All about NOYNOY AQUINO

[CocoCrunch]

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https://www.istorya.net/forums/politi...000-pesos.html
COA questions DPWH P0.5M TV set | Inquirer News

So "TUWID NA DAAN" Pnoy thru DPWH? ahahaha i think they mean literal straight road para dili mabangga.

[networkguy]

https://www.istorya.net/forums/politi...000-pesos.html
COA questions DPWH P0.5M TV set | Inquirer News

So "TUWID NA DAAN" Pnoy thru DPWH? ahahaha i think they mean literal straight road para dili mabangga.

calling pnoy oppss sori nagduwa pa man diay og video games, sec. singson na lang, naunsa naman ni sir?

[jack_bauer]

https://www.istorya.net/forums/politi...000-pesos.html
COA questions DPWH P0.5M TV set | Inquirer News

So "TUWID NA DAAN" Pnoy thru DPWH? ahahaha i think they mean literal straight road para dili mabangga.

THESE ARE THE SAME DPWH OFFICIALS DURING THE TIME OF GLORIA.. they won't change over night.. but the department is doing better now or doing less corruption due to the protective measures the Pnoy administration is doing.. to name one, the abolition of the lump sum appropriation in all DPWH projects, and the excellent performance of secretary singson..

corruption is still there, and yes, its being fought against by the tuwid na daan..

...please spare us the sermons that the fanatics are resorting to blame game..

LETS BLAME EVERYTHING TO NOYNOY..

[AlbertCruz]

LETS BLAME EVERYTHING TO NOYNOY..

like how its always GMA's fault?

[jack_bauer]

like how its always GMA's fault?

one can see the difference..

one, it's just me...

[networkguy]

THESE ARE THE SAME DPWH OFFICIALS DURING THE TIME OF GLORIA.. they won't change over night.. but the department is doing better now or doing less corruption due to the protective measures the Pnoy administration is doing.. to name one, the abolition of the lump sum appropriation in all DPWH projects, and the excellent performance of secretary singson..

corruption is still there, and yes, its being fought against by the tuwid na daan..

...please spare us the sermons that the fanatics are resorting to blame game..

LETS BLAME EVERYTHING TO NOYNOY..

bai jack, why say tao ni pandak ni are you sure of that? bain gani panahon pa ni sa mama ni pnoy, ikaw jud noh liwat kaayo sa imong idol si potot dayon pasanginlan... my point lang is iyang gibutang diha si Singson dapat na na siya gibuhat aning mga tawhana remember more than a year na siya diha imposible wa gihapon siya kahibalo kinsay buang-buang diha sa dpwh!

[jack_bauer]

bai jack, why say tao ni pandak ni are you sure of that? bain gani panahon pa ni sa mama ni pnoy, ikaw jud noh liwat kaayo sa imong idol si potot dayon pasanginlan... my point lang is iyang gibutang diha si Singson dapat na na siya gibuhat aning mga tawhana remember more than a year na siya diha imposible wa gihapon siya kahibalo kinsay buang-buang diha sa dpwh!

sorry2x.. possible gani taw pani sila ni Marcos.. hehehehehehehehehe

sakit lang palandungon nga kaning mga buang2x sa DPWH ug uban ahensya sa kagamhanan ng tago ug ngpalaban sa gitawag ug due process, sa civil service laws, ug uban pa.. klaro nga kurap ni silang mga tawhana pero sa mata sa balaod nga busloton dili pa ni sila konbiktado.. mao nga wala gyuy mabuhat ang presidente..

pero sumala bitaw bai net, sa kaso sa BOC nga dunay nakita nga credible nga ebedensya, gi suspenso man sila.. kaning mga karaho sa DPWH ug solid ning audit report sa COA, i'm sure ma suspenso pd ning mga tawhana..

mghuwat unya ko sa tribune article nga mg yaw2x ug conspiracy theories kabahin sa Samar ug Balay faction kung nana say ma suspenso sa DPWH..

taym sa,asa gani nga faction c singson?

[networkguy]

sorry2x.. possible gani taw pani sila ni Marcos.. hehehehehehehehehe

sakit lang palandungon nga kaning mga buang2x sa DPWH ug uban ahensya sa kagamhanan ng tago ug ngpalaban sa gitawag ug due process, sa civil service laws, ug uban pa.. klaro nga kurap ni silang mga tawhana pero sa mata sa balaod nga busloton dili pa ni sila konbiktado.. mao nga wala gyuy mabuhat ang presidente..

pero sumala bitaw bai net, sa kaso sa BOC nga dunay nakita nga credible nga ebedensya, gi suspenso man sila.. kaning mga karaho sa DPWH ug solid ning audit report sa COA, i'm sure ma suspenso pd ning mga tawhana..

mghuwat unya ko sa tribune article nga mg yaw2x ug conspiracy theories kabahin sa Samar ug Balay faction kung nana say ma suspenso sa DPWH..

taym sa,asa gani nga faction c singson?

hahaha pasabot nimo si chavit singson? lahi man siguro ni siya bai jack handpicked gyud ni siya ni pnoy oi basin nakalimot ka...

