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…

View original post 1,221 more words

We have the Power. We will Overcome!

The people are tired of living under the very dark aegis of the current regime. It appears as though a cloud of evil enveloped the country.

From the onset, weird things were happening under the disguise of “reviewing contracts,” therefore there was a complete cessation of public spending. No projects were being started or continued, everything came to a halt. Other rationalizations came in the form of: “We have no money, the previous administration spent it all, and advanced budget allocations ahead of time…” and so on and so forth. But nobody believes this canard. Because it started to show in the burgeoning national budget despite that there was no spending being made.

The funds for mysterious utilizations like the dole-outs called conditional cash tranfers or CCT, Development Acceleration Program – DAP, among many other diabolically ingenious money-grubbing schemes by the national leadership, ballooned into mind-boggling size that the hunger for money of these creatures becomes clearly, shockingly unbelievable.

 

Where do they get the gumption and gutzpah to engineer such thievery of the people’s money? It cannot be because of telephone and mobile cellular conversations with pastors, Cardinals nor the Pope himself. Because such horrific, sinister schemes speak only of the work of the darkest elements and the malevolent so-called laman-lupa.

 

To make it worse much further, this administration was not only lazy, it was insane. The regime was both psychologically and somatically impaired. The disease it suffered was incurable, irreparable.

 

When everyone noticed that Malacañang was never holding any Cabinet Meetings at all (inpossible for any administration anywhere in the world – but the minions were all in agreement and enjoyed traipsing and gathering money all over town) it pretended to hold such meetings. Yet no meetings took place. The supposed leader dictated terms of endearment on how to tastefully, very slowly kill the regime’s enemies. The great idiotic leader cajoled them into filing cases before the artificial pretend cabinet meetings. When the pretend meetings came, he cajoled them further, over and over again like a decrepit record player – but this one spewed saliva all around.

 

This filing of cases – even one against Philippine and World Champion boxer Manny Pacquiao was all part of a masquerade borne of a depraved and diabolic mind.

 

However, it will be near to impossible for these cold hearted and dark spirited creatures to win in any situation, for always crime does not pay.

 

The rule of law always prevails. Even in the situation of powerful banksters ruling the global economy, where they hold sway over all of us small people – the citizens of the world – the tides are already shifting. Soon as not, these fiendish ogres will ultimately get what they deserve: the wrath of the People.

 

No matter how heinous and nefarious the capability of these wicked few in society now lording it over the public coffers and wielding power over the seemingly helpless Philippine society and people, they cannot triumph.

 

 

Even the Secretary General of the United Nations himself was shamed into visiting Tacloban City after all the members of the world community of nations admitted to the fact that the entire league of governments, including that of Aquino’s quisling regime have failed a small chartered city in Eastern Visayas and embarrased itself in the bar of international public opinion.

 

Whatever the U.N. will say to the contrary, if ever, has no use, because the entire world population has spoken: everyone, to the exception of no one, failed the victims of Yolanda. And after all, Mr. Ban Ki Moon like Aquino, is not perfect and absolutely as adequate as unselfish saints and prophets and will not attempt to rationalize the situation nor draw flak any further than he already has.

 

So now we go into the scenario where we have all been lied to with thorough impunity from the Quirino Grandstand fiasco, to the Zamboanga Siege, the Malaysia farce invasion engineered behind the scenes, and all the other violent, harmful conundrum that the pitiful country has been drawn into by these tyrant monsters.

 

The situation is thus:

 

Someone is painfully doing everything very hard to delete a sin in his heart kept for a long time, diluted by substances and chemicals known and unknown, all the sudden staring into empty space, all the impulse to be alone to smoke and smoke and shoot with guns. But the sin will not go away. Instead the sinner will have to go somewhere and leave the place where he does not deserve to be at all.

 

It has something to do with the death of a very young female inside a car that was caught during a running gun battle between soldiers from the Reform the Armed Forces Movement involved in a coup d’ etat in the late 1980s and those defending the government. Her date promised her a “Joy Ride”. It was a Joy Ride that led straight to hell.

