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Vexed Bermoothes says that “Obama has a lot of support from Bermuda, partially due to his theme of bipartisanship. Whether he’s earnest or not, it strikes a hopeful chord for the 48 percent of Bermudians who are disenfranchised by our current government.”
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I don’t understand why Bermudians support Obama; tourism is no longer the top revenue earning for Bermuda, but international business, especially American business, has taken over. Obama is going to pull all that business OUT of Bermuda (and the Billions of Dollars as well) and what then? Mass poverty?
>>Barack Obama and Hillary Clinton have both vowed to punish Bermuda if either is elected US President in November, 2008. Mrs. Clinton promises a $7 billion “insourcing” programme, and Mr. Obama is vigorously promoting the Stop Tax Haven Abuse Act, which specifically mentions Bermuda.
There is a huge amount of money from overseas invested in Bermuda. According to an International Monetary Fund report on the Island, there were about 1,667 registered mutual (investment) funds in Bermuda, as of September 30, 2007. These comprised some 2,161 investment portfolios with net asset values totaling in excess of $310 billion. Government is making big efforts to tighten its anti-money laundering measures to comply with recommendations made by the IMF. In February 2008 the Bermuda Government tabled in Parliament the Bermuda Monetary Authority Amendment Act 2008 bill, which will aim to, among other things, enlarge the scope of the BMA’s powers of assistance to foreign regulatory authorities.<<
its a black thing…you wouldnt understand