FNM Out of Time & Money

With the general elections just a matter of weeks away, it appears more so now than ever before, that the Ingraham FNM government is a bit on edge and in great fear of losing the 2012 general elections because most of the expected funds appears to have been cut off because pressure and poor public perception of the Ingraham administration.  This includes the dismal performances of Environment Minister Earl Deveaux, National Security Minister Tommy Turnquest and Minister of Foreign Affairs Brent Symonette.  Their lack of transparency has been obvious to the public and has proven to be too much of an overbearing challenge for Prime Minister Ingraham going into this general election.  The pressure for Ingraham is so great that he had to cut Ministers Deveaux and Symonette from his team because of the perception that both men, according to public perception, have dirty image.   

Such perception of the FNM Cabinet Ministers, especially for Earl Deveaux, began when the permission was granted for mega-billionaire Louis Bacon to dredge for his marina in Lyford Cay even though he had already dredged into the coast without permission. The leader of Government Business in the Senate Dion Foukes admitted to this error from the floor of the Senate. Rumors are that he is one of the mega-rich investors that threw large hands into the election donation pot for the FNM.  Bacon has openly made generous donations to the Republicans in the US and the Torries party in the UK - countries where campaign finance disclosure is mandatory. 

Minister Deveaux committed the same public offense by granting a second permit for the dredging of a marina after an investor failed to adhere to the environmental laws of the Bahamas.  Environmentalists cried out when they saw the pristine Bell Island in the national park, a protected zone, being excavated to make way for a 200 foot mega yacht that the Aga Khan wanted to have at Bell Island.  It was not until there were open protests that a press release was issued from Deveaux’s Ministry to say that the Aga Khan was given permission to dredge for the yacht.  At that time a significant portion of the hill at the island located in the national park had already been cut down to prepare for excavation of the sea bed.  Many critics questioned the timing of a million dollar donation made by the Aga Khan to the National Trust, and its inability to join the protest against the dredging of Bell Island with other environmentalists even though it is perceived as a body mandated to safeguard the Bahamian environment. 

This all came to a head about a year ago when popular talk show host Steve Mckinney began an expose while on the Gems 105.9FM radio station owned by then Debbie Bartlette and Cyprianna Mcweeney.  Because of the skillful manner in which Mckinney linked the Bell Island, Lyford Cay Point House, and the Kamalame Cay, Andros incidents together along with that of the alleged rock mining by the Brent Symonette family, the public picked up on the trend of shady and questionable behavior by some members of the Cabinet.   People also paid attention to veteran publisher Pierre Dupuch who openly declared that certain government ministers were involved in the sale of billions of dollars worth of fill from the precious Bahamian limestone rock to companies such as pharmaceutical manufacturers. 

As the public began putting these clues together, and more and more listeners tuned in to hear what else Mr. McKinney uncovered, it is alleged that Ministers Earl Deveaux,Tommy Turnquest and Brent Symonette pressured Debbie Bartlett to stop Mckinney’s show "Hard Copy" from airing.  This happened at a time when the radio station was in a financial crises where it owed  staff and was months behind on payroll and other bills.  A large payout may have solved the woes of Gems radio station as it axed its most popular host.  

Imagine, then, just how much the principals of the rich,famous and special interest groups must be paying the FNM government to ensure that they stay in power, and continue to support their ulterior motives for money and power.  

The tarnished FNM MPs are very scared that if they do not help their major financiers like Bacon in overcoming his questionable dealings in the Bahamas and his buck-ups with the law, that the FNM could loose his financial support and the support of other mega-rich investors, and face possible defeat at the pools.

The major factors the FNM government must help Bacon on is overcoming his legal challenges here in the Bahamas especially against his neighbor Peter Nygard.  For the past several years, the staff at Nygard Cay has reported to the police many illegal actions taken by Louis Bacon and his staff including trespassing on Nygard Cay and setting up illegal bugs on the property and in Nygard’s vehicles.  Bacon’s home became the center of a raid because of his use of illegal Ultra-Sonic speakers on Nygard and his guests.  The weapons were seized and Bacons lawyer Mr. Pericles Mailis admitted to national media that his client did indeed use the speaker weapons on Nygard, his staff and visitors.  Such actions the police have yet to completely investigate and give a full report on.   

Bacon is afraid that if the FNM loses the government, he would not be able to complete the objective of steaaling Nygard’s land; a case which is presently before the courts.  According to what is being reported in the Bahamian media, there is a good possibility that Bacon will lose his legal battle with Nygard because Nygard’s legal team has a very good case against Bacon.

It is being said that Louis Bacon is so afraid of losing his legal battle against Nygard that he is now calling on the Ingraham government to utilize the Attorney General’s office and that of the Chief Justice and other senior magistrates to put a rush on his court case and rule in his favor against Nygard.  It is also believed to have been said that if Bacon does not win his legal battles against Nygard, that he will cut off the FNM government and promise never to return to the Bahamas.  This, despite the fact that Bacon has already fled the Bahamas and put his Point House home in Lyford Cay up for sale.    

Then there is also the Canadian Broadcasting Corporation case where they aired a negative expose on Nygard in an effort to discredit him despite his philanthropic efforts in Canada and the Bahamas. Bacon’s cohorts Allan and Michelle Mays who are both now fugitives on the run in the Eastern Caribbean countries are all mentioned with Louis Bacon in court dockets in Canada allegedly conspiring together to use the facility of the media to bring down the Canadian fashion mogul Peter Nygard.

And again just recently the billionaire hedge fund manager Bacon had found himself in yet another questionable situation, this time with possible legal repercussions. His name was called in a major fraud action filed in the United States District court, in the southern district of New York. As chief of Moore Capital Management, he faces accusations of violating antitrust and racketing laws.

All of of these legal battles and major fraud investigations in the Bahamas and the United States has the hedge fund king on the run and such actions have put the FNM party in a financial bind in that such a great financial backer for their elections in the past could be in great jeopardy.  It seems Prime Minister Ingraham, Minister Deveaux,Tommy Turnquest and entire government cannot fix a bad situation that has now run its course over the period of years in the Bahamas where just maybe, justice will be served on both Louis Bacon and his friends in the FNM government in the 2012 general elections.