Tuesday, February 14, 2012

Do Chiz and Jinggoy think plunderers are dumb?


I have to be frank. Government thieves and plunderers are far more smarter than some of the lawmakers believe. Giving an excellent example is not that difficult. I just have to look for shortsighted bills to determine who's the shortsighted author of it.

There are Philippine lawmakers who are pushing amendment bills which they thought could finally solve the rampant corruption in government. At present it is somehow still safe for Filipinos to keep a bank account with less fear of bank disclosure without their consent. One type of bank account that still enjoys 100% protection by the law against unlawful disclosure is the foreign currency account, e.g. dollar accounts. As provided by Foreign Currency Deposit System Act or  RA 6426, dollar accounts couldn't be opened for any reason unless the depositor allows it. Section 8 categorically states that "all foreign currency deposits" are "considered of an absolutely confidential nature" unless the depositor agrees to divulge its content.