“No Loans For Delinquent Borrowers” – CBL Gov. Weeks”

0

The Editor,

What do you think happens when the government make unsecured loans to market women? If you say 97 percent of them will default on their “loans”, go the head of the class!  You’re a genius! (Re “No Loans For Delinquent Borrowers” – CBL Gov. Weeks”) 

Making loans to people who are unable to make a substantial down payment (or put up collateral) makes them a bad risk. That’s banking 101. 

But do you think the former CBL Governor (Jones) cared whether those market women were good risk or bad risk?  Please.

The money he was putting at risk (“lending” out) wasn’t his money. It’s was other people’s (taxpayers) money, so he spent it like a drunken sailor!

Didn’t you see all those market women singing and dancing in the streets when the former CBL Governor (J. Milk Jones) came to their villages, and was dropping money from his helicopter??! 

♪Da free government money ooooh!♫ Da free government money oooh! ♫Da free government money oooh!♫ Papa na come♫

But we all know that there’s no free lunch. When the bill (loan) come due, somebody has to pay it one way or another.

Now that most of these loans are in default, who do think is on the hook to pay it back?  

The taxpayer or the former CBL Governor (Jake Milk Jones)?

By the way, when the former CBL Governor (Jones) discovered that his true calling was in politics, he started using the micro-finance loans to fund his presidential campaign! His campaign slogan: You want to live like the Joneses, vote for Mills Jones!

Back to the CBL’s micro-finance loans: 

Even though the taxpayer is on the hook for these Loans, I think the former governor (Jones) should be arrested and tried for defrauding the Liberian taxpayers. 

Where’s the Minister of Justice when you need him?

 

Martin Scott,
Atlanta, Georgia
[email protected] 

Comments
Loading...