THE BANCAP BEAUTIES AND THE KAMAGANAK INC.

Those who suffered most in the PhP2.3 billion T-bills scam several years ago are said to be members of the so-called Kamaganak Inc. who had gone into banking and other financial ventures with the hundreds of millions they had scooped up as favored persons in the Aquino era.

One business leader who cited the misfortune of the Kamaganak Inc. which had been suckered by the 'Bancap beauties' said this was all part of the karma the Kamaganaks had to pay because they had made illegal fortunes during Cory Aquino's term. Most damaged was a bank that the Kamaganaks had bought into, and it was only because other friendly banks and the Bangko Sentral rushed to help this bank that its expected collapse did not occur.

As to the three 'Bancap beauties' who pulled off that monumental scam, they had since fled to London and other European cities. One of them, a daughter of a famous movie love team of the '50s, was said to have returned a few years ago to face the music. She claims innocence in the scam although she was an officer of Bancap Securities.

As for the Kamaganak Inc., expect them to be back with a vengeance.

(Image from http://philmoney.blogspot.com/)

THE RETURN

A new church-backed "people's movement" is urging morality and scruples in government. Incidentally though, many leaders of this new group are identified with the regime of the late former President Corazon Aquino, and are now hovering around heir-apparent Noynoy Aquino and runningmate Mar Roxas.

Several of them are said not to be qualified to talk about morality because they themselves are open to attacks for hidden skeletons in their closets. Political motives have also been ascribed to the group. It was said the leaders are working for a return to power by appointive positions once Noynoy makes president. As it is, these people salivate and drool over their imaginations each time their man tops any given survey there is.

I had coffee recently with a relative of subject presidentiable and inevitably, our small talk drifted to the thorny issue of these relatives' supposed involvement in numerous cases of graft and corruption in government. And for the other side of the question, I got a brutal explanation.

He said they had suffered for 20 years under the Marcos regime. They had been persecuted and hounded and had their businesses and properties grabbed away from them by Marcos' henchmen. When President Cory took over, it was time for them to recover what had been stolen from them and rehabilitated themselves. And what was wrong with our trying to make a living under Cory? Are we going to be denied this just because we are her relatives?

And then it was time for some straight-shooting and honesty. He told me in a whisper that they knew Cory wouldn't be around long enough and that they had to feather their nests and prepare for the inevitable post-Cory era when they might again be subjected to persecution, and that is where money, lots of it, will come in handy to protect themselves. Look at some of the moneyed Marcos cronies, he said, many of them have escaped prosecution and even managed to worm their way into the inner circles of succeeding administrations because they knew how to buy off the right people in government and among close relatives.

I walked away from that coffee session in a daze, but properly given the low-down on the case of presidential relatives and their headaches.

And so, it does fall into place. They could be staging a comeback once Noynoy Aquino makes it to Malacanang. I guess some things never change. And among those that will always remain in the Filipino way of life is the "utang na loob" system and the meddling of relatives and cronies with the one who succeeds his way most to a high position. In this case the presidency. Brace yourselves, for the "holier than thou" para-clergy are back with a vengeance. This time more vicious and with a bigger appetite for power, backed by a younger generation of the Kamaganak II Inc.

(Image from http://www.reuters.com/)

FERDINAND II

Allow me to start this blogpost by saying this: No, my blog is not for hire nor is it being utilized by any politician or politicians for a fee. It never was and never shall it be. I write from my heart, and do so with openness and a passion. And so, if I write about this individual, it is only because I believe in him, even if we have never spoken to each other. And that is more than enough for me.

I begin by saying that the snowballing criticisms against Ferdinand 'Bongbong' Marcos Jr.'s senatorial bid are said to be orchestrated by leaders of the so-called yellow crusaders and the Kamaganak Inc. who rallied behind Corazon Aquino when she first ran against Ferdinand Marcos.

The pro-Aquino people are horrified over speculations Bongbong will be a sure winner, that is why Aquino supporters have decided to map out a plan to try to prevent such a victory. Their main line now is to ask why Filipinos had forgotten the glory days of EDSA and their bitter fight against a dictatorship.