[jack_bauer]

hahaha pasabot nimo si chavit singson? lahi man siguro ni siya bai jack handpicked gyud ni siya ni pnoy oi basin nakalimot ka...

si ka roger singson sa DPWH..

[networkguy]

A perfect scam


10/10/2011

The so-called Poverty Education and Alleviation Certificate (PEACe) Bonds issued in 2001 was among the biggest racket sprung under the previous administration, all costing the Filipino taxpayers P35 billion which government gave away to a private group called Caucus of Development NGO Networks (Code-NGO) a P1.4 billion windfall, tax free.

The P12 billion bond float was a payback for the backers of Gloria Arroyo who supported her coup d’etat against then sitting President Joseph Estrada in 2001. The group counted among others, now Social Work and Development Secretary Dinky Soliman and Peace Process Adviser Teresita Deles.

The scam was hatched through official channels that probably included then Gloria’s Finance Secretary Jose Isidro Camacho since his sister Marissa Camacho was the head of the Code-NGO and such float needed to pass through a gauntlet of approvals from regulators, including the Bangko Sentral ng Pilipinas (BSP). The float was even a first for a so-called zero coupon bond where in maturity the P12 billion value of the bonds when it was issued will be worth P35 billion by this Oct. 18 when these mature.

The scam also involved one of the more favored banks of the Arroyo administration, making it one of the most elaborate ever abuse of government power in the previous dispensation.

And what was done about it? All that the scammers received as penalty was the belated imposition of a 20 percent tax which should have been collected anyway had the transaction not received the immense manipulative influence during Gloria’s administration.

The bond issue was unique since it was issued not for any government need but was tailor fit for Code-NGO.

The element of abuse included in the fact that it was underwritten by a bank which also figured prominently as benefiting from Edsa II, Rizal Commercial Banking Corp. (RCBC) of the Yuchengco group.

The zero-coupon bond is a debt instrument where the buyers get the bonds at a deep discount of its maturity value but does not accrue interest. It was named PEACe Bonds that Code-NGO itself designed, betraying its true intent.

As was the practice during the Arroyo administration, the sale of the bonds was rigged from the start to benefit RCBC while Code-NGO collected the brokers fee.

A Senate inquiry into the bond issue had then Juan Ponce Enrile, now Senate President, testifying on the nature of the scam, saying Arroyo’s economic officials, primarily Camacho, failed to protect public interest since the Bureau of Internal Revenue (BIR) even granted tax exemptions to the bond issue.

Bond issues are required to pay a 32-percent corporate tax but the PEACe Bonds float was exempt from this, thus, resulting in some P7.9 billion in forgone taxes.

The BIR belatedly imposed a mere P5 billion tax on the bond float.

With the tax losses, the Senate then threatened to file plunder cases against officials of the BIR, the Department of Finance (DoF), and the Bureau of Treasury (BTr) along with officials of the Securities and Exchange Commission and the BSP.

Senate findings then also showed that even before the actual auctions for the bonds could be conducted, the BTr had already assured RCBC of getting the bonds in full.

Sen. Serge Osmeña previously presented an Aug. 8, 2001 letter to then BTr head Rene Bañez showing that RCBC was assured as beneficiary of the bonds when actual bidding took place two months later on Oct. 16, when RCBC was awarded the bond issue during a supposed auction.

Osmeña then said that about 36 plunder charges could be extracted from the Code-NGO deal. The Senate probe, however, did not result in any prosecution.

Even the supposed independent BSP officials then, who mostly are still with the central bank primarily now BSP Gov. Amando Tetangco defended the bond issue as above board.

Tetangco said then that the zero-bond float was considered eligible as a debt instrument called secondary reserve. The certification was granted a day after Code-NGO wrote the BSP to request approval for the bond float.

The PEACe bond scam, thus, would likely be suck into it many officials who are currently with Noynoy since most are members of the same civil society groups that masterminded the scam.

Instead of plunder charges, however, the Aquino administration merely reimposed a tax that was allowed as an unfair exemption to the Code-NGO.

The P5 billion in back tax was not even a token penalty. What happened to BIR Commissioner Kim Henares’ tough talk against tax evaders or Noy’s straight path spiel?

All seemed to have taken a back seat in the case of Code-NGO.

What a bunch of hypocrites.

The Daily Tribune - Without Fear or Favor