RCBC Finally Fires Out Maia Santos Dequito

The Asia Forum Journal

Recently, RCBC fired Maia Santos Dequito and Angela Torres. Ms. Torres is crying foul and complains “harassment from RCBC top brass.”

The case of RCBC is unprecedented, but there are other scams that have gone way up higher than the world’s tallest skyscraper that went undetected. Investigators still need to uncover for instance what happened to many heritage accounts at the Central Bank of the Philippines – CBP (renamed by Tita Cory to Bangko Sentral ng Pilipinas thereby giving away the CBP’s license as a Bullion Bank.)


Unscrupulous officials and private individuals have been milking the heritage accounts by conning the holders and signatories of those accounts and enriching themselves by forging the signatures and misrepresenting those real holders and signatories.

The RCBC scandal is really such a miniscule affair, too insignificant were it not for the alarm bells it raised due to minor mistakes made by the perpetrators. But…

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RCBC can fire Lorenzo Tan and Maia Dequito

The Asia Forum Journal

The Senate Investigation into the stealing of United States Dollars Eighty One Million (US$81,000,000) appears to be useless. They have not been able to unearth the true and real facts about how the stealing of the money actually took place. And where is the money now.

 

The central and key role players Kim Wong, Maia Santos Dequito, Lorenzo Villanueva Tan and other officials of RCBC including those of other banks, the casinos, will never reveal the real truth about the transaction. They will merely keep saving their hides and divert the investigation somewhere else.

Illegal Drugs kingpin Kim Wong

 RCBC Chief Executive Officer Lorenzo V. Tan

RCBC Jupiter St. Branch Manager Maia Santos Dequito

The Chairman of the Board, Helen Yuchengco Dee and the rest of the Members of the Board of RCBC can fire CEO Lorenzo Villanueva Tan and Maia Santos Dequito for Criminal Negligence, Ignorance, Greed and…

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Young Victoria Grant proposes solutions to end banksters’ corruption

https://youtube.googleapis.com/v/n_DHJ_xt7pg&source=uds

Sane Growth and Development

Before development happens, the integrity of society must be ensured. This includes government, the people, the various sectors, coming together or undertaking acts showing signs and semblances of convergence or confluence towards a greater goal, fortunately, for the greater good.

In case of the presence of intervening forces such as destabilization, massive corruption and decay of the state’s institutions, sometimes swift solutions need to be applied to prevent further deterioration of the politic into regression. During specific events in human history where the basic nature of man was fully put to test, the worst kind of behavior among constituents of the state deplorably brought nations down.

From the Middle East, Africa, the Americas, Europe, Asia and the cold continent vast territories were laid to waste due to the the surge of barbaric behavior among both the leaders and subjects of kingdoms and states. In the Philippines today, or even in the Americas, in Europe and elsewhere, developments like this are taking place. The decline in societal integrity threatens basic survival in the face of worsening conditions in the globe wrought by phenomena such as climate change, the onslaught of the hyper effects of maximized solar flare activity, the planetary behavior in our own Milky Way, among many others.

On many occasions in the past, often external forces were helpful in bringing about the healing of a kingdom or state. But the most poignant stirrings towards treating a nation’s ills must start from within.

The people of the Philippines will suddenly come to the realization at one point, that they are going on a downward spiral that will take the entire country past the point of no return. When this happens the basic politic will gradually slide inexorably into anarchy. The hostage taking in Zamboanga City, the succeeding similar sympathetic acts in Cotabato, the breakdown of the peace process with the Moro Islamic Liberation Front, the deterioration of peace and order, the overwhelmingly shocking reports about horrendous overspending for unacceptable purposes, appear to be clear manifestations in the scheme of things and such events will continue to fester and like wounds that grow into serious afflictions. Without doubt, these ills could develop rapidly into irreparable proportions.