 

 

That animal will die someday but this time, that animal has to go and fast. The country never ever had a need for an abnormal creature in that post. Mr. Ricky Monfort shared this article:

THE VERY, VERY SAD DEATH OF PRESIDENT CORY 

The vaunted Dinner in NY pales in comparison with the “Boston Flower Arrangement”

FACTS

Before and during the wake and funeral of the late Madam Corazon Cojuangco AQUINO CORY, it was bruited about that the Filipinos lost a mother, a woman of integrity, an icon, etcetera.

It was said that the death of the late Madam Corazon Cojuangco AQUINO CORY was a great loss to the Filipino nation but it was also an opportunity to use her well talked about popularity to kick out GMA from the presidency, among other possibilities. See the rest of the article here.

Its not true that the guy wants to be President once more after six years. There is no more time left for the guy. He caused the death of an innocent young female and this West Point Academy graduate officer of the Philippine Army, Armed Forces of the Philippines to lose his legs. Even the West Point of the US itself and the parents of and the victim Army officer themselves, are forbidden up to this day to expose the real culprit of that incident where one life was to be sacrificed just because of an insane date in the middle of gun battles raging and a gentleman from West Point Military Academy had to lose his legs. That culprit has to go. If this is not one of the greatest reasons we can never solve in the Philippines, graft, corruption, lying in the face of the public such as a psychologically impaired broadcaster who killed his wife and is instead not restrained from gallivanting freely about and showing his face shamelessly over national television, no other will suffice. It is truly high time for the Pinoy people to take real action. Article Source: The omnibus blog.

So the lying, warmonger beasts believe they can get away with what they are heaping upon the Philippine public, including to some extent those that are living overseas. But that will no longer continue. The sleeping dragon awakened. Now, the balance is tipped. The greater weight in the scales of Lady Justice is now on the side of the hitherto constantly duped, fooled and bamboozled public.

 

From the time of the ascendancy of the forcibly installed ruthless regime up to this time, the dragon might have taken its sweet time to sleep but its waking time. And the reptile is poised to strike at the visible and known enemy. The signs are in the air as they had always been, as the writing on the wall says it will:

 

 

The criminals have to thank the Heavens that the Guillotine has been banned from use. But then again, with an awakened world movement against corruption, they will have nowhere to run nor hide. But for the dragon, the catch is, to make something like this stupendous and grand-scale chicanery never happen again, especially to the blessed Filipino people.

 

The criminals are well-advised, surrender, embrace jail or just plain succumb to suicide. Crime perpetrators, your ball.

 

Source: Power of the People for Change

Post: August 2, 2014

Change not in the horizon over fund scandal

There will be much effort expended in generating change over the PDAF, DAP and Malampaya fund disappearances from the national coffers and their reappearance in the fat bank accounts of thieves in government, especially the Senate and Congress. As it is told in the web journal Post Disaster:

It is difficult to focus on the preparations for the coming nightmare called Yolanda, with a President pretending not to be concerned but pulling strings from all sides to make the sideshow from the haunted CCP-PICC complex a successful zarzuela. A site called omnibusblog called the Senate Hearing that compelled Ms. Janet Lim-Napoles to the witness stand as a mockery of Senate Investigation, instead of devotion to being in aid of Legislation, the writer says it was done in aid of demolition. The site talks about cemetery plots, possible burial grounds for famous legislators and key bureaucrat officials, among other unpleasant figures in society.

An excerpt of the blog article is shown below: 

From the dead to the dead, till death doth us part 

The zarzuela continues. This supposedly “good-intentioned” Senate Hearing, in aid of Demolition, succeeds as a major public relations campaign of world wide magnitude. As a play, the entire production does not rate even a low D grade. It was too transparent to be stage managed, with Madam Janet Lim Napoles talking to her friend-senators as if they were long-lost friends. She does not even use the respectful address of Your Honor and never leads her statements with Mr. Chairman of the Committee.
Madam Napoles was in the Senate at her best element. She even complained that she must be given her free lunch time.

