Thursday, August 30, 2012

Philippine Banks & banking laws

Banks are mostly recognized for their roles in a country's economy just like in the Philippines.  It seems that banks all over the world are concerned about loans that are unpaid and go relentlessly after those who owe them.  But, and that is a big but, if they are closed down for mismanagement and inappropriate banking practices, depositors who go after them will have to bear months to know if they can get their money back!

Not only that, the stupid Philippine government does not have anything in its laws to protect the employees of those closed banks!  The rank and file employees simply get a severance pay of one month or a little bit more.  They become jobless after several years of service expecting to retire.  Yes, what about employees who are about to retire in 5 years or less?  The Bangko Sentral and the Philippine Deposit Insurance Corporation (PDIC) just stick their tongue to them, as if saying "that's what you get for having imbecile employers!"

Employment in the Philippines is still as bad as it was before.  There's very little chance for employees of closed banks to get another job a.s.a.p.  What about those who are about to retire?  They have lost almost everything and would hardly be employed again!  Executives of the closed banks have no worry as they get paid by hiding their bank's secrets and even get employed with sister companies of the banks.

This is one thing that Congress and Senate have to consider because those banks have laundered money that should be take home pays or retirement benefits of their employees!

Wednesday, August 1, 2012

Oil prospects claimed by China is offered up by Philippines

Finally the Philippine government has done something wise about the claims of China.  It has offered out the oil prospects claimed by China that is within the territorial waters of the Philippines.  Oil exploration here would be done by foreign oil exploration companies because hardly any local company could do it.  If China interferes or harasses these companies they will have to deal with the country of these nationalities.

The countries of these nationalities will defend them and the Philippines. The exploration is well within the territorial limits of the Philippines, recognized and accepted by the companies' countries.  Should China meddle with their exploration and threaten them, it would obviously be an aggressive act against those nationalities provoking their countries and the Philippines.

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Heavy rains, Typhoon & suspension of classes

The Philippines is said to be hit by at least 20 typhoons every year.  Stupidly, school year starts on the onset of the rainy season right after summer.  The idiotic Dept. of Education does not change the start of the school year even it is obvious that rains and typhoons will cause suspension of classes.

Okay, so school starts and students are informed that classes will be suspended for high school and lower levels for typhoon signal number 2.  All school level classes are suspended when it is typhoon signal number 3.  For or during heavy rains, it depends on the schools to suspend classes.  Does the government think that college students are immune to the weather at typhoon signal number 2?  We have been students and it is very uncomfortable to attend classes when you are all wet or even when just your shoes are soaking wet!

Can anyone from PAG-ASA or DepEd rationalize the selective suspension of classes at different school levels for those typhoon signals?  Do not reason out that older, taller or more mature people can protect themselves better from inclement weather.  This is a very simple issue that can easily be resolved.  Why make it difficult for Filipinos?  Don't also excuse that it has been a "tradition" because it is one tradition that makes things bad for children going to school.  This is one government stupidity that makes the Philippines having no logic in addressing issues.

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