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The New BOJ Governor's Pay package

12/13/09

Permalink 01:31:39 pm, by Skillachi
Categories: Business

The New BOJ Governor's Pay package

I had a completely different topic to write on today you know. I was gonna write on the IMF and how they screwed Jamaica over before and yet we still turn to them again. But no our government just had to put in place another clear policy of favouritism the likes of which has never been so blatant as far as I've ever seen. Dont know what I'm talking about? Then I invite you to read this article in the Sunday Herald which gives a nice expose on the new Bank of Jamaica's Governor and his pay package. As I've pointed out in 3 different articles here namely: 'Mass Resignations', 'Transparency in the Government', and 'Latibeaudare speaks', the main reason for the firing of Derick Latibeaudiere as given by the government has been his $38 million dollar pay package. However this is where things get kinda fishy when we look at the new pay package for Mr. Bryan Wynter, the new governor of the Bank of Jamaica.

Now before I even speak on exactly who Mr. Wynter is lets look at his pay package. Note well, he is only the Part Time Governor of the BOJ:

Full time basic salary: $14.5 Million dollars per year (same as the previous Governor)
Travelling (per week to and from Barbados where his family lives): $76,000 per week
Hotel expenses: $205,000 per day ($1.06 million per week).

**All of these expenses are paid for by the government.

Are you laughing at this yet? Because I am. I cant stop laughing actually because more and more we see just how STUPID these people who we have put to run the country are. Yes I said stupid and I'm not afraid to use that word because this move deserves a word no less. Other adjectives I'm willing to put in place are: Idiotic, Daft, Dunce, Foolish, Senseless, Thick headed, Unintelligent.... *exhale*. Ok I'm composed again.

I wont even bother calculating the fact that this man is going to be paid more than the previous governor of the BOJ and does not have the experience that we stand to gain from Mr. Latibeaudiere.

Oh right before I finish as promimsed I should include who Mr. Wynter is. Bryan Wynter is the son of the late JLP senator Hector Wynter, and he also used to work at the BOJ and was in Charge of Capital Markets, but left his post without a good reason. The article goes on to say:

Those responsibilities were given to Colin Bullock who was later seconded as financial secretary.  Bullock subsequently became the first casualty after Minister Shaw took over the finance ministry, a move which critics say was aimed at removing prominent members of former finance minister Dr Omar Davies’ team.

Wynter became the first executive director of the Financial Services Commission (FSC), which was established in 2002 to supervise the non-deposit taking financial institutions.

During his tenure at the FSC he waged an unrelenting battle against the country’s informal investment schemes before resigning just before the 2007 General Election to take up a position in Barbados.

Sounds pretty fishy doesn't it. Yea I know. Unfortunately for the government, I have an education and can read and put facts together quite easily. I'm sure most of you reading this article have that ability as well. So tell me what do you really think is up here?

Lets not forget that they also still have to pay Mr. Latibeaudiere's expenses as well.

*Grumble Grumble* *Hiss teeth* *Sigh*

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Bruk Pocket Jamaican

"Recently, this Jamaican won the 10 million special lottery for a dollar. As soon as the office of the Lottery Corporation was open on the following day, he was there to collect his winnings.

Graciously, he presented his winning ticket to the clerk and in his best English uttered his request "Me cum fi collect the 10 millian dallars, si me ticket ya".

After reviewing and checking the ticket with his manager, the clerk returned and requested on how he would like his payments. The Jamaican replied "Mi wan all a de moni now". "Unfortunately, Sir" the nervous clerk responded, "The procedures are that we can only give you one million now and the balance equally over the next 20 years".

Furious and agitated, the Jamaican asked for the manager, who re-iterated "Sir, my assistant is correct, it is the regulation of the corporation that we initially pay you one million dollars now with the balance paid to you equally over the next 20 years".

Outraged, the Jamaican slammed his hand on the desk and shouted in anger, "Oonu tek me fi idiat, me wan all a de moni now or oonu gi me bak me rass dallar!!"

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