Garth Rattray | Taxpayers suffering financial misdeeds too

The numerous and chronic fraudulent activities (thefts) at Stocks and Securities Limited (SSL) have affected Jamaica in several ways. Some were directly impacted, while others (including the diaspora who support relatives and/or invest here) were indirectly impacted.

Jamaicans here and abroad were scared and appalled to learn that people entrusted with investing other people’s money could be so morally deficient as to steal from the clients who had put so much faith in them. Consequently, the thefts caused a loss of confidence in investment and banking institutions. Evidently, our hard-earned savings are never safe from greedy predators intent on living above their means.

Nebulous information is slowly emerging, and the amount of money stolen is prodigious. However, the situation reminds me of catastrophic events wherein many people are killed all at once. Naturally, such tragedies attract attention, concern and sympathy for the victims and their families, but we all tend to overlook the fact that other mini tragedies are occurring, too.

A good example is the horrible mass murder on September 11, 2001, in the United States of America (USA). Suicide bombers killed 2,977 people at the site of the World Trade Center and the surrounding area. That was extremely sad, but, during that era, in any given year, 2,416,425 deaths were occurring in the USA. That is an average of 6,620 people dying within the USA from various causes every day.

The silent majority of Jamaicans are concerned that the lost, unaccounted for, and (likely) irretrievable phenomenal sums stolen at SSL pales in comparison to the countless billions of taxpayers’ dollars appropriated by trusted public servants, diverted by corruption, and (allegedly) divided up among conspirators when huge sums are spent on some projects. Every time these things happen, the circumstances are tantamount to every citizen being robbed by the people that they trust to protect them and our country’s interest.

RARELY DETECTED

These losses are rarely detected, quantified, or publicised, and they occur over a very long period. Their impact is not appreciated as much as an SSL debacle. Another way of putting it is, it’s like throwing an unfortunate crab into a pot of boiling water. The shock and horror are obvious and painful. But place that same crab into a container, and very slowly heat the water, the doomed animal fails to appreciate the creeping catastrophe that surrounds it.

There is absolutely nothing wrong with giving motorists a break if they run afoul of the traffic laws. A warning can serve the purpose of allowing them to focus on the wrong committed, but a ticket runs the risk of motorists focusing on the fine, and the lesson of the misdeed can become lost in a cloud of chagrin. However, it’s quite another thing when motorists are given a break for a price. That revenue is a lot larger than many realise, and, over time, many cumulated millions in revenue is diverted from our chronically starving government coffers.

Whenever poor workmanship takes place on government (taxpayer)-sponsored projects, you and I become hapless victims because we can do absolutely nothing about it; and we are repeatedly fleeced. The road project in Broadgate, on the Junction corridor, has been a major loss of revenue for taxpayers. Those wasted billions could have improved communities and funded education and healthcare. The project began with a publicity campaign, where ‘experts’ took to mainstream media and explained the technical plans to, once and for all, solve the perennial problem with the roadway in that area.

ROADWAY COLLAPSE

Hillside ‘bench terracing’ (to help prevent land slippage) and roadway plans were shown to everyone. However, when photos of the first major roadway collapse were posted, some depicted a crust of asphalt, resting on fine gravel substrate, and no deeper and larger boulders to allow for percolation of underground water expected in that environment. And, I am still looking for proper terracing. If a contractor hired by ‘the government’ (civil servants acting on the taxpayers’ behalf) is experiencing issues, we expect the National Works Agency (NWA) to be there, step by step, with the contractor throughout the entire project. It should look out for the taxpayers’ interest, safety, and assure that our billions of dollars are properly and frugally spent.

Several years ago, when I complained about the repeated errors, multiple expensive do-overs, and questioned the drain covers on the Hagley Park Road project, the NWA publicly labelled me (a very concerned citizen who sought answers) “ignorant”. But some drain covers and surrounding roadway were eventually quietly modified, roadways that sank after a few showers were raised, and lower Hagley Park Road still floods when there’s a downpour. Years after the completion of the Marcus Garvey Drive project, you dare not approach it when it rains, unless you own an amphibious vehicle. Where is their accountability to the taxpayers when projects badly overrun costs and/or experience costly failures?

There continues to be mumblings that some contracts could cost taxpayers a lot less if there were no (euphemistic) ‘finder’s fee’ involved. If the mumblings are correct, incalculable billions have been stolen from us. It would be great if the powers that be came out and dispelled the concerns regarding some government-awarded contracts. Assure us that all contracts can stand the most stringent scrutiny imaginable.

The citizens of Jamaica are perennial victims of phenomenal levels of fraud, corruption, wasted, lost and stolen funds. Our plight deserves SSL-like investigations, exposure and attention.

Garth A. Rattray is a medical doctor with a family practice. Send feedback to columns@gleanerjm.com and garthrattray@gmail.com.