Led by Senators TG Guingona, a known substance abuser and Peter Alan Cayetano, a man insanely driven by the ambition to rise above the person who fed his young models-loving father from the palm of his hand (called Tanda by Sen. Miriam Santiago, ex Judge and former Cory appointee as well as collector of half-million bribe from the lion’s share of undocumented 4 million chinese in the Philippines during the 1986 installed revolutionary regime), the drama goes on attempting to be the best Pitong Komikera-Komikerong Itlog show in this part of the globe.

The lady from Lima was also present, hubnubbing with Sen. Santiago during recess with Sens. Cayetano and Trillanes trading ideas from time to time during the interregnum when the Great Madam money giver to presidents, politicians and bureaucrats and money grubber, in the league of Mr. Zaldy Co and Mr. Edwin Gardiola said Time Out, I Have To Eat Lunch. Missing the action was the real lawyer of Madam, Atty. Fred Villamor, for whom the lady of Lima lawyered for Madam Napoles, being an obedient , willing partner with or without her underwear.

On occasion, at least once or twice, it was mentioned that the famous NGO (non-government organization) and PO (people’s organization) community organizer, Madam Napoles, even used the dead to populate her NGOs and POs. From her probably great gratitude to the dead, she possibly bought beautiful Heritage Park lots for her benefactors – Senators, Presidents, Congresspersons, the President’s top men and women, local officials and national budget bigwigs.

A multi-million several days’ partying and catering marks the visit of Ms. Janet Lim Napoles to the Heritage Park in Global City aka The Fort. The Inquirer reports that the Heritage Park mausoleum dedicated to Ms. Napoles’ mother even became a tourist spot recently after this same newspaper broke the news on the Napoles fund scam. Read more >>

Banking Woes in the Philippines

The article below is from the website of QCFC an advocacy group based in the Philippines for change and reduction of graft and corruption. It is a lament over the lack of sensitivity of the banking sector in the Philippines to the needs of enterprise.

Inevitably, a major revamp, or policy regime change is needed in the banking system in the Philippines as admonished in the site called www.qualitychange.org. There is hardly any more time to waste. The economies of Asia have undergone major upheavals, yet the Philippine economy is still in severe doldrums. The government does not have the political will to spur change, with its penchant for stealing taxpayers’ money for personal aggrandizement.

Politicians maximally utilize persons like Ms. Janet Napoles who divert Philippine peso skims to the United States in suitcases without fear of the Anti-Money Laundering laws, Mr. Zaldy Co (who even ran for Congress himself and won), and many other fund fixers later masquerading as filthy rich financiers (outside of the Forbes List) to steal billions of money from the national treasury.

Much of the thievery is done through the pork barrel – discretionary public funds that are hardly accounted and form part of political accommodations, horse trading between the Executive branch and the Legislative, including the Judiciary.

With a public sector motivated by greed and wanton plunder of the national coffers often with the quiet collusion of members of the banking sector, there is absolutely no way for the government to censure and reform the banking industry simply because it has no moral ascendancy at all.

The Philippine President, Mr. Benigno Simeon Cojuangco Aquino 3rd, does not want the pork barrel to be abolished, as evidenced by his own recent statement over national media in defense of the Disbursement Acceleration Program (DAP) that is a creative new name for pork barrel. Mr. Aquino the 3rd is adamant that he announced the DAP two years ago. Therefore, since the 3rd made a public disclosure of this benign, saintly kind of pork barrel, the spending thereof has to really be just and fair but only for all the horrible looking money making ogres concerned, the 3rd not excluded.

There is nothing in this sanitized, beatified, canonized pork barrel for the small entrepreneurs who need money for developmental projects.

