09/30/2011
The divide and rule tack of
Noynoy’s yellow appointees at the state-owned Development Bank of the
Philippines (DBP) is working perfectly, which may be enough to destroy
the global reputation of the bank.
The DBP is the government’s
premier commercial bank which, along with the Land Bank of the
Philippines (Landbank), that in turn was created to supposedly serve the
vast agricultural sector, was designed as tools for the country’s
development.
Lately, however, the only development that has been
seen at DBP is infighting among its officials and a bitter feud among
Noynoy’s appointees and the past leadership of the bank.
The conflict within the DBP is a microcosm of the many conflicts within the fractious Noynoy administration.
The
public, for instance, is now used to hearing about the Balay and the
Samar factions’ internal struggle in Malacañang and the almost public
display of one faction pathetically trying to outdo the other.
There were also several instances when Noynoy’s yellow people tried to impose their will on the agencies that they colonize.
At
the DBP, the yellow appointees backed by the minions of Noynoy’s
cronies are supposedly on a crusade to cleanse the state bank of its
crooked past.
On the cross hair of the yellow appointees are the
former DBP officials and businessman Roberto Ongpin who has long been
suspected by the yellows and the new administration officials to be a
chief crony of former First Gentleman Mike Arroyo.
Employees were
not asked but ordered to turn in what they knew about past irregular
dealings and when the evidence is considered insufficient, it does not
matter that these are manufactured to suit their whims.
The turf
battle at DBP has reached international notice, with credit watchdog
Standard and Poors issuing a subtle warning about a possible downgrade
of DBP’s credit grade that would make it more expensive, if not
difficult, for the bank to borrow abroad or the value of guarantees that
the bank gives on loans to private companies degraded.
The derating on the bank, it being an integral part of government, may also reflect on the overall credit grade of the country.
The
conflict at DBP only goes to show the shortsighted character of Noynoy
and the people around him in running the government or its different
arms.
Noynoy similarly has the penchant of deciding based on
immediate needs while not seeing the future implications of his
decisions. A clear proof of this, was his donating $1 million to the
Japanese victims of the earthquake that happened way back in March.
The
day after the donation, while he was still in Japan, typhoon “Pedring”
struck, devastating most of Luzon, including Metro Manila.
Those
left in the country found out to their dismay that only P3 million was
left in the calamity fund to be spent which would not last for long for
the many victims of the devastation caused by the typhoon.
The DBP
situation would not have been blown out of proportion had the
appointees of Noynoy shed their cloak of conceit and sought cooperation
from employees of the bank instead of threatening them.
As it
turned out, the appointees of Noynoy are being resisted by those who
they are supposed to work with in improving the performance of the state
bank.
Consider that the first order of business of Noynoy’s
appointees was to dig up alleged irregular loans transacted with the
bank instead of attending to the many requests from troubled business
sectors for government assistance.
A serious reform at all levels
of government is indeed expected from the administration of Noynoy but
not through an abrasive mob-like manner that the yellow crowd
surrounding to which Noynoy is accustomed.
Now, trouble at the DBP
is near tipping point with the employees up to the managerial level
appears to be closing ranks against the appointees of Noynoy.
The
resolution of the conflict in the state bank would require either most
of the employees being terminated or the appointees of Noynoy being sent
packing out of DBP.
The latter is more ideal but would likely not happen with Noynoy’s help.
Source: The Daily Tribune
URL:
http://www.tribuneonline.org/commentary/20110930com6.html
NATO
and the press in the countries which house its bases seem to have gone
quiet all of a sudden on Libya. Do they want us to think the war is over
and that everything is getting back to "normal" or are they trying to
focus on other stories hoping desperately that whatever is happening
over there will go away?
