The BW Scandal

(January 11, 2001)

Can Erap truly change for the better, now that he’s gone thru such a trying impeachment trial? After watching Almadro and Yulo yesterday testify about the BW case, I would doubt that very much.

Here was a person who in his first days in office proclaimed to the public that, “…walang kaibi-kaibigan, walang kama-kamag anak …..”, and yet a year later came to the staunch defense of his friend. Despite the fact that the panel of investigators personally submitted to him their findings that the stock manipulation was so ‘garapal’ and obvious and warned that it was bound to spur a crisis of confidence in our stock market, he still insisted on sticking to his friend, to the detriment of the country.

Foreign investors in our stock market took one look at the whole thing, saw what Dante Tan did, saw how Erap reacted, then packed up their bags to leave. Obviously, they didn’t want anymore made fools anymore of any of the President’s friends. Guess what kind of news they’d be telling other businessmen back in their countries.

The whole incident happened in 1999. It’s already 2001, and Tan is still scot-free. Were it not for the public outcry for Dante Tan’s head, one wonders if he would’ve been charged at all despite engineering the worst case of stock manipulation in the history of our local stock market.

I just don’t think we can trust this president to keep doing good for the country. A year from now, when he starts feeling confident and secure again, he’d probably be back to his old tricks.

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