At this time, benign foreign intervention may be necessary, or forceful internal interference – as it were – as it appears that the major force steering the country has become fully corrupted enough and totally demonized by its very own doings and undoings to have any more moral ascendancy to lead. There is no alternate but for the prevailing inchoate corporate philosophy of a government gone wayward to be wholly replaced by a saner and more coherent paradigm.

Mr. Aquino at Malacanang and his cabinet has lost their precious moment and bets are off. It is time for change, and in the Philippines’ case, an overhauling regime change. The people and the future generations deserve no less than that.

Source: http://shepherdlions.blogspot.com
September 17, 2013

Rationalizing severe business sector corruption

Bangko Sentral ng Pilipinas (Wikipedia photo)

Policy regime change is needed in the business and especially in the finance sector. The old paradigm of the Philippines and selected vassal type states with supplier economies, must be revolutionized. This will depend mostly on the act of the young, emerging, up-and-coming captains of industry.

The history of Philippine finance has been that of subservience and excessive docility towards superior super powers or stronger industrial economies. This cannot be the case any longer. Even with the excursion of individuals or groups like Enrique Razon to foreign frontiers, Ayala and other entrepreneurs – Eduardo Cojuangco Jr., Lucio Tan, Henry Sy, John Gokongwei to foreign enterprise destinations or missionary ports such as New Zealand, Australia, China, Latin America, Papua New Guinea, Vietnam, among many others, much has to be repaired in the Philippines.

Benevolent, jump-starting credit from both the public and the private sector is close to non-existent, breeding unsophisticated but widespread corruption within the private sector; the government is most of all helpless to stem this kind of graft and corruption within the world of Philippine business. The doctrine of trust as the most important item for purchase in the Philippines is extremely prostituted to nauseating proportions. At the end of the day, private enterprise becomes the receiving end of chastisement and censure for entering into haphazardly concocted schemes that bleed the public treasury dry or siphon the blood of the average consumer publics.

While banks deprive the vast majority of the country of credit, the financial sector lends indiscriminately to public sector institutions that simply steal the borrowed funds or connive with private business groups or ghost, or shell non-profit service providers to divert the loans and bank the same in private accounts.

Still, notwithstanding this cruel practice of the financial sector, Big Business engage in blatant theft of intellectual property of both local and foreign IP owners, enriching themselves without regard to any kind of regulation or rule designed to rationalize fair use of property rights.

One of the greatest failures of the state stems from the lack of a strong, collective espousal of concern for one’s country. The fundamental blame can be traced to this country’s entire educational system that is wholly inadequate in this regard in comparison with more nationalistic, patriotic states like Japan, Taiwan, South Korea, Malaysia, and others. Both the public sector and the business sector work in proverbial synchronicity towards improving the nation state – all in their own niches. Compounding this problem is that the sons and daughters of the captains of industry and political elite usually grow up under the watch and tutelage of more or less illiterate baby sitters (yaya) and imbibe a culture of Mr. Nonoy Marcelo’s nincompoopism, similar now to that exhibited by the national leadership.

As a classic example, in a few decades following the Second World War, Taiwan subsidized power, communication-telecommunications, among many other amenities so that business will grow. In the Philippines, both business and public sector will bleed the people dry for the use of these utilities but give way to the elite to be free of hassles in freely using and increasing their consumption of both power wattage and telecom air time.

The country plunged into the mendicancy promoting program of handing out cash to the poorest of the poor. This entailed nearly 3 billion pesos (about US70 million dollars) per year during the time former President Gloria Macapagal Arroyo and ballooned into 21 billion pesos or more (approximately US490 million dollars) at the present, in the incumbency of Mr. Benigno Aquino.

If credit regime policy was revolutionized and this so-called cash transfer program, including the billion peso bribes to legislators and bureaucrats were spent instead for pump-priming national credit, if only the leaders of the country were more patriotically inclined instead of exceedingly greedy, a lot of change would have happened over the last three years.

