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.

Monday, March 14, 2005

RP Senate - Privileged Speech

Sen. Nene Pimentel is giving a speech on the CB Circ 392 debate at 4 pm today. We understand that Sen. Serge Osmena may lead the interpellation. Readers may want to verify the information that we've received that the BAP has given its side of the story to Sen. Osmena.

However the oppositors get their points across to the Senate on the position I've repeatedly stated (that RoSS can meet and exceed what the BSP needs by way of investor protection), we are achieving the debate that Circ. 392 sorely needed.

The oppositors may claim that the use of the privileged speech is uncalled for and that the Senate is not the forum to discuss capital market issues, however, we trust that the Senate debate can also re-examine the solemn duties and responsibilities that all public servants are trusted and sworn to uphold.

In my case, I saw it as my duty to perform a diligent study of what was being asked of me by my bosses at DoF, the BSP, and the BAP in the case of 3rd party custody.

To question when I did not understand, to make helpful recommendations whenever I could, and above all, to ensure that the Bureau faithfully executed its appointed responsibilities; these were my duties.

I leave it to the readers to form their own judgements regarding the assertions that this site has been sowing disinformation and half-truths. Some three weeks ago, I seem to remember that I was being painted in the media as an obstructionist, a non-team player, a lackey of a supposed dealers cartel, or all of the above.

5 Comments:

Anonymous Anonymous said...

Sen. Nene Pimentel hits it right where it hurts. Thank you Senator for standing up for what is good for the Filipino people. Please do not be fooled by the flowery words of BSP - its really the billions behind these words that gave them away.

In the end, history will judge them accordingly... and history will only be kind to those who cared so much and to those who fought justly for our beloved country.

More power to you and Ms. Nina Lasala!!

Please read entire speech at http://www.abs-cbnnews.com/NewsStory.aspx?section=NATIONAL&oid=70161

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