Any intervention that must be done to change the way things are being done in the banking system will be initiated by the citizenry as well as well meaning members of the private sector. The issue is not all about simple patriotism, love for country, but the obligation of the creatures sitting in comfortable niches to return to their host country a share of what they have amassed over the years and decades of siphoning the hard earned money of ordinary people in whose names the Philippine bonds and treasury bills are created, among other debentures that average citizens of the Republic are bound to pay for during their maturity.

No banker will not acknowledge this fact, but they close their eyes due to their all-consuming greed and insatiable lust for more and more money, without looking back to where they came from and who are the source of the incomes they derived from their very expert manipulation of currencies, notes, bonds, bills and all the shit in banking.

Philippines: Every average businessman in this country has to go through the eye of a needle to be accommodated by the banks. Businessman Mr. G. Go, actively engaged in small scale financial services for both big and small entrepreneurs says:

“There is an exception. You can always borrow big amounts from banks but you have to have pedigree. If you don’t have pedigree forget about borrowing big even from the biggest banks. They won’t even look at your loan application. How stupid is that?”

That about translates to this: Bankers look at clients as dogs, cats and cows. Those with pedigree are instantly good clients. and must be given service de luxe and with haste. Those without are immediately considered bad clients and cannot be serviced for big transactions ever.

In Masinag, an officer of RCBC Savings Bank, Ubaldo Sadiarin would go out of his way to offer something to drink to all his visiting customers. Mr. Sadiarin cannot look at his clients as animals, since animals normally don’t take coffee, black, with or without sugar or milk. This banker does not only offer coffee, tea or juice. He painstakingly helps you obtain your loan and helps you be able to access the money at the fastest possible time. The fellow must not be the ordinary, brain damaged banker. However, this trait of said banker should not impel his own banking institution to think ill of him. In fact this bank manager should be pirated by the Department of Finance or the Bangko Sentral ng Pilipinas.

Bangko Sentral ng Pilipinas

Except for Maybank Philippines, very few banks through their run-of-the-mill branch managers, mid-level officers and workers will even offer you water, juice or coffee. How much more a big loan?

Among the brainless, idiotic and impractical policies of banks is imposing quota performance on their bank managers. Whereas there is very meager creativeness among many top bank management officials in promoting their respective bank product brands, to attract clientele, this strict policy of quota is ruthlessly rammed upon the throats of the helpless bank managers and all the bank workers below these managers.

This leads to the great inadequacy of the banking system in pump priming of the economy through the promotion of brisk and dynamic exchanges between and among local business as well as with the rest of the world.

Such a noteworthy posture could be done by not limiting the distribution of the bulk of bank investments, credit, to billionaires like Andrew Tan, Henry Sy, Lucio Tan, Jaime Ayala, Eduardo Cojuangco, Eugenio Lopez, Ramon Ang, Washington SyCip, John Gokongwei, or big time criminal thieves like Janet Lim Napoles, Zaldy Co, jueteng collectors Yolanda Ricafort, Tony Santos, notorious drug dealers like the Lim clan of Malabon-Navotas of the Chinese Triad, Li Lan Yan aka Jackson Dy, Li Tan Hua, Hanson Young (ordered killed by his Chinese Godfather Mr. Stephen Hui while in police detention) among many other dregs of society.

Preferred clients therefore are billionaires, criminals, jueteng collectors, drug lords – not necessarily in that order. Certainly, there are Senators, Senate fixers, Congressmen, Batasan complex arrangers, Governors and their Vice, Mayors and Vice, Board Members, Barangay Chairmen and Boards, appointed officials among a few other money grubbing species.

Gallery of favored bank clientele:

Philippine Billionaires

Drugs Money, Jueteng Money from Yolanda Ricafort, Atong Ang,

Charing Magbuhos, and some from drug lords shown below

Drug Lord Li Lan Yan aka Jackson Dy

Drug Lord Li Tan Hua, son of a Chinese General

Most certainly, there is no need to justify the extremely laughable overriding need to meet headquarter’s quota for each and every bank branch manager to merely accommodate deposits, loan applications and other bank requirements from big businessmen and criminals alike at the expense of allowing the majority of transactions in the country to proceed with a positive momentum and spur the economy onwards.