It will certainly take a mere pittance of the 2014 2.26 Trillion pesos Philippine budget to create islands of growth in the financial credit sector. But if things go on as they are, this is mere wishful thinking but without doubt a situation that could breed bigger problems in the near future. The state of want and deprivation everywhere surely will translate into bigger crimes, fuel terrorist group’s recruitment efforts and spur a myriad social issues that will be difficult for any future administration to competently manage.

Then again, the same could have been hoped, if the previous regimes from the post-Marcos era to the present had entered into this kind of paradigm shift. But there appears to be no hope for the country given the kind of nincompoops pretending to run the government or acting like captains of industry in a country they will never consider to be their own love. The best next thing that could happen in the Philippines then, going back to the initial premise that the only redeeming factor are the youth and the conscientious citizens of this land, will be a full-blown, whole system resetting revolution or a self-imposed values reorientation and policy regime shift by the business sector.

Every source of decay dies of its own; however, there is absolutely no crime in removing the root of a disease even before its appointed death. Relatedly, any system can always have bugs. But no system admin would appreciate running the system with the bugs when ridding it of the problem issues will make the thing run smoother, more efficiently and make every affected end user happy.

Source: http://shepherdlions.blogspot.com
September 8, 2013

Philippine Banking Dearth of Knowledge, Poverty in Intelligence

To conduct a comprehensive survey of bank founder-owners, bank managers, investment leaders, trust executives in the Philippines today, will bring one to misery, sorrow and disgust at the level of knowledge of bankers in the Philippines.

This is not to say that such a case exists only in this particular country. It is common in so many other nations. Only a few bankers truly are aware of their real, noble role as a public service institution, giving and delivering the best kind of service to the people.

In a world where there is no plus side to very small revenue or cash accumulation, bankers are inclined to accommodate rich clientele and Alvin Toffler’s dark characters who form the other side of the coin of that phenomenon in modern times that he calls rapid wealth creation: criminals, underworld, terrorists, drug kingpins and the like.

Extraordinary is a bank manager from Antipolo who declares, “from our subsidiary bank, if you have a transaction to settle with our mother bank, I can endorse you all the way so they will provide you all the assistance you need.” In the case of a bank branch manager of a large bank at V.A. Rufino St., Makati City, the lady manager says it is impossible to endorse a transaction or provide suggestion to the manager of another branch of the same bank. This Makati bank branch manager wants that all transactions must emanate only from her branch.

What will keep a bank manager from endorsing a client? And what will prevent the bank manager from Antipolo to continue to give positive, constructive aid to clients in linking up with other branches of his bank?

The manager from Antipolo is the epitome of the banker’s public service ethic. The manager from V.A. Rufino in Makati is distinctly the portrait of the imbecile banker.

More than 70% to 80% of bankers in the Philippines suffer from a dearth of knowledge and are extremely poor in intelligence as well as wanting in intellect. No one is to blame except their headquarters office and the kind of education bankers get from the Philippine educational system that cannot afford to teach the correct nuances and shades of meaning of banking jargon.

On the part of bank headquarters, the governing policy of their banking corporations are bereft of the desire to promote broader credit to the entrepreneur population. The hard and fast rules of KYC – Know Your Customer, is extremely distorted and warped so much so that even knowing the potential depositors are thieves, murderers, drug lords, gambling lords, possibly as well terrorists fronted for by their relatives and associates, the bank manager will happily endorse the opening of banking relationship with the criminal and proceed to service that enemy of the public.

Effectively, this makes banks Public Enemy, by association, as launderers of the funds of these members of the underworld.

Indeed, the benefit of the bank accepting as much cash and other valuables from these shady characters is tremendous, at least there should be balancing acts on the part of bank management to add a redeeming value to their inclination to accommodate and protect criminal figures.

Compounding the situation of refusal to give away assistance to clients, is the inability of bankers to fulfill their ultimate obligation to service the customer. In many foreign-to-local transactions, if the scheme utilized is new to the Philippine banker, the transaction becomes bogged down not be the absence of interest of the banker but by the lack of fingertip knowledge and second nature skill to attend to the needs of the client.

