We’ve Put Money Where Our Mouth Is: CBL Governor Declares

Governor Jones: Photo Liberian Observer

 

The Editor,

Governor Jones is now the most popular man in Liberia because he has the power to hand out other people’s hard earned money to you, and you don’t have to show proof that you can pay the money back (unsecured loan)! It must be nice to be friends with the Joneses! (Re “We’ve Put Money Where Our Mouth Is, Liberia’s Central Bank Governor Declares”)

But who give Governor Jones the power to lend other people’s money to you to fight poverty?  Maybe I should ask: Has Jones has ever read the Central Bank of Liberia Act of 1999? 

Why?

Because there’s no where in the CBL Act of 1999 that grants the Governor the power to take the banks’ depositors money (reserve requirement) and lend it to market women or thieves in rural counties!

Nor does the Governor has the power to print the 5 million Liberian dollar out of thin air and lend it to his buddies in the Liberian Business Association (LIBA)!

But look, if Governor Jones and his many smart caring colleagues (with economics degrees) REALLY want to help market women and LIBA, why don’t they (Jones and his smart colleagues) just open a bank and lend their OWN money to market women and LIBA?  You should put your money where your mouth is Governor!

It’s whole lot easier to brag about “putting other people’s money where YOUR mouth is” than brag about putting YOUR own money where YOUR mouth is”.  Isn’t that so, Governor?

Martin Scott,

Atlanta, Georgia

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