UP Ibalon Bicol: wealth

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Transparency for RP, but not for GMA’s unexplained wealth?

8/13/2009 | Posted by mesiamd | Edit Post

After splurging in lavish dinners with her entourage abroad that had price tags close to $15,000 to $20,000(P750,000-1,000,000,) Pres. Gloria Arroyo’s assets an liabilities have been under close scrutiny.

The Philippine Center of Investigative Journalism (PCIJ) say since her assumption of office, the president has accumulated properties 2000x than their original value. In spite of the over-hyped call for honesty and transparency by the administration, the lawyers of GMA and her husband, Jose Miguel Arroyo, don’t see the need to explain how the couple amassed such wealth. But obviously, the people want to know.

Corruption is the centerpiece of why the Philippines is mired in poverty, but even the president fails to follow the leads to know the extent government corruption! The public sees a collusion by the leadership to keep the status quo of defrauding the country. The “scratch my back, and I’ll scratch your back culture” is at work here----so almost no one gets caught; the few who are proven thieves are pardoned.

“A report by the PCIJ said Mrs. Arroyo’s declared net worth more than doubled from P66.8 million in 2001 to P143.54 million in 2008. The increase of P76.74 million represents a growth rate of 114 percent. If her SALNs were plotted from the time she was still senator 17 years ago, the rise in her wealth would have been 2,000 percent, according to PCIJ.”-----Philstar (08/13/09)

This questionable rise in assets of a politician in power is not uncommon. The accusations of theft, corruption, fraud, and abuse in government are pervasive even if there are laws that can be used to get into the bottom of the truth. It dates back since Marcos time whose descendants are inching for a come-back, hiding under the rug the outrageous graft and corruption of their parents.

In spite of calls for President Arroyo to comply on the Republic Act 6713 or the Code of Conduct and Ethical Standards for Public Officials and Employees which when violated is punishable by imprisonment, fines, dismissal or suspension, just like any slicky politician, GMA allows the foul odor in her record to pester. It’s a common reaction of corrupt politicians to pretend nothing odiously bad is going on.

Arroyo’s discordant lifestyle and wealth are incompatible to her salary as president. She receives a measly Php 60,000.00 (about USD 1,333.33 at Php 45.00 to 1 USD exchange rate) monthly. The US president’s salary at about $400,000/year is about 3,000% higher. Therefore, there is always a good reason to compute and recompute how GMA came up with her assets in so short a time. Obviously, this goes true with other politicians who dodge showing the money trail of their wealth.

GMA's business interests, if laid bare are not hard audit. If there is any, let investigators see where the conflict of interest lies, which transactions she did in accord with the law or where fraud occurre which may explain why she and her friends have become so rich.

The stonewalling by the president and her husband to conceal the truth has caused despair and loss of credibility; it makes her a pariah of the people. At the waning days of her presidency come along, her job approval is poor---among the lowest a president ever received in tenure.

The furor resulting from her extravagance abroad and clever machinations is deplorable and very much compatible with corruption. It's contemptible. There is obvious failure of the checks and balances in the system. It’s time that Arroyo comes clean from the disgusting accusations which plague her leadership. (Photo Credit: sunnexfo) =0=

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Labels: Corruption, extravagance, graft and corruption, honesty, money, morality, PCIJ, Philippine Center of Investigative Journalism, Pres. Gloria Arroyo, salary, scandal, Totie Mesia, Transparency, wealth

Claiming poverty, Imelda Marcos seeks the return of her P15 billion jewels

6/16/2009 | Posted by mesiamd | Edit Post

After complaining that she is dirt poor, Imelda Marcos demands that the Presidential Commission on Good Government (PCGG) return her P15 billion jewel collection confiscated from her during her husband’s fall from power. Mrs. Marcos is seeking the gem collection which was taken from her by the government as part of her accumulated ill-gotten wealth.

The PCGG divided the jewelry collection into three: The Malacañang collection, which includes pieces confiscated from the Palace after the Marcos family fled from the People Power revolt in 1986; the Hawaii collection seized by the American Customs; and the Roumeloites collection that the Bureau of Customs seized from a Greek national.---PDI (06/15/09, Torres, T; Tandoc, E. Jr.)

In 2007, the PCGG planned to auction the state-sequestered assets to bring about P30 billion for the government, but such plan did not materialize. Government authorities who for more than 20 years did not rule on the timely disposition of the jewelry are just about to study if the valuables should rightfully be returned to Marcos. (Photo Credit: newsflash.org) =0=

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Labels: auction, Corruption, graft and corruption, Imelda Marcos, jewelry, PCGG, Presidential Commission on Good Government, Totie Mesia, wealth

UP Ibalon Bicol

Transparency for RP, but not for GMA’s unexplained wealth?

Claiming poverty, Imelda Marcos seeks the return of her P15 billion jewels

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