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Urbe et orbi

Forgive my Latin but I feel the need to cast my net wide – and chatting with the Minister of Good Governance may be a waste of time. Still, what a blessed country this is! A few dots in the ocean that are beacons of light in the ravaged African landscape. That’s the official story and it’s comparatively true, even if comparisons are odious. But the recent chat with Monsieur Cunningham, that modern-day daemon, shows that beneath the light much darkness dwells. And what happens to men of unimpeachable integrity? They’re urged to leave for greener pastures. Unfortunately, true democracy, with its principles of integrity and equality, has only blossomed for brief periods in history. Even in Ancient Athens it only lasted for a few hundred years.
At least in many ways the MRA has become an exemplar of a revenue-collecting agency, despite the repeated attacks on it – for harassing lawbreakers – when what is needed is greater pursuit of unethical behaviour. Errant doctors and other professionals have been allowed to mend their ways by paying back taxes, without being exposed, and perhaps it’s not the worst way to operate. But when infringements in the Customs sector are detected, things become seriously criminal. What kind of containers will be used next? Zeus won’t take kindly to their using statues of divinities…
However, behind all the good work is a reticence to avoid interfering in the smooth running of government. What the truly Honourable Bert uncovered behind the scenes would have brought down leading political figures and probably the then government, which the MRA clearly felt was beyond its remit. What an example of two-handed justice but, as usual, the reaction to the Bert’s interview in official circles has been rather muted. If only bottom drawers and waste bins could talk!
The equally great scandal is that the leaders of the failed regulatory authorities in the BAI affair are still at large, even the auditors, despite what seem to be clear cases of complicity or criminal negligence? That’s without mentioning the Prince of Thebes – or was it Thieves, the stallion to whom all deferred? Aye, there’s the rub. What’s immoral isn’t necessarily illegal.
Meanwhile, how much more straightforward the saga might have been had there been better communication rather than populist soothings. The blunt fact is that, if people invest in an asset management company and it goes bankrupt, they risk losing most or all of their money. It’s a detail that should have been made clear to depositors – before they placed their undoubtedly good-gotten gains. The same goes for banks and insurance companies. After all, there’s worryingly still no sign here of even a basic depositor protection scheme for either – so how secure are they? Mind you, even in well-regulated countries, only a limited amount of money invested is guaranteed by governments. When banks in the Greek part of Cyprus collapsed, depositors were shaved – they lost a percentage of their money over a certain ceiling.
Still, if leaders have yet to learn that gold doesn’t always glitter, it’s unsurprising that Admirable are easily misled. With recordings suggesting things are still being brushed under carpets, Midas would be the first to suggest investing in balais fatak than in anything called Gold. I couldn’t help wonder what would happen if people could listen in to Mount Olympia so I consulted Pythia. She smiled enigmatically, helpful as ever. “Tapes are like doubleedged swords. They tend to unravel – and aren’t much use against Spartans.”
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