Haiti – A Solution

Everyone was shocked and saddened by the devastating earthquakes that hit Haiti last week. One of the worst natural disasters in history, the death toll is likely to hit over 150,000 people, though due to an underdeveloped infrastructure and the many mass graves that formed for lack of better ideas, we’ll never know the full cost in human lives.

The economic cost, however, is already being estimated, revised, and questioned. Understand that Haiti was already suffering from crushing poverty that, as evidenced by the ability to read this site, our readers and your writers will, thankfully, never fully grasp. The infrastructure was in a dismal state before these earthquakes tore the few pieces apart and was ill-equipped to get emergency supplies to the needy even on its best days.

The generosity shown by the world has been touching. The massive state and individual efforts to help this already downtrodden nation are truly inspiring. But it does beg the question: will it do any good? With no reliable way to get the funds to people who can use them (doctors, aid workers, food distributors), and no way for those people to get their goods and services to the people who need them, how can we be sure that the millions of dollars go to the betterment of Haiti and not some shyster’s wallet? This is where the previously biggest news story of the year comes in – the bankers.

Stick with me, it’s totally worth it.

Thanks to the financial crisis, voter backlash and dried up credit markets, lots of very talented bankers are left defending their professional worth and massive bonuses. To ward off a true uprising (think 1789), I thought of a great way top put the bankers to use and help them sleep at night. Bankers, business people, anyone with an MBA and a 6 figure bonus: I want you to fix Haiti.

You said it, kitty.

The argument goes that the bonuses are deserved based on the skill and experience these executives bring to the table. Free marketer that I am, I don’t disagree. But in the current climate, with government stepping in to run any bank it can get its hands on and the President making most of their activities illegal, work is going to be harder to come by. But this does present the perfect opportunity to prove their managerial and business prowess. Funded with the donations that have been given, all the troops and volunteers who’ve already pledged their time, and their Wharton educated brains, can these bankers manage Haiti into a thriving nation? (Maybe we can make a TV show out of it; think “Apprentice: Haiti.”)

Now, the hard part comes with compensation. These people don’t come cheap. I suggest taking a certain percentage of the remaining funds and pay them a bonus for their work once it is deemed a success. The rest goes as a nest egg for future need. If you’re good enough to turn it around, you can share in the surplus. Maybe the banks that loan out their talent can kick in for the bonus, as a way to get some much needed good press. Room and board will be taken care of for a period no longer than 3 years and anyone who walks away has to pay it back. End game is the first four quarters of consecutive positive economic growth.

Haiti needs sustainable business to get on their feet and stay there. Bankers need a challenge to keep them out of trouble. Hand outs and regulation are wonderful, but more is needed to keep this from happening after the next hurricane or tsunami or financial meltdown. So, I ask you bankers: how good do you think you are? Really?

Prove it.

*By Jesy, financial supporter and, apparently, delusional dreamer, who wishes this would actually happen.

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