The all-consuming greed of bank founder-owners has given birth to the cross-eyed policies constricting the Philippine banking system. This kind of pernicious culture has even pervaded onto the rural banks and thus created misery after misery from the metropolis to the countrysides.

Therefore, instead of promoting business and helping entrepreneurs to shine, the Philippine banking community has an invisible declaration of war against any businessman who registers his or her enterprise – if and when that hapless creature does not have the pedigree of billionaires, drug lords, jueteng lords, big time thieves of government taxes, among many other obnoxious animals. The big question is why the Philippines’ Department of Finance, Bangko Sentral ng Pilipinas and the entire economic cluster of the public sector as a whole, would not lift a finger to change this kind of situation.

Whatever functions the Department of Finance assigns to its officers, it is admonished that before the Philippines slides down to the lowest ranking in world economies or the country experiences more and more difficulties with the onslaught of unnatural occurrences like shortages and devastations from disasters like the Boholindol – Cebulindol, gestures with a semblance of bringing reforms to the banking sector should be started as soon as possible.

No self-respecting public sector finance agency in the age of the AMLA should allow this lopsided situation where only billionaires, drug lords, gambling lords and thieves are given preferential treatment. The time for best banking sector practices should be put in place is long overdue. While it is not quaint to say the planet, the entire globe is too unstable for the country to expect to survive the next few hundred years, the worst that could happen without reforming the unfair practice of bankers in the Philippines is for the country to perpetually be a supply economy.

As it is, even our human resource is being supplied all over the world and very few complain.

There is no rice to export, no trees and forests to log over, little trickles of gold to mine with the banks benefiting from all the harvest without giving back good banking service to their host: the people of the Philippines. That includes the entrepreneurs within the population.

The credit cards Metro Bank and foreign credit institution VISA, (e.g. Unionbank Prepaid Visa, BPI Prepaid, PNB Prepaid, PSBank Prepaid, Security Bank Prepaid among many others) promotes credit that is already prepaid before you spend a cent for purchases.

A large number of law firms and collection agencies all over the country have benefited up to 45% commissions share for recovering long lost debts for credit card companies and banks.

The question is, when all over the world especially in the US Army, people start shying away from using credit cards because it buries one in serious perpetuating debt burdens, more if you are not scion or heir to the tycoons in Forbes’ List, Philippine banks are obsessed with selling that product: the plastic money.

And 99% of members of the Bankers’ Association of the Philippines are racing against each other in selling insurance and pension plans without letting the entrepreneur class to succeed. These locos must have lard as brains.

Why can’t the Philippines’ bankers offer various products, differing types of credit and pretend their bank managers understand how to use the SWIFT transmission, letters of credit, bank guarantees, term notes, and all other kinds of debentures without concentrating only on the Philippine Government as creditor?

Banks buy and buy treasury bills, government bonds and rediscount the bills and bonds at a fat profit but they cannot lend back with a smile to the people of this country.

The Philippine banking system cannot perpetuate this kind of situation where the only valued customers are the rich, the close friends and relations of bankers, lumped together with the drug lords, public fund thieves (Janet Napoles, Zaldy Co, et al), jueteng lords and other criminals.

This is not a country only of billionaires, millionaires, friends and bankers’ close relations as well as the shit, waste and rejects of society such as heinous criminals. This is a country of nearly 100,000,000 Filipinos with millions of enterprising ones engaged in business in both the formal and informal economies of scale.

