by Lito Banayo
Malaya
The signs are all around us. The agencies and institutions which form the polity of this nation are falling apart.
The regulatory agencies which are supposed to ensure that the public is protected from the excesses and abuses committed by private business in its pursuit of profit and market objectives are negligent, and in many instances, even collusive.
Of late, we have been shocked that the World Bank blacklisted three of the biggest public works contractors in the country, whose accounts with the DPWH run into the billions of pesos each. What became more shocking is that the House of Representatives, or at least its public works committee headed by a contractor, the gentleman from Southern Leyte, and whose vice-chair is another contractor, the gentleman from Pampanga, circled the wagons to protect their fellow contractors, and damned the World Bank for its effrontery in investigating three of their kind. Funny how these guys wrapped the Philippine flag around the blacklisted contractors.
A crisis brought to the fore years ago, about the capability of educational pre-need plans to live up to their written commitments, in the case of the Yuchengco-owned Pacific Plans and the College Assurance Plan, should have brought the regulators, in this case principally the Securities and Exchange Commission, looking for solutions to protect the victims (of which my own family is one), and ensure that the problem is obviated. Nothing.
The queer sell-out for a song by the powerful Yuchengcos of their moribund and hollowed-out pre-need firm to a rather unknown guy who happens to be close to Malacañang, recently brought the same controversy back to life.
And the Pandora’s box reveals that so many other pre-need firms are on the verge of collapse. Along with their financial ruin, of course, crash the hopes of hundreds of thousands of poor and middle-class families who had pinned their hopes on the educational future of their offspring.
And what has the SEC done all these years, since the red flag went up two years ago? If you are to judge by their lame statements, clearly they are still clueless.
One of the fall guys in the Alabang Boys’ drug scandal, a lowly prosecutor in the Department of Justice, is getting the heat for an 800,000 peso deposit traced to his and his spouse’s account in some bank somewhere in Tarlac. If the guy got less than a million, assuming these monies are related to the dismissal of the case, who but an absolute dolt would believe that others in the hierarchy did not get anything? Why, I am reliably informed that the lawyer who fixed someone higher than this guy Resado is very, very influential because he is a partner of a very, very powerful congressman, whose son is one of the most influential figures in the current dispensation. And this lawyer is also hooked into drugs, the ecstatic kind that the Alabang Boys, say the PDEA people.
And then again, you wonder how this guy Resado, whose services as a lawyer in the useless Legal Division of the Philippine Tourism Authority were terminated years back, and whose termination was finally affirmed by the Civil Service Commission four years ago, got another job in another government agency, and this time in the agency that is supposed to prosecute crooks and criminals – the Department of Justice?
Yes, Manong Raul, this lawyer Resado, who used to be a casual, later recommended for a permanent item by the division chief, was terminated after the period of probation, when his record of under-achievement was reviewed. He would lose cases of the PTA by default. Maybe he was so busy lending money in the public market of Camiling? When his appointment was not renewed after the probationary period, he went to the Civil Service Commission, whose regional office sustained him and ordered his re-instatement. But the PTA management appealed to the Commission en banc, and thank God there was a Karina David who sifted through the minutiae of the case, and sustained management. Why should the lazy and the incompetent be allowed to populate government agencies, indeed?
So you wonder, how did he get a job as prosecutor in an even more critical agency of the same government under the same leadership? Will wonders never cease?
The reason is there for us all to see. Ours is a bureaucracy so hopelessly corrupted. Our institutions are falling apart. But then again, what can you expect when, as it always is, a case of follow the leader? A leader who thinks nothing is wrong with calling up an elections commissioner in the wee hours of the night and ask, “Will I win by one million?”
And whose husband thinks there is nothing unseemly about meeting public works contractors, and asking the DPWH secretary to meet with him and the contractor together. Why, if Ping Lacson had the appointments book of El Esposo in 2003 or 2004, would it shock us if, perhaps, he also met with those characters in Joc Joc’s looney tunes, such as Jimmy “El Suave” Paule, and that Larena woman?
