more difficult to focus on any single issue when there is such a blizzard of fiduciary nonsense and unethical practices assaulting us daily.
So…what particular issue prompted this letter when such far better writers as Ed Propst, Anthony Pellegrino, and Tina Sablan have touched on the major underlying topics? A recent independent audit by Deloitte and Touche reveals a whopping government spending deficit of $218 million, with $30 million credited to the current administration’s budget (or lack of one) during the last fiscal year. It’s glaringly obvious that the government “cutbacks” appear to be nothing more than window dressing. Now, to make matters even more bizarre and incomprehensible, the governor has plans to borrow an unknown amount of money from a bank in Rhode Island; this is on the fast-track with the government set to roll out the red carpet and put fresh ink to the loan papers during the bank’s earliest visit to the CNMI.
Why does this make me shiver with fear? First, the loan papers were scheduled to be signed BEFORE the government obtained any input from its citizens. This “fait accompli” by an administration with an abysmal fiduciary record wreaks of “shady deal,” shoved down the collective gullet of the CNMI population, without so much as a whisper of citizen input. Perhaps this is representative of why Capital Hill is so ardently opposed to such a basic democratic principle as “open government”; it allows them to dys-function in secret, while passing laws, bills, and deficit-increasing loans which are spurious at best and — more likely — harmful to the people of the CNMI. (Thank you Tina for working unceasingly against this irresponsible and unethical practice). Ooops…I’ve digressed from my topic of focus.
Returning to the governor’s loan: in a feeble, last-ditch attempt to bail himself out of his own disastrous economic mismanagement, he is simply borrowing more money. Thanks to local radio talk host Harry Blalock, we now are painfully aware of CUC’s fate to become another victim of bankruptcy. Likely, CUC is merely first in line of a number of government-run entities that will soon follow suit (For example…CPA).
Now comes the question: What can the governor use for collateral when the government is wholly mismanaged, very deeply in debt, and facing a serious crisis of bankruptcy: His house? Tan Holdings? Mining rights to Pagan? Fruit flies? Well…what does Rhode Island want? For years the “most little state in the union” wants to unshackle itself from that moniker and become bigger. And what can the CNMI offer for its collateral? LAND. Yep…good ol’ CNMI land.
The government’s effort to bail out the CNMI, AND to keep the feds at bay, is to use the CNMI as collateral, default on the loan (as we know it must) and become a ward of Rhode Island, thus making CNMI the CNRI (Commonwealth of Northern Rhode Island) .
Rhode Island will then infuse capital into the CNRI, manage it as a business and Ben gets to blow raspberries at the feds while getting bailed out by the state of Rhode Island. A win-win situation.
Hmmmm…maybe I’m getting too cynical about the workings of this government. On the other hand, maybe the government has given us all reason to be very wary of any of its deals (CUC being a timely example).
Governor Fitial: if you want to bail out the CNMI, don’t go all the way to Rhode Island to hide while making secret deals for loans. I have a better idea: keep the money in the CNMI by obtaining a loan from the people who have most benefited from the CNMI’s policies and with whom you are very close enough to request a “personal loan”: none other than the Tan family. You would then be a real winner in the eyes of the citizens…even Ed Propst might respect you. Now this would be a true win-win solution.
Oh…one other thought: The feds are here. Don’t bite the hand that feeds you. Common sense dictates that we should work in cooperation with the feds, not wage war with them. Why do the vast majority of the people see this yet our leaders are blind to this concept?
BILL WEISS
Puerto Rico, Saipan