Colombia and Mexico of the famous illegal drugs, Switzerland, Singapore, Hongkong and the Caymans, among a few other havens of those with money that are mostly dirty and stained with the blood of millions, may be thriving from accommodation of unclean funds but the banking communities in these places do not necessarily just favor the Sys, Tans Ayalas, and their ilk, or their counter parts in the Underworld. They service legitimate businessmen more than the Philippine banking system does and do help their economies to grow, one way or another.

Thus there must be loose screws somewhere in the brains of the owner-founders of our local banks for they cannot foresee a Philippines with a thriving entrepreneur class, vibrant and alive, competing with the rest of the world while offering Filipino-style world class products and services.

As the website www.qualitychange.org declares:

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.

The simple equation in this situation ultimately involves government and the people. If small entrepreneurs decide to boycott the entire Philippine banking sector, there will be a small dent on the earnings of the sector. With the interlinked interests of those at the top levels of government and the banking system, the public sector cannot give up easily on its support for the banking industry. But a compassionate government will at least admonish the bankers that a sufficiently acceptable new tack should be taken to uplift the economy much, much higher than its present peak performance.

Something has to give and it has to be soon. The Philippine government must become more responsive to the needs of the entrepreneurs of this country so that revenues coming therefrom will improve. And show a little more compassion to its constituents instead of completely being devoid of it for the sake of mindless smoke belching and skirt chasing.

When the floodgates open sometime soon enough, it will be difficult to stem the tide.

As it is, natural phenomena have wrought untold disasters in this nation of beautiful and hospitable people. Together with man-made disaster, bankers will have no safe place to turn to. Furthermore, no banker can take his money or his safety vault to the grave, unless his resting place in his hole six feet below the ground is spacious enough to accommodate his riches.

Then again, the so-so practical-minded bankers will simply fart and twit the question: So if I’m dead, who cares? I lived a great Life fully as a Banker and I am happy. If I go, I go. That’s how it is. Then Mr. and Ms. Banker excretes just a teeny weeny little sweat and a foul sigh, and its over for the worry.

If all Philippine Bankers are like that, do you really have to place your trust therein ever if they treat you like shit and wouldn’t change their view towards you unless you joined the league of Forbes Lists and the Underworld?

Related articles:

Assessment of the problems of the Philippine financial sector
Issues and challenges facing the banking sector

Speed up reforms – World Bank tells Philippines

QCFC – Philippine Banking Sector Must Reform

Philippines: Every average businessman in this country has to go through the eye of a needle to be accommodated by the banks. Businessman Mr. G. Go, actively engaged in small scale financial services for both big and small entrepreneurs says:

“There is an exception. You can always borrow big amounts from banks but you have to have pedigree. If you don’t have pedigree forget about borrowing big even from the biggest banks. They won’t even look at your loan application. How stupid is that?” 

That about translates to this: Bankers look at clients as dogs, cats and cows. Those with pedigree are instantly good clients. and must be given service de luxe and with haste. Those without are immediately considered bad clients and cannot be serviced for big transactions ever. Click here for the rest of this article.

Bangko Sentral ng Pilipinas

Gallery of favored bank clientele:

Philippine Billionaires

Drugs Money, Jueteng Money from Yolanda Ricafort, Atong Ang,

Charing Magbuhos, and some from drug lords shown below

Drug Lord Li Lan Yan aka Jackson Dy

Drug Lord Li Tan Hua, son of a Chinese General

Philippine Banking System Reforms

Philippines: Every average businessman in this country has to go through the eye of a needle to be accommodated by the banks. Businessman Mr. G. Go, actively engaged in small scale financial services for both big and small entrepreneurs says:

“There is an exception. You can always borrow big amounts from banks but you have to have pedigree. If you don’t have pedigree forget about borrowing big even from the biggest banks. They won’t even look at your loan application. How stupid is that?”

