Hi! I am Nina Lasala, former Treasurer of the Philppines. This blog is meant to be an open forum for investors, fellow finance professionals, and other interested parties to discuss the state of Philippine Debt Management.

Tuesday, March 01, 2005

Better late than never - a message from fmr. Treasurer Sergio Edeza

I got this text message on my cellular phone late this afternoon from my predecessor in my post as Treasurer as well as my former colleague at the Central Bank, Sergio Edeza. While at times, I must admit that my embattled position has been a lonely struggle, Mr. Edeza's text is a most welcome and warm gesture. Many thanks!!!!!!


---SMS Text Message in Full---

"Hi Nina, Omar would like to meet u tom at 9 am. I explained the issues related to 3rd party custody. He wants to talk to you. By the way I also talked to Say Tetangco and told him I am against the Fixed Income Exchange. I also told Mr. Virata that I am against it. "

---end of text message---

18 Comments:

Anonymous been there . . . said...

We need more practitioners to speak out their thoughts re. the PDEx. Realize that the few that have done so in the past have been "muzzled" one way or another.

Hats off to Boy Edeza for having the fortitude to make his toughts known to those that had a hand in MANDATING the system to the market.

Stay the course Nina - there are a lot of us behind you - a few more vocal than others.

8:26 AM

 
Anonymous Anonymous said...

It is just so unfortunate that people do not speak up at the time when their voices are very critical and very much needed. I had always admired people who will stand up for what is morally right even at the expense of their career and life. Kudos to Ms. Lasala. Indeed you are truly a person who should serve the government. We need people like you and your team.

9:29 AM

 
Anonymous Anonymous said...

This text of Mr. Edeza is no longer appreciated because during the fight of TOP Lasala nobody sided her position. It seems that heroism and patriotism are not recognizable by our elected officials whom we entrust our future and that of our children. Is it true that money rules the values of our countrymen? There are no only few Lasala's in this world and I salute this woman of integrity for her courage and bravery to expose this greediness. GOD is with you MADAM, the battle is not ours but with the Lord Jesus Christ our Lord and Saviour. Mabuhay Ka!!!

9:31 AM

 
Blogger betterphil said...

Boy Edeza's comment just strengthens the stand against FIE. You and Boy certainly would know what you are both talking about. Stay the narrow path, Ms. Lasala. We are praying for you and our country.

10:03 AM

 
Anonymous Anonymous said...

now that you are no longer our treasurer, the market will continue to back you up in ensuring that the capital markets of the country remain vibrant.

it does read like a bad conspiracy when the new treasurer, without even going over the issues, already expressed that he is going to uphold the two circulars.

stay the course Nina! keep in mind that Blogs can be very powerful tools in shaping public policy, at least it has been proven to do so for people in the US.

you should be commended for showing people the truth! you took the high ground by presenting documents and pure facts and not once gave your personal opinions.

it is a shame that the nobody in the press picked up the REAL story. they are all a bunch of PAID HACKS anyway.

i wish you and your family well! May God shower you with blessings for doing what is RIGHT.

11:40 AM

 
Anonymous Anonymous said...

BALONEY TO EDEZA'S TEXT!!! DON'T BELIEVE HIM, NINA.L I THINK HE IS JUST TRYING TO MOLLIFY YOU. HE WAS TREASURER FAR LONGER, HOW COME HE NEVER SAW THROUGH THE SCHEME HA??? WHAT MADE HIM SUDDENLY SEE THE LIGHT HA? HE COULD HAVE DONE SOMETHING ABOUT THAT SCHEME WHEN HE WAS TREASURER AND HE DIDN'T!!! ITS TOO LATE NOW FOR HIM TO SAY THAT. I HOPE HE REALIZES THAT BY FAILING TO TAKE A STAND AGAINST THIS BSP-FORM OF CORRUPTION HE HAS ACTUALLY BEEN AN ACCOMPLICE. HE IS JUST AS BAD AS THEM ALL, IF NOT WORSE. DON'T BUY WHAT HE SAYS. BEWARE OF HIS SMOOTH TALK-- HIS DUPLICITY. DO NOT BE TAKEN IN BY HIS PHONY OVERTURES!!!

4:13 PM

 
Anonymous Anonymous said...

Because Boy like Mina after him and Nina after her was kept in the dark by the axis of evil that planned the third party custody regulations...

9:15 PM

 
Anonymous Intramuros said...

Kaninang hapon, dumating na po ang bagong Tresorero ng Pilipinas, si Ginoong Cruz sa aming tanggapan dito sa Intramuros.

Sinamahan po siya ng aming dating Tresorero Sergio Edeza na hindi naman nagtagal at umalis din agad-agad.

Kaiba po itong pagpalit ng aming mga pinuno. Nalulungkot po ako dahil na hindi na siguro matiis ni Ginang Lasala na magtagal pa para salubungin si Mr. Cruz. Nagligpit na siya ng kanyang kasangkapan at gamit kaninang umaga. Sa tingin ko lang masyadong masakit ang mga pangyayari ng nakaraang dalawang buwan para magtagal pa at hintayin si Ginoong Cruz.