The then majority floor leader of the House of Representatives, now its Speaker, arranged for a dinner with then Philippine Deposit Insurance Corporation CEO Ric Tan in 2005. Lo and behold, Ric is forced to shake hands with Celso de los Angeles, whose gamut of rural banks under the flagship of “Legacy” (a word that sounds familiar even in the Byzantine halls of the stinking palace beside the stinking river) he had begun to worry about.
“Primo, give him what he wants, he needs it. He helped Kabayan (the vice-president of the Republic, in case you have forgotten) a lot,” Nograles tells Tan. So helpful that he at a time headed the National Home Mortgage and Financing Corporation, (part of the housing flagship HUDCC which Vice-President De Castro heads) from where he was forced to resign. Ah, but that’s another story, filed for some future article.
Obviously my friend Ric did not “give him what he wanted,” and so he was replaced, first by Mike Osmeña who died, and later, till the present, by Joepot, the younger brother of El Prospero. Now that the Bangko Sentral has closed the Legacy rural banks, who will foot the bill?
Why Joepot’s PDIC, naturalmente. Poor Joepot, who’s really a nice fellow if you ask our Dabaweno friends. And since PDIC does not have the 14 or so billion to cover the numerous “small” accounts that went under with De los Angeles’ legerdemain, he now wants to borrow from the Bangko Sentral ng Pilipinas.
The same Bangko Sentral which has a division that is supposed to closely audit and supervise the operations of the Legacy banks, among others. I would think BSP Governor Armando Tetangco has had nothing to do with this unseemly group of banks, but what about the boys under him? If they had done their jobs punctiliously, as holders of fiduciary responsibility, would Legacy ever have lasted this long in its high-finance schemes?
And once again, we recall that it is the same BSP which in some other time, and under some other Monetary Board composition, which allowed a dying bank, Capitol, its name was, to borrow in two tranches a 180-day loan totalling 1.5 billion pesos. Just like that. And when pay-up time came, the same BSP accepted payment in kind, dacion en pago, the bankers and their lawyers call it, of real estate worth less than a fifth of the loan principal. And later discovered they were holding spurious titles to the dacion, the mother title of which was given during the Japanese occupation – en tiempo de la guerra mundial! Bakerrrru!
The system is falling apart. Everything is falling apart.
The tragedy of it all is that it’s our money they fiddle around with. It’s our future they toy around with.
What a country!
Lito Banayo’s revelations are just a few of the many ills in this evil and corrupt government. Many we already know and some we only know now and many more we still don’t know. Despite all these anomalies and scandals, how many cases were filed and prospered? If we talk about Arroyo’s eight years of incompetence, we can’t help but mention Bush’s own poor records. President Obama could have inherited tons of problems from Bush; but Americans are ready to support their President in time of crisis. Republicans and detractors are willing to cooperate with their President because they trust him and believe in his sincerity. But, what about the next RP President who would inherit Gloria’s crimes and sins? Those who want to seek the highest office should be smart enough to consider the very serious challenges he must face.
Unless the candidate intends to repeat the Evil Bitch’s records, he might as well think twice before running. Nevertheless, the country cannot be without a President or leader. So, what we need is someone from opposition, a true and genuine one, to make sure that the Arroyos’ and his cohorts be charged for their crimes. If the next President is a GMA clone, then the next option is for all Filipinos to leave the country.
Philip Pestano Memorial
Justice at 3 A.M.
by Fr. James B. Reuter, S.J.
*Note: This is the e-mail prayer brigade initiated by Fr. Reuter for
Phillip.
Phillip Andrew A. Pestaño graduated from the Ateneo de Manila High
School in 1989, entered the Philippine Military Academy, and became an
Ensign in the Philippine Navy in 1993. He was assigned as cargo
master, on a Navy ship.
