RUN

Dear insansapinas,

With the testimony of the PS Bank president in the impeachment trial of Chief Justice Renato Corona presenting the bank accounts and their balances, there may be a possibility of a bank run. Naaah. These are in peso accounts so most likely, the depositors who are going to withdraw their deposits are not the foreign investors but the  government officials who have illegal wealth  and can not deposit their money with offshore banks. Saan nila ngayon dadalhin? Itatago sa kisame like what a Filipino couple did in California, several years ago? They were hoarding the money that   they earned from illegal drugs in their attic because they can not deposit them in the bank when the ceiling gave way to weight of the dollar bills. Ganiyan kadami ang pera. 


I watched the trial, the delays and all, the drama between Bong Revilla and Rudy Farinas, the cross-examination of Cuevas to the president of the labor union and the direct examination of the nervous president of the bank. Why was he scared? He looked scared to me. Naging behaved yata si Farinas pero si Tupas naman ang grandstanding. Totoo kaya yong 50 million niyang mansion?Palagay ko wala sa pangalan niya yon kung mayroon man. The lay people learn about legalities and prcedures from impeachment trial, while the corrupt politicians learn the mistakes to avoid.


I like the way the cross examination of the labor union official was conducted. I still am in a quandary why single out Corona when the SC is a collegial body. The explanation of the Law professor helped people understand what are the procedures being followed while the prosecution lawyer is trying to present to the  viewers that the witness is knowledgeable of the procedures in the Supreme Court. 


I am interested to know how Defense Counsel Serafin Cuevas is going to save Corona on the alleged bank accounts under his name that were not included in his SALN.


Why is the President of the PSBank so nervous? How come only certifications of the ending balances were submitted?  
In my experience as an auditor, we do not only look at the balance at the end of the calendar year. At least we get hold of three to four bank statements preceding the end of the year and one statement after. In this way we can see the movements in the accounts. The ending balance alone will not tell you the story. The hackers of bank accounts do the same. 


Is it possible that the account holder may not be the owner of the bank account?



I had encountered cases wherein the bank accounts may not necessarily owned by the depositor. In the case of our homeowners'association, the wives pooled their savings and bought treasury bonds or cds (not the pirated ones). It is the only way by which the wives can afford to buy more and earn more. The account is under the name of one homeowner who is tasked of placing the money in higher interest yielding time deposits or bonds. The interest is divided among the enterprising wives.


Frankly, I do not believe that the senator-judges will vote based on the evidence. They will vote according to their conscience and I think, there are more without than with conscience. Just notice the senator who always comes to the rescue of the prosecutors under the guise of asking clarificatory questions. I consider them leading questions. I am watching the trial just to learn something new so when I take up Law when I grow up, *heh*  I will also become a real topnotcher. Why real? Well as someone who had also taken a board exam, I know that topping the exam is also a "money matter". Besides  I am addicted to watching law and order oriented drama series in TV.


Sabi nga, who holds the power is the powerful. Ahek. Hanubayan.


Pinaysaamerika