The Misuse Of The SSS Pension Fund

Article No. 35

5-04-01

THE MISUSE OF THE SSS PENSION FUND

We are many. We are 25-million strong, all members and owners of the

SSS Pension Fund. The government does not own the funds. The

officers running the SSS likewise do not own

the funds. They manage the funds as a fiduciary trust. It is

incumbent upon them to manage and invest these funds with utmost

care.

But were these officers grossly remiss in their avowed task to

protect and nurture the funds when they invested a big chunk in

shares of stocks beyond reasonable limits and even in stocks of

unproved worth?

Now it is reported the SSS lost eight million pesos when these same

stocks plummeted in value. Obviously, the blame rests directly upon

its directors and Chairman. Sound judgement, deep study, and utmost

prudence were not exercised when they approved these reckless

investments that reek of adventurism and boldness uncharacteristic

of a wise business decision.

Carlos Aurellano, the SSS Chairman during the Estrada

Administration, would want us to believe he was pressured by Pres.

Estrada to make the foolhardy decision to buy stocks in the merger

of PCI and Equitable Banks as well as in the purchase of Best

World stocks, a company engaged in the unpredictable business of

gaming.

C’mon Mr. Chairman you want us to believe you? Are you not a

seasoned, wizened investment banker of remarkable ability and far-

ranging experience that you could easily be bamboozled into making

hasty, ill-studied decisions? Or, are we to believe you that you

were under duress when you approved the stock purchase, so as to

claim no responsibility for the hapless fate the SSS has fallen

into?

Please do not make us believe you for we simply refuse to believe

your contentions are valid. We are 25 million strong. We are all

members of the Social Security System who will suffer due to your

grossly incompetent act and scandalously immoral behavior. You

either have no balls to resist the greedy importunings of a venal

president or you are also in the take, a willing conspirator in the

plunder of the SSS assets.

We are 25 million members in the SSS and we are boiling in anger.

We want to lynch you, your lackeys and your grasping President, if

ever this is possible for the injury you have caused is beyond

telling.

Waging A War On Two Fronts

Article No. 37

8.21.01

WAGING A WAR ON TWO FRONTS

Verily, the observation and comments of De Quiros in his column (Philippine Daily Inquirer) regarding the uncanny behavior of Manaway and Corpuz in the Senate hearing are precise and incisive. Why, indeed, should Corpuz open up so many fronts in his war against crime, and against drug dealers in particular?

He knew too well he was treading inside the lion’s den or shall say he flung himself right into the snake pit? As an intelligence man, he must sense immediately the environment was hostile and he should have been more wary and cautious as the senators relentlessly bombarded him with unkind remarks and unfriendly questions designed to paint him into a corner.

Yet he chose to rile several senators and even allowed Manaway to help him in this very undiplomatic exercise to the point all the senators were in a fighting mood and no amount of apologies could mollify them.

Now the senators are in a defense mood and they have conveniently forgotten the real issue which the public wanted desperately to be enlightened of, i.e., whether Senator Lacson is the wily criminal he was alleged to be, guilty of kidnapping, salvaging, bank robberies, money laundering and smuggling.

When will we ever see the light of day? The senators obviously have nitpicked on side issues. Is it a deliberate attempt to gloss over the alleged crimes of a fraternal brother? The public is waiting, impatiently, while the Senate has not yet decided to really buckle down to work and really and truly investigate one of their own to ferret out the truth, how unpleasant and troubling it may be to their own comfort. Will it rise to the occasion, or will it again add another layer of mud to its muddied face?

On Writing

Writing is an art. It starts with an idea that gets full fruition in language. Facility in writing depends upon one’s mastery of the vehicle of thought. He gropes and wrestles one who is sorely bereft of ideas. This is compounded when there is abject poverty of vocabulary. Wealth of ideas must go hand in hand with adequacy of expression.

Both, however, can be attained only in a lifetime of study and prodigious application of all mental powers to sharpen the wits and refine all five senses to make truthful and objective grasp of reality. There is no worth in a person who writes and twiddles with his brain but his output is either too mediocre, not deserving of attention or too brilliant but not making any sense or, sadly, he is totally out of touch with reality.

Development of the mind and the refinement of the spirit as well as the gracious assiduity in pursuing the fine art in dealing with people make for a higher quality of writing. The output of such a person would be enjoyable to read. Such writing can launch our spirits to great heights of rumination and even in fact provoke us to think deeply and savor whatever feelings it may

arouse in us.

Writing indeed is an art and a skill of great import.