They have even gone to the silly deep end by warning that Bongbong was embarking on a political career that would bring the country back to the old Marcos years of one-man rule.

They are now having nightmares of Bongbong garnering more votes than their favorites in the senatorial race, a factor which will be interpreted to mean that Filipinos no longer put importance on the meaning of EDSA, or that they would rather forget the wasted, vindictive and uneventful years of the Aquino administration.

Bongbong's victory will prove better than Alessandra Mussolini's victory, a grand-daughter of the Italian dictator Benito (Il Duce) Mussolini, who won a seat in the Italian parliament some years ago. Her victory was analyzed as connoting that Italians had forgiven their Il Duce and may in fact be amenable to having him declared as an authentic Italian hero.

And many Filipinos still remember the disrespect by the Aquino regime for not allowing the late President Marcos a proper burial accorded to all former heads of state, and that Filipinos remember as well that President Aquino approved the burial at the Libingan ng mga Bayani of a dog belonging to the k-9 team of the Presidential Security Group during her term of office.

Bongbong's victory is long overdue. The Philippine Senate has waited too long for the return of a Marcos to bring back to its halls its lost glory.


This post wasn't paid for by the Friends of Bongbong Marcos.


(Image from http://www.manilamaildc.net/)

THE PCGG IS NOT ONLY A BIG FISH, IT'S ALSO AN OCTOPUS

Every now and then, the government embarks on a crusade to catch a "big fish." Well, it need not go too far, for right under its 'ilong' - gated nose is one that would make a butanding look like a butete. Matter of fact, not only is it Leviathan-like, it's also an octopus with Hoover-like suctions, tentacles and all. I am pertaining to the Presidential Commission on Good Government (PCGG), a misnomer of course, because what it clearly shows is bad governance. By all means, the administration must begin a no-nonsense investigation of this tarnished agency with its officials since its creation by former President Corazon Aquino a few days after she rose to power in 1986.

The full-scale probe will clear up all tales and speculations about the so-called Marcos wealth and expose grand-scale looting of the riches of the Marcoses and their cronies - by Aquino favorites appointed to the PCGG. This must also include other PCGG officials appointed by succeeding presidents from Fidel Ramos to Joseph Estrada, and now with the biggest tentacles of them all under Gloria Arroyo. These officials are reported to be living it up in silent contented opulence from the hundreds of millions they plundered in their short stints in the PCGG. Included in the batch of post-EDSA crooks are members of the notorious Kamaganak Inc., who were among the first to venture grabbing the wealth of the Marcos family and company. Today, a new Kamaganak Inc. II has emerged as a more vicious bottomless pit, making the other past loots look like loose change. In the past, the Sandiganbayan had ordered Malacanang to require the PCGG to submit a thorough and honest report on its activities since its creation, and make a public accounting of the Marcos assets it had accumulated, and how they were disposed of. Also, what offices and banks they were deposited in and who were the individuals responsible for administering them.

Many former PCGG officials - and also the present top officials, including minor liquidating officers in the Marcos firms, are now living bountiful lives with enough illegally-acquired wealth to last them more than three lifetimes. I know of several Marcos cronies who escaped persecution and sequestration of their assets by simply handing over half of these assets to well-placed relatives who are lawyers. One such relative cornered most of the wealth of former Ambassador Benjamin 'Kokoy' Romualdez in a lightning raid on such firms a few weeks after EDSA. This relative has passed away and his loot has been distributed to his heirs, who still cling to them and enjoy its fruits.

No less than Ferdinand 'Bongbong' Marcos Jr. had admitted to having $500 million in deposits in Swiss banks, 75 percent of which the Marcos family was willing to give back to the country, and keep 25 percent for themselves. But he insisted that this amount was not stolen from the coffers of the country, but instead was earned and saved legitimately by their family through the late President Marcos' legal practice and business investments. Bongbong speaks the truth here, and documents will prove such.

Today, the PCGG continues to exist in the dark alleys of the powers that be, with shady characters running it. It is therefore inevitable that it now comes out in the open - towards the light, and tell the public once and for all what has become of all the wealth it had sequestered. It's high time they live up to its name - especially the last two words.

What say you, Ric Abcede?

(Image from http://a.abcnews.com/)