He discovered that the cargo being loaded onto his vessel included
logs that were cut down illegally, were carried to the ship illegally,
and were destined to be sold, illegally. Then there were 50 sacks of
flour, which were not flour, but shabu – worth billions. Literally,
billions. And there were military weapons which were destined for sale
to the Abu Sayyaf.
For more of this, check out
http://www.uniffors.com/?p=1275
ouch ! my own people are lost? 🙂 i know exactly what they are getting into. The best contractor in Southern Leyte who provided the best quality road with no holes and pimples, was the Kumagai from Japan in the 80’s. The back road from Sogod to Bato ( not sure) requires a bridge that is beyond the expertise of our local contractor. I am not in the position to speak for my grandparents province but I believe that the bridge of nowhere is not a priority of this province. If there will be a bridge, it should be provided by a contractor with history of quality work.
Puro palpak…
What we see today are bridges over troubled water…if you know the song.
RE: If the next President is a GMA clone, then the next option is for all Filipinos to leave the country?
I made that decision before the fall of Apo Macoy, and i do believe that my decision 23-years ago will be okey at dala ko ang pag-asang ito, aba kabaligtaran ang pangyayari…lalong nagago ang takbo ng Pinas, sa halip na umunlad e lalong nabaon sa kahirapan at kawalang direksyon ng pamumuno?
So, now…my only wish e bumalik ng Pinas to continue our fight against the evilbitch and her minion kung sakali na muling mang-agaw ng poder ang mga pesteng yan.
Enough is enough na yong kanilang kawalanghiyaan sa taong bayan, kaya dapat tuloy ang pakikibaka at yong mga kurap at sinungaling sa ating lipunan eh lipulin nang lahat. Sila ang salot sa pag-unlad ng Pinas at kanser ng ating lipunan.
Falling apart is looking at the glass half empty. I see it half full. Our little world is being cemented stronger, every nook and cranny is refilled with crooks. Everyday is a heydey, new scam discovered and covered up. Money flows in streams into pockets. Our dreams are fulfilled, eradicate the bad guys, but the good guys first.
The system maybe falling apart; everything maybe falling apart BUT putot is happily floating on a raft buoyed on corruption and greed and now flying to meet world leaders and probably will beg for help and will cry that her ship is fast sinking. Not realizing perhaps that her ship is heavily loaded with cargoes like the big fat ‘boy, esperon, ebdane, falfakran, ga neri at ganid too…pero nasa atin kung payagan natin siya..sana darating na ang mag indira gandhi!
Ellen, this is a management issue. The Senate as the policymaker should have passed legislation to regulate pre need insurance companies during the time it opened.
the primary purpose of insurance regulation has been to maintain financial solvency and soundness so they can carry out their long term obligations to policyholders. This type of regulation governs RESERVE policies/requirements, capitalization, rates and various other back office processes ( financial ratios). SEC and the Audit Department must work as a team.
No audit, no money. In Philippines, Insurance accounting Principles (reporting and auditing) must be done quarterly not annually. The current legislation only requires yearly reporting and auditing. That’s not regulation after all and besides, even audit department are so corrupt. walang na ba talagang natirang matino diyan sa pinas? bakit ganun na lang palagi.
In the event of liquidation, policyholder must have preferential status to have priority of claims over all unsecured liabilities of the insurance companies other than corporate taxes and wages of employees . Or when another insurance company takes over like a bail-out, the policies and premiums should not changed.
The damage has been done and here’s my suggestion:
1. hire a lawyer to demand a settlement with the government, demand that fixed assets of pre need companies must be stopped from selling or transfer its assets to another legal entity. ( buildings or other tangible assets with value). demand that the people who are involved could no longer do the same monkey business. or demand that these people must pay, confiscate their asset and pay Big time Bail or they all can go to jail. hmmmmmmnnnn.
