Mark Wignall | Mr Bolt and his SSL money

It is an easy call to label Mr Usain Bolt as Jamaica’s most beloved and admired living icon. One would have thought that those special attributes would have protected him and the substantial funds he had under management in SSL from the pirates and serpents slithering there as our financial regulators conveniently slept in their long, droning night.

Recently, he publicly expressed concern about what is going on with SSL. A reader emailed me this last week. “Bolt is a victim of the criminal activity that took place at SSL. He lost millions of US dollars. He lost more money at SSL than you and I and many others will ever see in our lifetime.”

According to him, “The outgoing Minister of Finance Dr Nigel Clarke responded poorly and in a tone-deaf fashion. He pleaded for more time, explained the investigation is very complex and that foreign experts were called in to assist the local investigators untangle the criminal events that took place and find those responsible for the devious actions that took place.”

It seems that we have heard the same things said in the past. The reader continued. “But Mr Clarke’s response was devoid of humility and decency, not quite the line item he needs to have on his resume’ at this time. Since the Stocks and Securities Ltd (SSL) saga came to light, the government has been vague and evasive.

Except for the arrest and charging of one person and a vigorous court battle over who should manage what is left of SSL (the appointment of a trustee or receiver to manage the affairs of SSL), there is silence regarding what is happening in the SSL investigation. Investors have lost a lot of money. Many have lost life savings and are now in penury. They are devastated and desperate.

“It seems that, if Mr Bolt had not expressed his concern, the government would have continued to be silent. That is wrong and inappropriate. The government should have been giving updates, for example, every three months, explaining a bit of what is going on. Even if the explanation is as simple as “the investigation is proceeding and our foreign partners are coordinating with local investigators to unravel what happened”. Or, “because of the complexity of the criminal activity that occurred we are still piecing together what happened. Or, “we are looking at other individuals but cannot name them as it would tip them off”. Or, “we are very aware of how what has happened has severely affected investors, and it is a priority for this government”.

Let us be clear on this. This debacle has also affected confidence in Jamaica’s investment markets. The silence of the government causes the investors and public to feel that either a cover-up is in the offing or there is no priority given to the matter, or the government is incompetent. All, not good. It is unacceptable that there is not more disclosure by the government. They could tell us more without compromising the investigation. They choose not to. That is arrogance and it is plainly insensitive, unfortunately a pattern for this government - being evasive, not communicating with the public, and a complete lack of transparency.

Maybe I am not placing into importance what the government believes is the people’s disinterest in this matter, even if Usain Bolt’s name is attached to it. It could be that many of our people at street level have become pragmatic and satisfied themselves that Bolt’s global fame, his well-merited, awesome wealth and his ability to claim membership in elite circles have taken him away from our warm embrace and given him a seat at a more comfortable table.

We are dancing to the beats of different drums.

Surely Dr Clarke could have acted in a way to make it appear that his feet were more on the accelerator than relaxing in neutral. What if Dr Clarke were one of those who lost money in SSL? Would he be satisfied with the way the government has handled communication with the public about the investigation? The answer is obvious.

GREATER PORTMORE, DISASTER IN WAITING

In the wake of dangerous hurricanes Helene and Milton which ravaged parts of the southern United States and specifically Florida, a few concerned persons in Jamaica have highlighted pressing dangers facing us in Jamaica and especially in Greater Portmore.

“I live in Portmore,” said a retired cop and community activist. “Portmore is flat. The 10 and 15 feet storm surge that residents in North Carolina, if they were to happen in Portmore, would basically flatten communities there. Right up to swamp, up to Spanish Town.

“With this climate change situation, we must reactivate the evacuation routes in Portmore. Where are the signs? The spots are overgrown or just plainly ignored. No one knows where people should evacuate to or how soon after a 100- or 200-year event will the sanctuary spots be activated and manned to accept people fleeing for their lives.

“It cannot be that all it will take is a minister coming on TV to tell some people which buses going where and such the like. Instead, we need a workable system in place, renovated each year. The other crucial thing affecting Portmore is something that most people hardly think of.

“Portmore sits on the mouth of the Rio Cobre. If Jamaica should receive some of the level of ‘biblical’ floods that Helene brought on the southern US; think of Bog Walk, Troja, Riversdale area. That water is going to come via Rio Cobre. Once it leaves Bog Walk, the only place left for it to go is into Spanish Town.

“And, I don’t want to scare you, but Spanish Town is going to be devastated. Plus many housing units have been built up along that thoroughfare. They’ll be exposed.

“If we have the double whammy, that is, from the sea with the storm surge and from ‘biblical’ rainfall straight down to flood out Spanish Town, Portmore will be in an awful state of total disaster. Last Thursday, I was not able to make contact with key personnel from ODPEM.”

Mark Wignall is a political and public affairs analyst. Send feedback to columns@gleanerjm.com and mawigsr@gmail.com