BBM's Platform of Government

[Yatta]

Alam na this!

[dreamur]

Alam na this!

Goodbye pension plan (both private and govt employees). The govt has poor track record in investing public funds.

SSS Trading Scandal

2 SSS execs in stock trading scandal resign | Philstar.com

Pagibig Asiatic Housing Scam (Hello Delfin Lee!)

WHAT WENT BEFORE: Globe Asiatique housing scam | Inquirer News



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[BratPAQ]

Alam na this!

Hindi lang naman sya mag head. Meron din daw 2 directors na mag head.... na appointed ni BBM.

Also was it last year or 2020 na nauubos na daw fund ng SSS kaya kailangan nila magtaas, tapos hindi din nila mataas ang monthly ng mga senior beneficiaries dahil wala din pondo. Pero may extra pondo sila para ibigay sa maharlika scam este fund?

[Yatta]

[baludoy]

the controversial head of the presidential mgt staff takes a sudden break from her malacanang palace obligations

Angping seeks time off as Marcos PMS chief | Inquirer News

not sure kung may kinalaman daw iyan doon sa alleged bangkok scandal.

[baludoy]

https://twitter.com/News5PH/status/1...YOpXFqfSUraUFg

may "good cop- bad cop" subliminal suggestion take pa ah

[dreamur]

https://twitter.com/News5PH/status/1...YOpXFqfSUraUFg

may "good cop- bad cop" subliminal suggestion take pa ah

Either way, a marcos is still the winner :twak:

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[Devastator]

Imee talking about corruption? How ironic,

[Yatta]

https://twitter.com/iMPACTPH2019/sta...XiI3HX3GRAk9bA

Akala ko ba yung natalo ang lutang?

[Yatta]

https://twitter.com/zaldytor/status/...XiI3HX3GRAk9bA

Kaya pa!

[dreamur]

https://twitter.com/zaldytor/status/...XiI3HX3GRAk9bA

Kaya pa!

Hindi naman kasalanan ni dayunyor ung inflation eh.

Filipinos split in ‘quality of life’ poll | Inquirer News

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[Monseratto]

[Monseratto]

[dreamur]

When the law becomes a mere suggestion...

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[dreamur]

From the FB wall of Prof. Jay Batongbakal

Reposting from May 5. Doesn't this story sound familiar?

“On November 18, a week after the election, Senator Symington released his findings. In response, Secretary of National Defense Ernesto Mata angrily reminded the press that it was South Vietnam, not the United States, that had invited the Philippines to send troops, and insisted that his government had “received no fee or payment of any kind for the Philcag or its personnel.” To counter Secretary Mata, Symington then released copies of US Treasury checks signed by Mata himself and deposited in the Philippine Veterans Bank (PVB). It was the first public sign that Marcos was using the veterans—and their bank—for his political ends.

“The bank, chartered in June 1963 during the presidency of Diosdado Macapagal and opened to customers a year later, was the primary link between veterans and the Philippine government. The PVB operated as a public commercial bank but with government-appointed managers, drawing its initial capital of $20 million from Japanese war reparation payments. Policy makers decided that rather than distributing the $20 million directly—a move that would have given each veteran about $50 in cash—the PVB would issue each veteran a single share of the bank’s stock.

“It got shadier from there, as political opportunity displaced financial responsibility. The bank couldn’t issue stock certificates until the Philippine Veterans Administration developed an authoritative list of all Philippine veterans, so shares would meanwhile be “held in trust by the President of the Philippines.” The bank’s Japanese startup funds allowed it to operate outside the purview of either the Philippines’ General Accounting Office or its national Bureau of the Budget. An outside observer gently noted that the PVB “had not yet hired an external auditor” and that “investments rose sharply in 1966,” a year in which any returns on those investments would have accrued solely to its custodial shareholder, Ferdinand Marcos. The bank’s day-to-day operations were administered by three hundred employees who filled positions reserved for veterans or their families. By the end of 1966, more than 16,000 Filipinos (mostly veterans) had deposited their savings as retail customers, placing their financial and political faith in the institution and its promise to care for veterans. So too did “some of the country’s largest corporate depositors,” wooed by bank officials and, likely, the chance to influence its largest shareholder. Some 20 percent of the bank’s profits were set aside for the board, who could personally “give grants-in-aid to veterans, their widows, orphans or… heirs.” Reflecting patronage politics more than bureaucratic precision, the veterans’ list steadily grew from 500,000 to 640,000 in 1967. Then, with great fanfare, the PVB issued its first shares to ordinary veterans in late 1969, right in the midst of Marcos’s reelection campaign. To ordinary veterans, Marcos’s 1967 settlement of veterans’ claims and the opening of the PVB surely felt like victories they thought would never come from America. In 1946, the Rescission Act stripped them of their status. Immigration officers turned them away. The VA office in Manila denied their petitions. Now, at least, they were stockholders in the Philippine Veterans Bank.”

---
Capozzola, Christopher. Bound by War . Basic Books. Kindle Edition. A critical review of the history of un-even PH-US alliance relations, pp. 274-275.

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[TopEngine]

.... stated as "Investible Fund", the framers may have good intent, but how to safeguard this fund if it would push through. What's your take on this?

[uls]

di ko gets baket kailangan gumawa ng SWF ang pinas

it's not as if napakadami $$$ pumapasok sa pinas nalulunod tayo sa $$$

ano tayo Saudi?

[dreamur]

Sovereign funds are supposed to be funded by surplus reserves, but, we are in deficit because of our foreign debts. It doesn't make sense at all.

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[TopEngine]

Sovereign funds are supposed to be funded by surplus reserves, but, we are in deficit because of our foreign debts. It doesn't make sense at all.

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I think because PBMM administration needs funds for his projects, as we all know the previous administration had loaned huge amounts. This current administration would need to build new Energy Sources [aside from Agriculture], the Malampaya is depleting.

di ko gets baket kailangan gumawa ng SWF ang pinas

it's not as if napakadami $$$ pumapasok sa pinas nalulunod tayo sa $$$

ano tayo Saudi?

that's also my question, why can't just SSS, GSIS, Landbank, DBP just directly invests to National Dev't Program Projects by themselves? Or may be this Projects need massive amount of fund and create a pool of fund?

[TopEngine]

This issue is not the fund, but 'TRUST' issue if this fund would really put to National Dev't Projects [not on corruption]. Congress should make the frameworks that it would be transparent as possible.