Pangan: On the run
March 25, 2011
NEVER have so many nights been spent on so few material things, namely: the ever recurring earth shaking and the accompanying water upheavals. The danger is always imminent and occurring, ergo, there is nary a chance to stay put and relax our guard.
Every one of us is on the run, literally, as we face daily trials brought by rapidly increasing prices of everything, well, almost, we need to survive in this seriously troubled world. Could we then blame others who are near paranoid about their safety and basic existence?
Would there still be some points where these troubles subside and put us back to normalcy? These are abnormal times, instances of living precariously and on the brink of hopelessness and uncertainty.
*****
Bank on the run. For the second significant time, beleaguered Banco Filipino had to close its doors to its depositors to stave off a bank run, a term used in the banking community to describe a panic-instigated withdrawal spree by the bank’s clientele.
It was in 1985 (if my recall machinery will serve me right) when this bank first experienced massive and unprovoked withdrawals so it had to run to the then Central Bank of the Philippines (now Bangko Sentral ng Pilipinas or BSP) for assistance in the form of loans and advances against the former’s liquid and free and unencumbered assets.
After the emergency aid and bailout, Banco Filipino was resuscitated but its former glory announced in the slogan Subok na Matibay, Subok na Matatag did not bolster the bank’s deposit base but it was able to plod on until this month and year when it again experienced a near bank run.
Due to massive withdrawals in all its branches nationwide, it had to declare a bank holiday and seek Bangko Sentral’s assistance to accommodate large withdrawals from its depositors, but its pleas obviously were ignored by Bangko Sentral, thus, Banco Filipino (BF) had to close, albeit reluctantly and be handled by the Philippine Deposit Insurance Corporation or PDIC.
Cases had reportedly been filed by BF against the BSP, seeking relief from the courts and another lease on life. Meanwhile, the PDIC reportedly is preparing to give back to depositors, from P5,000 upward, their deposits. The insurable amount, by the way, is only up to P500,000 as the law says and commands.
Complaints galore. With this revelation, clients who deposited their lifetime savings feel aggrieved by the suddenness of events leading to BF’s closure. Believing their money is safe and earning inside the bank, depositors willingly parted with their hard-earned money, foregoing their need to spend and save it instead in the bank, only to wake up to the realization that it could last a while before every cent of it can be withdrawn or returned.
Of course, BF’s top officials are now trying very hard to pacify irate depositors. One, Atty. Perfecto Yasay, Jr., once Securities and Exchange Commission top honcho, had to air his views and comments on television and radio networks, saying the bank had enough assets to service withdrawals, with or without BSP’s assistance. He assailed BSP’s hard stance toward his bank, adding that some groups are out to grab the bank from the owners and run it on their terms. As a matter of survival instinct, BF has had to file cases with the courts in order to compel the BSP to honor its previous pledge or commitment to the beleaguered Banco Filipino, now a bank beset with, and by, problems including a disturbing bank run.
*****
Swift Chinese justice. China, like Singapore, is perceived to be a stickler for law, particularly on meting out the death penalty and implementing it to the letter. This much we have seen and now will see in the execution of the three convicted drug mules, namely: Ramon Credo, Sally Villanueva and Elizabeth Batain. Despite the last-ditch effort of the Philippine government officials to save the trio from lethal injection, the Chinese authorities were firm, hard and steadfast in executing the executions, no fear, no favor asked or granted.
How I wish this style of implementing the law is carried out strictly in the Philippines, in order to give fair and equal treatment to litigants, no matter how rich or poor they may be.
Anyway, I can dream, can’t I?
*****
Glitch at DFA Clark satellite office. Some passport applicants told me that they were not able to get their passports last March 18, due to unavailability of the so-called security paper or Secpa, originating from the Bangko Sentral ng Pilipinas. It has been a week now but, aside from text messages sent to expectant passport applicants, no official word has come out (as far as I know) from the Department of Foreign Affairs. Perhaps, its people are busy spiriting out of Libya and other troubled spots overseas Filipino workers? Well…
Source: http://www.sunstar.com.ph/pampanga/opinion/2011/03/24/pangan-run-146682
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(045) 599-5600
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Getting to this fine dining restaurant of Angeles City Clark Freeport Zone Pampanga Philippines
How to get to this fine-dining restaurant in Clark Philippines? Once you get to Clark Freeport, go straight until you hit Mimosa. After you enter Mimosa, stay on the left on Mimosa Drive, go past the Holiday Inn and Yats Restaurant (green top, independent 1-storey structure) is on your left. Just past the Yats Restaurant is the London Pub.
http://www.youtube.com/watch?v=5u5vLLIlNgw
Yats Restaurant & Wine Bar
Mimosa Drive past Holiday Inn, Mimosa Leisure Estate,
Clark Freeport Zone, Pampanga, Philippines 2023
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3003C East Tower, Phil Stock Exchange Center,
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