The exchange between bank management and client becomes endless with no results being delivered by the Philippine bank, whereas the foreign counterpart bank has already done its role: i.e. transmittal of documentary requirements for fund transfer or credit for the Philippine bank client. The time spent becomes long and tedious that all the initial momentum goes to waste.

If the transaction involves a definite, specific timeline, the transaction will go south. The losses might never again be recoverable. For the poor Philippine bank client, the damage could be enormous and irreparable. But will Philippine banker be touched by the final impact upon the client?

They can never probably be affected, unless they did it on purpose and only in a small way. The reason why the Philippine banker will not even think about the great wrong done on the client is that he doesn’t know and therefore he could not care less.

Land Grabbing by Multi Billionaire

BIG GUNS WILL SCARE YOU if you try to get back your land that is grabbed by a the Multi-Billionaire mentioned in the post below.

If you try something stupid, those big guns will be trained on you and you might get shot.

They mean business when they steal your land. They will do everything, including killing you. Its like, I’ll take your property but don’t mess with me or my bullets will stop you. That pure f___k! Why can’t we drive these unscrupulous business microbes away?

Announcement

A business organization internet site will publish an open letter, addressed to the top-ranked Asia billionaire owner of a huge retail-banking-real estate-gambling conglomerate with regard to illegal business practices without due regard to the parties that are robbed of the opportunity to profit from their proprietary interests.

This letter will be emailed to various public sector agencies concerned with providing legal remedies and sanctions on individuals and groups committing illegal acts similar to those perpetrated by the retail-banking-real estate-gambling conglomerate in the Philippines.

Rice shortage anyone?

Tragedy of a Nueva Ecija peasant

Wow! The news says, Nueva Ecija is the larget rice producer in the country. Wow, really!

But that is tragicomic. The penultimate irony of all time. I looked at a study of a small NGO worker in 1991 (don’t ask where to look for it idiot, use your brains!) and it said that a farmer with three hectares borrows money from an intsik usurero who lives in a posh mansion in Nueva Ecija for a horrendous interest.

When the farmer harvests his rice, all the supposed income he gets is not enough to pay the intsik usurero because he has to pay in terms of palay and the valuation of his palay is a measly P50 pesos per sack of 50 kilos.

After the accounting during post-harvest time, the farmer again is indebted through left-0ver debts to the usurero despite the fact that he should have realized a true income of 100,000 or more pesos per hectare of his ricefields.

That’s the tragedy of the Nueva Ecija farmer. And it has been going on and on and on and on. The US World Bank was never able to beat that. The Russian Soviet Union and now Russian Federation has not been able to beat that, despite the fact that Russia has been educating a large number of Nueva Ecija young people in Moscow Universities and other top calibre schools there in various disciplines.

Only the Philippine government can do something about it. Or else I will. I’ll kill the usureros and let the banks take over. If the banks will not behave, I’ll kill the bank managers too. Of course, Deo Macalma’s bubwits will say, Hey, you can’t kill the usureros! They’re paying huge revolutionary taxes!!! Then let’s electrocute the collectors of revolutionary taxes by their anus, how dare!!!

Transpose Isabela, Cagayan, etc. into the term Nueva Ecija rice farmers. The same situation is happening in many parts of the country. And all because our farmers are unfortunate enough not to have the wherewithal to make war against the usureros. Why, a lot of them just go to Manila instead to find greener pastures only to end up in the urban jungle and be devoured by the cosmopolitan wolves, many of whom are relatives of the provincial usureros themselves. Sonofabitches!!! Shits!!!

To Sec. Arthur Yap, you’re right there is no rice shortage. There is only a shortage of very short babies’ belts for the Nueva Ecija farmers to tighten.

Could you actually dig that, Mr. Yap? Madam President?