3:38 am ET
Sep 18, 2013

central banking

Philippines’ Turnaround More Than Just Battle vs. Graft

    • These are the three reasons I think why foreign investors are investing in Philippines:
      1. The economic policies implemented by former president Gloria Macapagal Arroyo. But thanks to president Aquino for continuing it.
      2. US military base. Foreigners feel safe with the presence of the US military. Credit to President Aquino
      3. Filipinos attitude in going after the corrupt officials. It's the people who are turning around the country's corruption in government and not president Aquino.

      Saying that president Aquino is sincere about corruption is a crap: These are reasons from the current events only; excluding Hacienda Luisita and his time in Congress and Senate as a sitting duck:
      1. The current pork barrel scandal was initiated by the whistleblower and not the government. The president hesitated to prosecute the mastermind for weeks only until the people rally is growing in numbers.
      2. The former chief justice Renato Corona before he was impeached (of course he will be impeached because majority in congress and senate are president's allies) challenged all government officials to sign a waiver to open up their accounts. All the chief justices, many in the oppositions and few from the allies have signed waivers but the president and his allies declined.
      3. Who has he prosecuted so far? Only former president Gloria Macapagal Arroyo and former chief justice who constitutionally ordered the Cojuancos to return the Hacienda Luisita back to the government.. Both were not proven guilty of graft and corruption. President Aquino offered a deal to the former president that if only she admits the allegations then she will be saved from being arrested. But of course she will not accept any deals. They charged her with many plunder cases, few were dismissed already due to lack of evidence and the rest of her trials will not commence until the government has enough evidences. But what the heck, as long as she's behind bars, she looked like a criminal.
      4. Many were wondering why nobody from his allies were being investigated in graft and corruption?
      5. Pork barrel is the root cause of corruption in the government, the vice president, many from the oppositions and some allies have given up their pork barrel already saying it's a temptation, then why president Aquino and his allies cannot give up their pork barrels?

      He is the president and has the power to stop this pork barrel system, If he does then he'll do great for his country.

    • Philippines is like Singapore right now. In Singapore, the government owns the media. In Philippines the Cojuancos and their relatives own or co-own the main medias in the country. The current president is a Cojuanco.

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