Sina Bugeja the Chairperson of the Malta Community Chest Fund has to resign from her post and I am surprised no one is calling out her gross incompetence that has led the President of Malta to be unnecessarily involved in a financial matter of the Malta Community Chest Fund.
There are really zero excuses for this gross blunder. The President of Malta shouldn’t have been exposed to defend the decisions of the Malta Community Chest Fund with the local press. This blunder has been aggravated because the issue discussed in the press stems from the incompetence of the officials leading the MCCF itself. Such issues and matters are below the President and her dignity.
There’s too much tolerance for mediocrity thanks to successive nepotism and corruption of different administrations. We have been bestowed by multiple governments with do-gooders who have nothing to show but their good intentions and good intent, but have actually nothing to show for.
We don’t care how well-meaning Sina Bugeja is and neither do we care about her good intentions. The executives and leaders of the Malta Community Chest Fund have to aim to collective as much money as possible. If they make a mistake, they have to take on the media themselves. If the President makes a genuine mistake or gets into public trouble with the press, they have to take responsibility and protect the President. Since Sina Bugeja clearly doesn’t understand her remit, she is clearly not fit for her role.
The Malta Community Chest Fund should be run by private-sector professionals, single-mindedly focused on raising as much capital as possible. It shouldn’t be run by media personalities or government employees who “want to do good”.
As for the Binance donation, which the MCCF declined this year, according to the Times of Malta press report, obviously the MCCF are out of their mind and don’t understand what’s at stake. The donation could have been easily absorbed at a foreign financial institution, with the capital fully disbursed abroad to avoid risk and reputational issues with local banking and financial oversight.
In any case, Changpeng Zhao paid for his crimes, settled with the authorities, and he can’t be trialed again for the same crimes. Irrespective of its history, Binance nowadays functions as any regular financial institution does – also with a history of criminality like many other financial institutions. The MCCF is not a political party nor a private business – it’s a charity and charities rarely if ever discriminate by financial institutions or entities.
Everyone can see all the Toms, Dicks and Harries who have destroyed our environment and outpriced the young generations from the housing market in the construction boom, lining up at L-Istrina to meet with the President and give their money. Taking more from Binance wouldn’t have made a difference to the MCCF, but it would have made a difference to some people’s lives.
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