That about translates to this: Bankers look at clients as dogs, cats and cows. Those with pedigree are instantly good clients. and must be given service de luxe and with haste. Those without are immediately considered bad clients and cannot be serviced for big transactions ever.
In Masinag, an officer of RCBC Savings Bank, Ubaldo Sadiarin would go out of his way to offer something to drink to all his visiting customers. Mr. Sadiarin cannot look at his clients as animals, since animals normally don’t take coffee, black, with or without sugar or milk. This banker does not only offer coffee, tea or juice. He painstakingly helps you obtain your loan and helps you be able to access the money at the fastest possible time. The fellow must not be the ordinary, brain damaged banker. However, this trait of said banker should not impel his own banking institution to think ill of him. In fact this bank manager should be pirated by the Department of Finance or the Bangko Sentral ng Pilipinas.

Bangko Sentral ng Pilipinas

Except for Maybank Philippines, very few banks through their run-of-the-mill branch managers, mid-level officers and workers will even offer you water, juice or coffee. How much more a big loan?
Among the brainless, idiotic and impractical policies of banks is imposing quota performance on their bank managers. Whereas there is very meager creativeness among many top bank management officials in promoting their respective bank product brands, to attract clientele, this strict policy of quota is ruthlessly rammed upon the throats of the helpless bank managers and all the bank workers below these managers.

This leads to the great inadequacy of the banking system in pump priming of the economy through the promotion of brisk and dynamic exchanges between and among local business as well as with the rest of the world.

Such a noteworthy posture could be done by not limiting the distribution of the bulk of bank investments, credit, to billionaires like Andrew Tan, Henry Sy, Lucio Tan, Jaime Ayala, Eduardo Cojuangco, Eugenio Lopez, Ramon Ang, Washington SyCip, John Gokongwei, or big time criminal thieves like Janet Lim Napoles, Zaldy Co, jueteng collectors Yolanda Ricafort, Tony Santos, notorious drug dealers like the Lim clan of Malabon-Navotas of the Chinese Triad, Li Lan Yan aka Jackson Dy, Li Tan Hua, Hanson Young (ordered killed by his Chinese Godfather Mr. Stephen Hui while in police detention) among many other dregs of society.

Preferred clients therefore are billionaires, criminals, jueteng collectors, drug lords – not necessarily in that order. Certainly, there are Senators, Senate fixers, Congressmen, Batasan complex arrangers, Governors and their Vice, Mayors and Vice, Board Members, Barangay Chairmen and Boards, appointed officials among a few other money grubbing species.

Gallery of favored bank clientele:

Philippine Billionaires

Drugs Money, Jueteng Money from Yolanda Ricafort, Atong Ang,

Charing Magbuhos, and some from drug lords shown below

Drug Lord Li Lan Yan aka Jackson Dy

Drug Lord Li Tan Hua, son of a Chinese General

Most certainly, there is no need to justify the extremely laughable overriding need to meet headquarter’s quota for each and every bank branch manager to merely accommodate deposits, loan applications and other bank requirements from big businessmen and criminals alike at the expense of allowing the majority of transactions in the country to proceed with a positive momentum and spur the economy onwards.

The all-consuming greed of bank founder-owners has given birth to the cross-eyed policies constricting the Philippine banking system. This kind of pernicious culture has even pervaded onto the rural banks and thus created misery after misery from the metropolis to the countrysides.

Therefore, instead of promoting business and helping entrepreneurs to shine, the Philippine banking community has an invisible declaration of war against any businessman who registers his or her enterprise – if and when that hapless creature does not have the pedigree of billionaires, drug lords, jueteng lords, big time thieves of government taxes, among many other obnoxious animals. The big question is why the Philippines’ Department of Finance, Bangko Sentral ng Pilipinas and the entire economic cluster of the public sector as a whole, would not lift a finger to change this kind of situation.

Whatever functions the Department of Finance assigns to its officers, it is admonished that before the Philippines slides down to the lowest ranking in world economies or the country experiences more and more difficulties with the onslaught of unnatural occurrences like shortages and devastations from disasters like the Boholindol – Cebulindol, gestures with a semblance of bringing reforms to the banking sector should be started as soon as possible.

