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House to probe HGC deals BLURBAL THRUSTS Louie Logarta 10/25/2010

Monday, October 25, 2010

House to probe HGC deals

BLURBAL THRUSTS
Louie Logarta
10/25/2010
At long last, someone with the gumption to duke it out with the Home Guaranty Corp. (HGC) over several alleged questionable deals that over the years resulted in billions in taxpayers’ money uselessly going down the drain.

This distinction goes to Rep. Bernadette Herrera of the Bagong Henerasyon party-list group who had recently filed House Bill 549 calling for an honest-to-goodness probe into the activities of a slew of past and present HGC officials which had put the national government “in a highly disadvantageous position.”

In her bill, Herrera said the government sustained substantial losses amounting to several billions arising from several allegedly anomalous financial transactions entered into by HGC starting in 2002.

The HGC, she said, should have been a profitable enterprise if it had only been managed properly, thus the imperative need for the Lower House to look into, inquire and investigate its performance in light of persistent reports regarding alleged unscrupulous transactions “to ferret out the truth in the interest of justice and in aid of remedial legislation.”.... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/commentary/20101025com4.html

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