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.

Thursday, April 14, 2005

Coincidence or Under the Influence

For all of you guys who participated in the survey, here is a chance to validate your gut instincts. Obviously, all of you were expressing an opinion or a judgement based on what you have read so far. It is now your chance to comment on these documents that I am posting for you to decide for yourselves whether your instincts were correct or not. You be the judge!

Coincidence or Under the Influence - Item 1 of 4 Posted by Hello


Coincidence or Under the Influence - Item 2 of 4 Posted by Hello


Coincidence or Under the Influence - Item 3 of 4 Posted by Hello


Coincidence or Under the Influence - Item 4 of 4 Posted by Hello

19 Comments:

Anonymous Anonymous said...

Whoawhat???

You mean the president of the third party custodian was the mystery writer of BSP circular 392???

Little wonder we're in this mess!
Kaawa-awa naman ang Pilipinas. Nagkapalit-palit na ng mga mukha ang mga economic team members niya.

3:15 PM

 
Anonymous DUMBO BANKER said...

This really makes me soooh MAD!

That explains why these guys whose duty it is to safeguard the interest of the public are the very ones bringing it to ruin. Their roles are already confused.

Who is there to trust?

That makes their act so reprehensible because theirs is a public trust. AND FOR US WHO NOW HAVE KNOWLEDGE OF THEIR DEED, WHAT ARE WE DOING ABOUT IT?

GRRRRR. . .

3:25 PM

 
Anonymous Anonymous said...

Are you serious? This is supposed to be good for the country? I must be dumber than dumbo banker because I am really not getting it.

Didn't someone in PDEx mention that there is conflict of interest when a bank keeps custody of its customer's securities? Isn't that their justification for 392?

Perhaps Mr. C should deliver his compensation package to a third party custodian to avoid conflict of interest.

8:52 PM

 
Anonymous Anonymous said...

Ang galing talaga ng President ng third party custodian for BSP to take him word for word on BSP Circular 392?
O talagang walang alam ang nandun sa BSP?
O baka naman me sabwatan sila at syempre, me balato sila if they implement the same in the most blind-fashioned manner possible?
O baka nam si BSP ay talagang kasali na sa third party custodian? (Malapit na pong mag-retire yung isang tao dyan.)
Choose the best answer, please.

10:55 AM

 
Blogger ceteris paribus said...

this is serious evidence. it does appear that BAP is influencing BSP policy (either knowingly or unowingly). the big question is did mr. C act alone or was this with the full knowledge of the BAP board?

what happened to the senate inquiry on this matter? it's about time that someone got involved.

2:37 PM

 
Anonymous Anonymous said...

looks like the BAP "can't handle the TRUTH!"

hahaha...

is it too shocking for the BAP to look at the corruption that their cartel este industry does in collusion with their regulator?

9:13 PM

 
Anonymous Anonymous said...

This really leaves no doubt in my mind that there is a TOO COZY relationship between this FAVORED, UNDERCAPITALIZED 3rd party custodian and the BANGKO SENTRAL, the regulator.

I also think this is a case for the ombudsman.

I hope the men at the bankgko sentral and PDTC/PDS/PDEX realize what harm they have to the country. Their actions have further eroded the trust and confidence of the investing public in banks and in the BSP and the BAP.

Not because we don't make trouble in the streets or something like that does not mean we do not understand the real issues. Do they take us for idiots? Do they think we do not understand how they are scheming to enrich themselves at the expense of the public?

We are facing difficult times. The common man is hardest hit. These rich guys will probably never feel the pinch of lack or need. They'll probably never ever become poor. But they had better be warned. THERE IS A RECKONING TIME. It may be sooner than they think.

10:44 AM

 
Anonymous Anonymous said...

Considering the numerous and outright "coincidences" that show proof of collusion that these BSP-PDEx-lackeys are out to really enrich themselves at the expense of the country and the Filipinos, isn't it about time that Sen. Nene Pimentel or Sen. Mar Roxas push through with the Senate Inquiry that will put a stop to this shenanigan?

4:40 PM

 
Anonymous ELEGY said...

I have a question for the addressee of the letter from the president of the 3rd party custodian mystery writer:

WHAT PRICE GLORY? Could it be the promotion to DEPUTY GOVERNOR OF THE BSP?

Remember: The boast of heraldy, the pomp of power, and all that beauty, all that wealth ever gave; await alike the inevitable hour, THE PATHS OF GLORY LEAD BUT TO THE GRAVE.

11:26 AM

 
Blogger ceteris paribus said...

i find it ammusing that there are people willing to risk their reputation and condone this wrongdoing.

as bankers, isn't our business built on trust? leaving damning evidence in writing like this is sheer arrogance and stupidity.

how can these regulators do their job properly when at the banks they regulate think at the back of their heads that they can cut a deal with them anyway?

7:25 AM

 
Blogger Ardythe said...

I findit hard to read the letter, but I can ask for copy.

Based on the previous comments, all these things were pre-cooked (niluto!)

3:55 PM

 
Anonymous Anonymous said...

DEAR ARDYTHE,

Try clicking the images of the letter. The images enlarge after that.

1:32 PM

 
Blogger Ardythe said...

Anonymous: I already did that but they are still way too smail. :(

5:47 PM

 
Anonymous Anonymous said...

If you click the page, it will show you the whole page in larger image.. then suddenly, it will get smaller again. After that, when you put your cursor on the page, an icon on the lower right hand corner will appear. Click this icon and voila, the page will become larger.

11:35 AM

 
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