FROM SCRATCH NEWSWIRE

SCAVENGING THE INTERNET

DISSERVICE TO THE NATION – “Men are more often bribed by their loyalties and ambitions than money.” – Robert Jackson – (Philippines)

Posted by Gilmour Poincaree on November 14, 2008

Friday, November 14, 2008

by Postgen Hector R.R. Villanueva

WHILE the monetary authorities among the world’s major economies have categorically declared that the world is definitely in recession, and there is no telling how long it will take to bottom out, we here in the Philippines are still obsessed with Congressional investigations that invariably end inconclusively.

It is dismaying to note that mainstream broadsheet newspapers and major television networks are like ambulance chasers dedicated to magnifying juicy issues and controversial personalities, and oblivious to the global financial crisis that will not spare any country, regardless of how large or small the economy maybe, from economic contraction.

So here we are. Instead of preparing, and looking for alternative sources and resources, to counteract expected decline in overseas employment and pari-passu corresponding drop in inward remittances from abroad; expected contraction in major exports, such as, electronics, garments, and fruits, and reduction in direct private foreign investments and official development assistance (ODAs), our congressional leaders are more preoccupied in extracting confessions, though not yet formally charged or accused, and admissions of wrongdoing, from former Agriculture Undersecretary Jocelyn “Jocjoc” Bolante which obsession is not only counter productive but also wasteful of people’s money and time.

Second, as the externally-induced financial crisis – originating from America – starts hitting landfall, a vicious spiral starts to spin.

That is, consumers become more cautious and parsimonious in their buying habits; banks start collecting from maturing loans while borrowers cannot pay, and when the banks’ liquidity gets threatened, the Government will either provide emergency assistance or buy in into the equity of banks which foreign governments have been doing to their own national banking system.

Needless to say, despite governments’ decisive moves and succor, the people have become wary, confused, and dazed.

Third, it is in this context of preparing for the worst, and hoping for the best, that the political leaders should address and pay attention to instead of grandstanding probes in aid of ambition.

In a word, many of our natural disasters, misconduct of public officials, and financial felonies are better investigated and resolved with the least fanfare and publicity when our officials have more important issues, such as, budget deficit, and diminishing exports, to address.

When all is said and done, it is disconcerting to be subjected to tedious and boorish congressional investigations that lead to nowhere unless the end objective is, say, to associate Jocjoc Bolante to the First Gentleman, and collaterally embarrass the President.

By the same token, with 2010 election just around the corner and the advent of a new administration, the filing of impeachment against President Gloria Macapagal Arroyo is a waste of everybody’s time, and an exercise in futility.

There are so many critical issues to attend to than Jocjoc Bolante, or De la Paz.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘MANILA BULLETIN’ (Philippines)

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