FIRST PERSON By Alex Magno from The Philippine Star
http://www.philstar.com/Article.aspx?articleId=545053&publicationSubCategoryId=64
There is a war of mutually assured destruction going on.
While the Liberals at the Senate are busy wringing every drop of political juice possible from the C-5 controversy in order to take down Manny Villar, the Nacionalistas are frantically researching on Hacienda Luisita’s affairs for dirt that may be used to take down Nonoy Aquino.
Both cases are vulnerable to charges that political influence was used to create private wealth. That is not difficult to imagine: it is the abiding story of the oligarchy in this country.
Who was it who said that behind every great wealth is a great crime?
We know now from the information sheets being handed out by the partisans that Hacienda Luisita was acquired by Don Jose “Pepe” Cojuangco in 1957 by means of a loan from the GSIS and another dollar-denominated loan from a New York-based bank that was guaranteed by the Philippine government.
That alone is odd. Why would the pension fund of public sector workers finance the acquisition of a plantation by private parties? And why would the Philippine government guarantee a private loan?
Well, in those days, our governance was a little wild and wooly. People with power basically got their way.
There is a war of mutually assured destruction going on.
While the Liberals at the Senate are busy wringing every drop of political juice possible from the C-5 controversy in order to take down Manny Villar, the Nacionalistas are frantically researching on Hacienda Luisita’s affairs for dirt that may be used to take down Nonoy Aquino.
Both cases are vulnerable to charges that political influence was used to create private wealth. That is not difficult to imagine: it is the abiding story of the oligarchy in this country.
Who was it who said that behind every great wealth is a great crime?
We know now from the information sheets being handed out by the partisans that Hacienda Luisita was acquired by Don Jose “Pepe” Cojuangco in 1957 by means of a loan from the GSIS and another dollar-denominated loan from a New York-based bank that was guaranteed by the Philippine government.
That alone is odd. Why would the pension fund of public sector workers finance the acquisition of a plantation by private parties? And why would the Philippine government guarantee a private loan?
Well, in those days, our governance was a little wild and wooly. People with power basically got their way.