2. Ask the court to make a settlement to allow full tax deduction of all premiums in 5 year increments or in lumpsum. For example: if one contributed 300,000 pesos total. he/she can deduct 50,000 pesos or more from yearly income to offset tax payable. ( consult a CPA on your income tax bracket) This is under investment losses.
3. A new Bill must be drafted to allow the victims and the beneficiaries ( children ) to go to school at government’s subsidies.
I am sensing that the people in charge cannot comprehend complex business transaction. This problem has been there for so long. I remember my mother was crying when I was about to go to college. She lost all her hard earned money. That was 20 years ago. The insurance agent eventually died of heart attack. At that time, there was no blogging. 🙂
Let’s rock the boat
asian, but those figures you listed are not representative of the bulk of the investors/suckers who were scammed into believing their 2,000-peso monthly contribution per child would be safe until the child finally enrolls and finishes in a second-rate university all five years costing presently at P300,000. But what the PEP parents are going to receive in 2010, when the bonds PEP invested in would mature, is a mere full refund, with some token for interest which is waaay off the actual college expenses they are now to foot by themselves. But even if all the bonds matured, the calculated end-of-term funds still fall short because the prices of tuition have increased tremendously. The parents will still have to wait for 5 to 10 more years just to get their refund?
I don’t know what Noel Oñate has in his mind when he bought PEP Plans. But this shrewd businessman who is politically well-connected (presidential adviser Claudio is his cousin) created Air Philippines in the nineties as a coop with P150M up front and sold it last year to Zest-O owner Tan for a cool Billion pesos. But this investment banker has shady political dealings my friend Philip Piccio who heads the PEP Coalition has his reasons not to trust him. It might be one scam on top of another. British scammers even have a name for this – slopping.
My British friend tells me it’s easier for a scam victim to fall for a second fraud. “It’s because a muppet is a muppet”, he says. Fraud victims get calls from fake lawyers (who are actually the fraudsters who victimized you the first time around) who are supposedly fighting a class suit and since you are a victim you should join their clients. You then get to pay membership, some other recurring expenses, and “minimal” legal fees – for nothing. Remember the Pepsi 349 Coalition? They just supported the lawyer’s lifestyle for years and not a centavo was awarded.
My advise: never trust everything to lawyers.
is my number 3 suggestion not good enough? 🙂 Let’s calculate future value in 5 to 10 years then. the full value must be fully subsidized. Regulatory failure is the responsibility of the government to make a fair settlement to all policyholders.
Almost all Philippine institutions that supposed to be the solid base and foundation of the state are all falling apart. This really is no surprise if one follows the daily goings on in this country. From the very top to the very bottom the government is rotten to the core. Officials and leaders most of the times are busy politicking and thinking of how to enrich themselves, their cronies and relatives. Government watchdogs who are supposed to be the guardians are all negligent and impotent in their responsibilities. It’s all because of corruption the evil that rears its ugly head in every turn in the governance and administration. It’s corruption that seeps and destroys the very foundation and moral fiber of Philippine society and unless something drastic is done to prevent from falling apart, soon it will start crumbling down.
dati ay matibay ang pundasyon ng ating pamahalaan at lipunan subalit mula nang ito ay pagbahayan ng mga anay ang dating moog ay naging ampaw. nawalan ng tatag, ng kakayahang makipaglaban sa hagupit ng daluyong na nilikha ng kasakiman at patuloy na guguho’t malalansag kung sa halip na ating isalba ay panonoorin lamang hanggang maging alabok na tatangayin ng hangin.
tayong mga nakikipaglaban (hindi man pisikal) sa katiwalian ay hindi rin magtatagumpay kung ang mga direktang naaapektuhan tulad ng mga kababayan nating gapang na nga sa hirap ay nagpapauto at nabibili sa isang balot na noodles, isang kilong bigas at isang lata ng sardinas na binalot sa gift wrapped na walang hanggang pangakong malabong magkaroon ng katuparan sapagkat pangako nga lamang mula sa isang sinungaling at mandarayang magnanakaw na si gloria arroyo, ang nilikhang walang karapatang manatili sa mundong ito kahit isang saglit kung babalikan ang lahat ng kanyang mga kawalanghiyaang ginawa mula nang maluklok sa inagaw at ipinandayang kapangyarihan sa tulong ng kanyang pamilyang gahaman at bayarang mga alipores.