No self-respecting public sector finance agency in the age of the AMLA should allow this lopsided situation where only billionaires, drug lords, gambling lords and thieves are given preferential treatment. The time for best banking sector practices should be put in place is long overdue. While it is not quaint to say the planet, the entire globe is too unstable for the country to expect to survive the next few hundred years, the worst that could happen without reforming the unfair practice of bankers in the Philippines is for the country to perpetually be a supply economy.
As it is, even our human resource is being supplied all over the world and very few complain.
There is no rice to export, no trees and forests to log over, little trickles of gold to mine with the banks benefiting from all the harvest without giving back good banking service to their host: the people of the Philippines. That includes the entrepreneurs within the population.
The credit cards Metro Bank and foreign credit institution VISA, (e.g. Unionbank Prepaid Visa, BPI Prepaid, PNB Prepaid, PSBank Prepaid, Security Bank Prepaid among many others) promotes credit that is already prepaid before you spend a cent for purchases.
A large number of law firms and collection agencies all over the country have benefited up to 45% commissions share for recovering long lost debts for credit card companies and banks.
The question is, when all over the world especially in the US Army, people start shying away from using credit cards because it buries one in serious perpetuating debt burdens, more if you are not scion or heir to the tycoons in Forbes’ List, Philippine banks are obsessed with selling that product: the plastic money.
And 99% of members of the Bankers’ Association of the Philippines are racing against each other in selling insurance and pension plans without letting the enterpreneur class to succeed.
These locos must have lard as brains.
Why can’t the Philippines’ bankers offer various products, differing types of credit and pretend their bank managers understand how to use the SWIFT transmission, letters of credit, bank guarantees, term notes, and all other kinds of debentures without concentrating only on the Philippine Government as creditor?
Banks buy and buy treasury bills, government bonds and rediscount the bills and bonds at a fat profit but they cannot lend back with a smile to the people of this country.

The Philippine banking system cannot perpetuate this kind of situation where the only valued customers are the rich, the close friends and relations of bankers, lumped together with the drug lords, public fund thieves (Janet Napoles, Zaldy Co, et al), jueteng lords and other criminals.

This is not a country only of billionaires, millionaires, friends and bankers’ close relations as well as the shit, waste and rejects of society such as heinous criminals. This is a country of nearly 100,000,000 Filipinos with millions of enterprising ones engaged in business in both the formal and informal economies of scale.

Colombia and Mexico of the famous illegal drugs, Switzerland, Singapore, Hongkong and the Caymans, among a few other havens of those with money that are mostly dirty and stained with the blood of millions, may be thriving from accommodation of unclean funds but the banking communities in these places do not necessarily just favor the Sys, Tans Ayalas, and their ilk, or their counter parts in the Underworld. They service legitimate businessmen more than the Philippine banking system does and do help their economies to grow, one way or another.

Thus there must be loose screws somewhere in the brains of the owner-founders of our local banks for they cannot foresee a Philippines with a thriving entrepreneur class, vibrant and alive, competing with the rest of the world while offering Filipino-style world class products and services.

As the website www.qualitychange.org declares:

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.

The simple equation in this situation ultimately involves government and the people. If small entrepreneurs decide to boycott the entire Philippine banking sector, there will be a small dent on the earnings of the sector. With the interlinked interests of those at the top levels of government and the banking system, the public sector cannot give up easily on its support for the banking industry. But a compassionate government will at least admonish the bankers that a sufficiently acceptable new tack should be taken to uplift the economy much, much higher than its present peak performance.

Something has to give and it has to be soon. The Philippine government must become more responsive to the needs of the entrepreneurs of this country so that revenues coming therefrom will improve. And show a little more compassion to its constituents instead of completely being devoid of it for the sake of mindless smoke belching and skirt chasing.

Related articles:

Assessment of the problems of the Philippine financial sector

Issues and challenges facing the banking sector

Speed up reforms – World Bank tells Philippines