Jaguar and other nonsense - Cocktales

[silver_corolla]

MALACAÑANG nominees in the sequestered Philippine Communications Satellite Corp. (Philcomsat) each receive a brand-new vehicle for their work.

But Enrique Locsin, a nominee of the Presidential Commission on Good Government to the Philcomsat board, insists that the Jaguar X he acquired after assuming the chairmanship of Philcomsat was paid for by him, all P2.525 million in cash.

If he was indeed flush with cash, why did Locsin have to get P1.922 million in housing loan from a Philcomsat subsidiary right after his 2003 appointment?

Even better, a year after, Locsin had paid only the grand sum of P67,857 for the loan.

At that rate, it would take Locsin over 28 years to fully amortize the loan, outlasting even the presidency of Gloria Macapagal-Arroyo and most likely the natural life of his brother, Makati City Representative Teodoro Locsin Jr.

[Juan Tamad]

Political Payback ni GMA uli!!!!!