http://www.mcc.gov/documents/score-fy09-english-philippines.pdf
Millennium Challenge Corporation:RP Fails in “Control of Corruption”
It will be more effective and deadly to have a vigilante from within the military or police. Why? They are already inside and knows the ins and outs. They already penetrated the pidal mafia’s criminal syndicate.
Also, it is better to have a vigilante like ILAGA. People will support an ILAGA type of vigilantes as shown in Mindanao than an NPA.
Philippines started falling apart when GMA became president. Four days after she assumed office in 2001, the Arroyo administration signed the most controversial power plant contract in the country and turned it over to the Argentine firm IMPSA. In fact, it was so controversial even the past Estrada-administration officials refused to approve it despite pressure from the ousted president.
The government loans made by her regime are more than twice compared to the loans made by 3 preceding presidents combined. This is despite the added government income from the VAT, which is more or less P300B per year. This year, it needs to borrow again half of its budget.
Thinking of much they can pocket in preparing the budget is fun to them. For 2009, P120B or almost 10% of our budget is allocated to DPWH. P12B to P18B of the budget can easily go to the pockets of the corrupt officials. It was reported that the minimum bidder/s among the collusive contractors would bid 10% to 15% over DPWH’s estimate while the other bidders will bid 30% to 35% higher. The lowest bidder will be awarded the contract. The 10%-15% tongpats will be awarded to the corrupt officials. In some cases, the tongpats can go as high to 600% as in the case of the Diosdado Macapagal Boulevard.
The DPWH is just one of the milking cows of the present regime. And let us not forget the monies coming from drugs, gambling, smuggling, bribery, land grabbing and stealing.
No wonder why GMA was listed as the most corrupt Philippine president and the 2nd most corrupt leader in the world.
Though our society is falling apart, there are still some glue holding it together. My wife and I have been reading a report where two police officers of the PNP found a purse with P12,000 in it. In the purse was also a receipt from a pawnshop. The two police officers said they were tempted to divide the money and pocket it, saying they are also in need. But after some soul searching, they decided to return the purse to its rightful owner together with all its contents. This is the kind of glue I’m saying that is still holding our society together. There are still many of this kind of glue. You can find them among the lower ladder and rank and file. But this glue is becoming rare and scarce. There may come a time, and it may be soon that this glue will completely disappear and that is when our society completely falls apart. Fear that day.
Xman – vigilante from within the military or police force – the patriot kind I believe. This may be the people who see that evil of their leaders. We’ll only know their deeds but not of them.
I agree with you Syria, alam di aamin yang si gloria na siya ang pinakacorrupt na presidente sa buong Asya at kabilang sa top 10 sa world?
Kita mo naman yong mga lapdogs niya, todo ang sangga pag si gloria na ang issue…so obvious na talaga ang pangangatwiran especially yang si tandang ermintanyo?
Halos lahat naman ng mga lapdogs niya eh walang kredibilidad na mamuno, dapat sila ang kasuhan ng treason dahil napaniwala nila ang tayong-bayan sa katauhan ni Cardinal na makasalan na si citizen Erap ang kurap.
Ang issue nila eh anak ng weten at ginawa itong alibi upang sipain si citizen Erap sa pwesto…kita mo naman, lalong nagkaloko-loko ang takbo ng Pinas?
Sino ngayon ang kurap at sinungaling, di ba ang kampon ni gloria the master and grandmother of all scams and lying tongues?
Yong mga Pinoys na naniniwala pa kay gloria e ubod ng tanga at manhid sa katotohanan? Yong tangengok ay kamag-anak ng sinungaling at kaibigan ng magnanakaw!