Akala po namin na responsibilidad naming lahat bilang taga-gobyerno na gawin ang nakakabuti para sa marami at maging maingat at bukas sa lahat ng tao ang pagpapatupad ng aming mga tungkulin.

Ang turo po sa amin ay suriin ng husto ang lahat ng mga isyu tulad nitong third party custodian bago magpasiya at gumalaw.

Akala po namin na tama lang na maingat si Gng. Lasala. Nguni't ni ha, ni ho, pinalitan po siya ni Kalihim Purisima at mukhang hindi man binigyan siya ng pagkakataong magpaliwanag.

Ngayon lang naming nauunawaan na malaking pera pala ang maaring kitahin ng mga bangkong custodian. At ngayon lang namin na nakikita na maraming malaking tao ang nagtutulak nitong proyekto.

Ngayon, ang aming bagong Tresorero, kung ating paniniwalaan ang mga pahayagan, ang sugo o utusan ng pribadong sektor para maipatupad sa lalong madaling panahon itong kontrobersyal na 3rd party custodian.

Nalulungkot ako dahil sigurong mas maayos pang tratuhin ng mga malalaking taong ito ang kanilang mga katulong kaysa sa pagtrato nila kay Gng. Lasala. Nalulungkot din ako na siguro naman na maraming sumasang-ayon kay Gng Lasala sa industriya, kahit mga kaibigan niya lang, ano po???. Nguni't walang naglakas loob para ipagtanggol ang kanyang panindigan at sila'y naging pipi at nagbingi - bingihan.

10:02 PM

 
Anonymous Anonymous said...

This comment has been removed by a blog administrator.

12:51 PM

 
Anonymous Anonymous said...

Beware of the werewolf!!

I am not sure if Mr. Edeza really means what he said to Ms. Lasala. You know there are those people who changes faces overnight. I heard that Mr. Edeza is present when Mr. Cruz took his oath as the new treasurer. I also heard that he accompanied Mr. Cruz on his first day at the BTr... the next day Mr. Edeza's former staff were reassigned to Mr. Cruz. Is he flip-flopping or what! Balita ko, malaki ang pasuweldo sa mga custodians at kompleto pa pati pa-Jaguar?

Just like what is mentioned in one of the comments, Mr. Edeza did nothing in BTr to even discourage such move by BSP. I heard that what he did was to give his staffs permanent positions, when traditionally, these positions are filled up co-terminus with the treasurer. That is to give every incoming treasurer a free hand to bring in his/her staff. He appointed an Admin Director(who is not a CESO holder) who was more than willing to put in their relatives and friends including Mr. Edeza's sister-in-law? who I heard was only PG 11 at another govt agency and was offered PG 20 in BTr... insulting the probably more than 500 BTr employees with PG 11-19 who seemed to be incompetent and unqualified to be promoted to the said position.... and that is during the Government said stop hiring new employees to help lessen the budget deficit. Her papers were suddenly rushed before Ms. Figueroa left. What a move!! Parang immoral yata yon a!!

I heard that the Admin Director later demoted herself when Ms. Figueroa resigned suddenly, probably afraid that Ms. Figueroa's successor will not renew her appointment as it is only on temporary status.

Ms. Lasala is God-sent to end the injustices... mga pang-aapi sa mga ordinaryong mga kawani ng BTr na nagsisilbi ng buong tapat sa gobyerno.

Certainly, Ms. Lasala do not deserve the nasty treatment she got from the Government. She deserve all the praises she is getting now. When she speaks, I can only think of Ms. Corazon Aquino! Maka-Diyos, makatao at makabayan.... and she knows her job well!! GMA has made another blunder this time. She lost an honest and a very good employee... Its a loss to all of us poor Filipinos.

Good luck to you Madame Treasurer. I am sure maraming tutulong sa iyo na mga natitira pang TAPAT AT TUNAY na Pilipino sa laban mo na ito. Hindi ka nag-iisa.

This country still has a chance while people like you are still around.

2:23 PM

 
Anonymous Anonymous said...

I believe its high time for Mr. Edeza to mind his own business.....haaay......please mr. edeza...be concerned with the BTR people naman.....dami mo na nga naipasok dito na friends and relative mo e....ayaw mo pang maging concern sa ROSS operation kahit minsan lang.

3:41 PM

 
Anonymous Anonymous said...

Yes, really. I agree with told all above.

12:47 AM

 
Anonymous Moorhead Savage said...

It's great to hear about people who are interested in tackling Philippine's debt situation, a great use of the internet to share ideas. People and countries all over the world have created too much debt and now we need to start making cuts and reductions where possible, to protect the futures of our children and the next generation.

10:43 PM

 
Anonymous Manila real estate said...

I hope to see a more positive solution that will help resolve the problems regarding the National debt. Let's work hand in hand for the progress of our country.

12:23 PM

 
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7:17 PM

 
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