By Alex P. Vidal
“The government is so out of control. It is so bloated and infested with fraud and deceit and corruption and abuse of power.”— Ted Nugent
WHY only ask the high-ranking Philippine National Police (PNP) officials to tender their “courtesy” resignation?
The police organization isn’t the only rotten agency in the Philippine government.
Why not include or begin from the most dangerous characters in our society: the corrupt, inept, negligent, avaricious, and useless politicians—both elected and appointed?
There is no distinction between the hoodlums in police uniform and the crocodiles wearing the Barong Tagalog or coat and tie and holding offices in the City Hall, Capitol, House of Representatives, Senate, and all other “lucrative” government offices where deceit and plunder are massive, overwhelming and unstoppable since time since immemorial; and the practice of graft and corruption appears to be no solution in sight and nothing can be done to curve and totally stop it.
They are all shame, scandal and menace to society. They are responsible for the Filipinos’ state of economic despair and gradual low quality of life; they contribute heavily to the culture of rapaciousness in the Philippines.
Look at the pack of wolves who become instant millionaires and even billionaires by using their positions and connections to amass unexplained wealth while in public office. There are many ways for them to get instant rich while in power.
In fact, it would be kind of us to ask for their courtesy resignation. In the first place, there’s no courtesy in what they have been doing. The word courtesy is a slap on our faces if we want to get rid of them.
Stealing the people’s money and waltzing with criminal elements make them the most discourteous and insolent characters in our society.
The Philippines is better off if these rapscallions are banished from our sight right away.
-o0o-
On January 10, 2012, or 11 year ago, we were among a small group of Filipinos invited in one of the most important events in the history of Philippine banking overseas.
It involved a corporate bank from the Philippines which “expanded” in British Columbia in Canada to serve the Filipino clients.
In a conference held at the River Rock Hotel in the City of Richmond, executives of the UnionBank of the Philippines led by then President and Chief Operating Officer Victor B. Valdepenas and Executive Vice President Genaro V. Lapez introduced their policies and mission before leaders of the Filipino-Canadian community as they reiterated the bank’s corporate vision and achievements in information technology.
As “enabler of the customers investment needs in the Philippines,” they bank was prepared to assist on entrepreneurship opportunities, financial advise, and safe and reliable payments for beneficiaries or Philippine companies and organizations, according to Lapez.
Then the seventh largest private domestic universal bank in the Philippines, UnionBank had assets of P253 billion, deposits of P192 billion, and capital of P36 billion.
The bank provided for their Canada based Filipino clients a wide range of commercial, retail and corporate banking products and services, including loan and deposit products, cash management services, credit and debit cards, treasury activities, and electronic banking.
According to Valdepenas, who was seated on our right side together with then Philippine Consul General in Vancouver Jose Ampeso, Aboitiz Equity Ventures or Aboitiz was the major shareholders among owner stakeholders with 43.3 percent shareholdings as of September 2011. Aboitiz was one of the largest conglomerates with interests in power generation and distribution, banking and finance, transportation and food followed by the Social Security System (SSS) with 21.5 percent shareholdings as of September 2011.
The state agency managed the pension/social security fund of workers in private sector, wage earners as well as the self-employed.
Insular Life Assurance Company was third largest shareholder with 16.1 percent shareholdings as of September 2011.
It was reportedly the Philippines’ leading and largest Filipino life insurance company with asset base of P72 billion as of 2010.
(The author, who is now based in New York City, used to be the editor of two local dailies in Iloilo.—Ed)