Yes Mpanelos, patriotism is alive in the hearts and minds of many who are not joining the rallies for one reason or another. Look at the persons who leaked the info on the deposits of Resado and Blancaflor.
They are outraged even if in silence.
You are right, ” There may come a time, and it may be soon that this glue will completely disappear and that is when our society completely falls apart. Fear that day.”
But unlike you, I don’t fear that day. I look forward for that day because only after that can we begin a genuine reform.
MPanelos,
It will be happened only if you, me or anybody from Ellenville community or any sectors of our societies ay mawawalan ng pag-asa, but still we are alive and kicking…kaya sorry na lang sila dahil kung ang piso e binawasan mo ng singko e di pwede itong maging isang piso.
Kaya tuloy ang laban at walang iwanan lalo na sa mga pagkakataong ito na seryoso ang lagay ng ating bansa sa mga hudas sa ating gobyerno?
Yong takda eh darating ito tulad ng isang magnanakaw na di nila namamalayan sa oras ng pagdatal, kaya never tayong panghinaan ng loob at yong buhay na pag-asa e laging nasasa ating mga puso.
Like our ninuno and fathers who fought against the foreign invaders…di sila pinanghinaan ng loob kundi tuloy ang laban sa pakikibaka.
Now a days, ang tunay na laban eh Pinoy sa Pinoy so madugo ito kaya masakit isipin na mismo ang ating kababayang Pinoy ang ugat ng lahat ng mga pagdurusang ito.
We need to correct this wrong motives and dreams para sa ating Inang Bayan, Isa para sa Lahat at Lahat para sa Isa!
Gabriela – I do like your optimism. Like what the Professor said in the movie The Day the Earth Stood Still – “It is only when at the precipice we change”. And like what the leader of the penguin commandos flying the plane in the movie Madagascar said to the passengers – “I have good news and bad news – the good news is we are going to land – the bad news is we are crash landing” And the is where the situation will lead. It is good to have fear and lots of humor. As to genuine reform – I’d like very much to meet that kind of specie.
BTW, Lito Banayo’s columns can now be viewed in his blog litobanayo.blogspot.com
I also saw Ellen’s posts in http://blogs.gmanews.tv/ellen-tordesillas/
Yes, Tongue, GMA7 online carries my Malaya columns. I don’t send all though.
ABS-CBN online used to be the one to carry my columns but with the change of management in the online division, there were new policies which I didn’t like. Since GMA-7 had a standing offer, sa kanila ko na binigay.
GMA-7 online is number two in the most visited Philippine online site. Number one is Inquirer.net.
Napansin ko nga. Your picture there looks like it was taken during your Pakistan trip?
MPanelos, the two cops who returned the money should indeed be commended for their honesty. But sometimes, one gets to think that the money was too small for them to divide. They could have chosen publicity, recognition reward and promotion over the small amount of (P12,000) for two was not much. But don’t get me wrong…I’m not making a conclusion or judging them.
Atlest BE…kahit papaano eh mayroon pang matitinong Pulis sa PNP, aminado ako diyan and ofcourse nadadamay lang sa kawalang-hiyaan ang mga matitinong Pulis ng dahil sa ilang mga bad eggs sa kanilang hanay.
Kaya saludo ako sa mga Kapulisan natin na tunay at tapat ang kanilang serbisyo sa taong-bayan. Wag kayong panghihinaan ng loob, sapagka’t pagsubok lamang ito sa inyong hanay.
Sabi nga ni citizen Erap na weather weather lang!
That is entirely possible bitchevil. Maybe if what they found were $12,000 a different story may have emerged. But that would be putting the cart ahead of the horse. Be the amount be a smidgen or humongous, that they opted for honesty and reward is good enough. Having tasted being honest and caring and seeing the smiles and gratitude of the family who owns the purse could change even a harden bad cop to do some good. That is putting faith in men. And if in the end they really are bad cops then eventually they will be exposed for what they are. I agree with balweg, lets not lose hope.
