Wednesday, October 27, 2010

Love in plain clothes for HGC honchos

COURTESY is love in plain clothes, so sages say.

As such, much apparel and appearance of doting are lavished on beloved honchos of Home Guaranty Corporation due for investigation by a panel of lawmakers from the House of Representatives— ay, due process isn’t justifiably rude to stage a bawdy burlesque or tawdry strip show for taxpayers who had been thoroughly screwed by HGC.

Avert your gawking gaze at this solemn parade, more so those babes with cheeky innocence to spout, “But they haven’t a wee strip or flimsy thread of decency on!”

Bagong Henerasyon party-list lawmaker Bernadette Herrera-Dy has neither love nor lust lost for those stuffed shirts plopped into high office. And taxpayers will likely agree that a public hearing is way too kind, why, they should be obscene and not heard.

Take a peek to piss you off, doubting and peeping Thomases: “a 2.8-hectare stated-owned property in Vitas, Tondo, Manila, (HGC sold) to La Paz Milling Corp. for P384,715, 800 or around P13,000 per square-meter, which was way below its actual fair market value ranging from P506,205,000 to P694,224,000.”

Taxpayers were stripped of “around P121,489,200 to P309,508,200. This is grossly disadvantageous to the government,” Herrera-Dy revealed.

Moreover, taxpayers would have to shoulder the burden of “HGC’s string of questionable deals like the ‘zero coupon bonds’ worth P7 billion it floated in 2006,” she added

The Commission on Audit, on the other hand, uncovered another HGC anomaly—why, this government-owned and controlled corporation led by one Gonzalo Benjamin Bongolan is in the pits for numerous unpaid obligations but those guys racked up for their separation pay more than P224 million. For shame is thy name…

Uh, bongolan is a native strain of banana—nomen est omen-- so apt for a cabal who had done a full Monty strutting their, uh, bananas…

Rues Herrera-Dy: “It is worth noting that that national government is the guarantor to the HGC obligations, which puts the former in further jeopardy and will ultimately affect the budget allocation intended for the promotion and development of the country’s important social services such as education and health.

“(HGC) should be a profitable venture if only it is managed properly. There is an imperative necessity for the House of Representatives to look into, inquire and investigate the corporation’s operations and alleged unscrupulous transactions in order to ferret out the truth, in the interest of justice and in aid of remedial legislation,” she pointed out.

Congress can spare taxpayers the gory details and offal sure to spill out in the House probe. Taxpayers like us can’t be as civil as lawmakers who opt for public hearings.

More apt for such leather-faced (obscenities deleted) is to face a firing squad.

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