Well, the IPOC affair may end up dropping a hefty share of $45 million confiscated from the company in the hands of the Bermuda Government.
I won’t explain the intricacies of this piece of nastiness , except to say it didn’t make Bermuda look very good and involved some unusual escapades for our business sector. Such as a senior employee of a local firm being tricked to believe that he was acting as a mole for the English secret service in leaking sensitive documents. Or allegations that the computer systems of a law firm had been hacked to monitor communications relating to IPOC.
So here’s my proposal. This unexpected money should not go into the general Bermuda Government coffers. It should go into an independently administered scholarship fund for Bermudians to pursue higher education overseas. Or to widen the Bermuda park system, including completing the park at the old Pembroke dumpsite. Or to pay for sidewalks on our narrow streets.
In other words, do something special with the money instead of allow it to be absorbed by Government’s rapidly-growing flab.
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