How about this Man who kept a promise of giving each of the 6 “girls” $30,000 for good service and he looked for them and already found two and four more to go:
http://www.thestar.com/news/canada/article/579560
i’m following this Legacy Bank “double-your-money-scheme” and will soon write an entry for my readers. i don’t know if you guys read the connection of Nograles which, based on this article on the inquirer, seemed to have some inside knowledge of what’s going on at Legacy because of this:
Interestingly, in the same article, it says:
Whoah! This story is like one for the books! Read the story here: http://newsinfo.inquirer.net/inquirerheadlines/metro/view/20090131-186596/Speaker-Nograles-in-deep-trouble
I’m thankful that the Inquirer came out with a special report on Legacy.
I think I’ll post the Inquirer story separately.
reyna elena,
There is an easy way to compute the “double-your-money-scheme” using Albert Einstein’s Rule of 72. Here’s how.
To be able to do compound interest problems in your head, the Rule of 72 gives you a lightning fast benchmark to determine how good (or not so good) a potential investment is likely to be.
The rule of 72 says that in order to find the number of years required to double your money at a given interest rate, you can just divide the interest rate into 72.
For example, if you want to know how long it will take to double your money at eight percent interest, divide 8 into 72 and get 9 years.
The rule of 72 is remarkably accurate, as long as the interest rate is less than twenty percent.
You can also run it backwards. If you want to double your money in six years, just divide 6 into 72 to find that it will require an interest rate of about 12 percent.
Because compound interest is a really marvellous invention. – Albert Einstein (1879 – 1955) called it the 8th Wonder – It can work for you, or against you. When you invest it works for you. When you borrow it works against you!
The banks operated by Legacy offering 5% interest per month or 60% per annum is just too much. You are lucky to find a reputable bank that will offer you more than 10% interest per annum. Good banks are normally contented with a minimum gross profit of 20% per annum.
Syria,I posted Inquirer’s Legacy story separately. I’ll post this comment of yours in that thread. Thanks.
syria,
thank you. i’m quite familiar with the rule of 72 🙂
but for Legacy, there’s a lot more than compounding that happened. the details are just unfolding. i’m very interested about the news.
There’s a positive side of falling apart. It will provide authorities guidance to correct and review rules and regulations, to make policy changes and to remove non performing officials. The result should be a more transparent banking system.
If our regulators cannot audit and report, then the burden lies to the management of such department. These people are paid, expected to perform and implement.
If our managers and government personnels cannot deliver and perform for the goods of the people, this country will never achieve democracy. The people will always become a victim of fraud and corruption thus will fall apart further.
This is now our duty to become vigilant and express our demands for reform. The Senate should be very quick in making changes to our Laws and legislations.
This is a link on our Senate’s productivity, at least a summary.
Here’s the latest I got:
Candidates for Administration: Noli-Ronnie Puno
Opposition: Ping-Mar or Mar-Ping
Villar, Legarda…deal in process with Administration
*Even if Erap knows he would be disqualified by SC, he might still run and pick a good, loyal running mate as Vice. So when Erap is disqualified, the Vice would take over. Who the Vice is….still being picked.
be, for sure GMA will volunteer and she may even bribe Erap P50B to make her his running mate.
be, i like the Mar-Ping or Ping-Mar comb. Both of them are clean and both have balls. Mar has the balls to curse while Ping has the balls to ping the corrupt government officials. Mar is good in business and economics while Ping is good in peace and order. Mar’s prospective senatorial line-up are fighters for good governance.
The Phils. is falling apart.
This, while the chief of DOJ is doing injustice to, er, justice. And all because Gloria continues to be his “friend” and he, as Gloria’s pal.
Gloria is palling a fart.
US President Obama wanted a Stimulus package.
The Evil Bitch wants Stimulate package.