March 29, 2011Dear Sir,The Morgan’s Point/Southlands land swap is perhaps the biggest financial mistake in Bermuda’s history. So painful that it can’t purely be measured in dollars due to the qualitative loss to present and future generations but I’m sure it exceeds $50 million. The three developers of Southlands were experiencing environmental protests and other issues with their development plans. The Government bailout “swap” offered them our unique private harbour-sheltered waterfront peninsula with deep water dock, flat land, (not sandy) and no environmental/planning issues (brownfield), no South Shore dividing land from water, low density area. The land potential is far superior to that of Southlands and therefore it would have been ridiculous even if swapped at a 1:1 ratio. We gave them the land at a 2:1 ratio!.... 80 acres or so. Dear Bermudians, our precious Morgan’s Point is now in private hands. Yes we will have a new park in Warwick but the price we paid is beyond comprehension. The potential of Morgan’s Point was magnificent and unlimited…hotels, parks, anything, and it should have never, never been given away to private hands…and it literally was given away.SWAP NOT