "Back A Wall?"

14. My Mother taught me about WISDOM OF AGE.
"When yu get to be as ol' as me, yu wi understan'."

15. And my all time favorite... JUSTICE.
"One day wen yu have pickney, a hope dem treat yu same way."


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