• Virata and technocrats ran the martial law economy

    56

    A statement issued by the Ateneo de Manila staff pontificated: “The Marcos regime’s economics of debt-driven growth was disastrous for the Philippines. The regime was not interested in inclusive development, long-term state-building, nor genuine social transformation of the country.” And they demanded that Ferdinand Marcos 2nd apologize for this.

    It is such a sad commentary on the quality of an academe to be so misinformed of a crucial era of our country, and to sink to the level of sloganeering. The dishonesty of whoever plotted this statement is obvious in that the statement has been portrayed as issued by “412 professors.” The fact is only half of them were faculty, including teachers and assistant teachers at the grade and high school levels. On the other hand, the Ateneo has always been an academic bastion not only of the elite but whoever or whatever regime is in power. The blue eagles of our generation have become the yellow parrots today, parroting mindlessly the fraying yellow storybook.

    Was Marcos directly running the country’s apparatus for economic management? No, and that might have been a big mistake on his part. The politician-lawyer left economic management to the following, known as the martial law “technocrats”:

    a

    Cesar Virata, Marcos’ finance secretary from 1970 to 1986. He was Marcos’ “chief technocrat, or for the entire period of Martial Law, and stayed with the strongman to the very end. He was one of Marcos’ earliest recruits, joining him in 1967 as deputy director of the Presidential Economic Staff. That he was Marcos’ official in charge of the economy is also reflected in the fact that he was chairman or board member of 22 government firms and financial institutions, for which I estimated he made P1 million a month, a fortune in those days.

    Marcos trusted him so much he ordered his 200-member Interim Batasang Pambansa and then the “regular’ Batasang Pambansa, which was set up in 1984, to elect him Prime Minister. Virata took the prime minister’s title seriously that he refused to vacate his office in the few days before EDSA I, saying he was elected to the position, and resigning would have meant “a dereliction of duty”. * When I was covering the finance beat for the business newspaper Business Day in the early 1980s, all of us in media addressed him as “Prime.”

    Gerardo P. Sicat, Marcos’ economic guru and chief economic planning minister, who organized the NEDA in 1973 and headed it until 1984. Sicat was and to this day is a true believer of Marcos’ Martial Law “vision,” as he reveals in his recent book “Cesar Virata: Life and Times,” published by the UP (University of the Philippines) Press:

    “On September 21, 1972, Marcos declared Martial Law, explaining that he would build a New Society. The immediate effect of this declaration was a major shift in the political and economic climate. Martial Law gave Marcos the power to undertake a clean execution of institutional change. Economic reforms suddenly became possible under Martial Law. The powerful opponents of Martial Law reform were silenced. Now it was possible to have the needed changes undertaken through presidential decree… Marcos was a lawyer and he made sure that the moves he made were covered effectively by current provisions of law or by new legal provisions.”

    Take it from the horses’ mouth. “The technocrats who occupied high positions under the Marcos administration found themselves in charge of major economic policy… Now they were power wielders within the government,” Sicat wrote.

    If Virata, Sicat and the other technocrats weren’t really running the economy, why did these strong-willed people, known for their integrity, stick through the entire Marcos regime? I don’t think any of them was the type who would act willingly as Marcos puppets.

    Both Virata and Sicat were known to share the economic philosophy of the International Monetary Fund (IMF) and the World Bank (WB), who trusted them as if they were their representatives in the Philippines.

    Other than Virata and Sicat, Marcos’ technocrats included:

    Roberto V. Ongpin – Marcos’ minister of trade and industry throughout his regime, especially credited, or cursed, for handling the country’s foreign exchange market by controlling the so-called underground “Binondo Central Bank” during the crisis years of 1984-1985. Ongpin was, however, at odds with Virata and Sicat because of his espousal of a Japan- and Korea-type of state-directed industrial development.

    Jaime Laya – Marcos’ budget secretary from 1975 to 1981, and central bank governor from 1981 to 1984. The IMF and the World Bank asked for his head in 1984 for being responsible as central bank governor for the deliberate padding of the country’s international reserves. Marcos then appointed him as education secretary, a post he held until the Marcos regime’s very end. (Manuel Alba replaced Laya in 1981 as budget minister, a post he held until the end of the Marcos regime.)

     Marcos’ trade and industry secretary ongpin, budget secretary alba and PNb Chairman Mapa.

    Marcos’ Trade and Industry Secretary Ongpin, budget Secretary Alba and PNB Chairman Mapa.

    Placido Mapa – a ranking Opus Dei figure, who headed the NEDA from 1981-1983 and at various years during the dictatorship, the Philippine National Bank and the Development Bank of the Philippines.

    Arturo Tanco – agriculture secretary from 1974 to 1984, the architect of the Green Revolution who steered the country to rice self-sufficiency. He was succeeded by his trusted deputy, a veterinarian, Salvador Escudero 3rd, father of vice presidential candidate Francis Escudero. (Should he be also asked to be accountable for Martial Law abuses, going by the logic of the Ateneo manifesto?)

    Most of these technocrats shared the same worldview, the same philosophy on how the economy should be managed, formed by their years in Ivy-League schools – Virata studied at Wharton; Sicat, at the Massachusetts Institute of Technology; Laya, at Stanford Graduate School of Business; and Mapa, at Harvard.

    They believed so much in laissez-faire ideology (now called neoliberalism) – that state intervention should be minimal – that partly explains why our economy became so bad throughout Martial Law. Contrast what they did, or did not do, to what their counterparts in Japan, South Korea and Taiwan did, which was to support (and force in some cases) companies in becoming world-class players.

    In contrast to Marcos, who was demonized after EDSA I, most of his technocrats, of course, have become highly respected members of Philippine society, their role in running the economy under Martial Law – for good or bad – forgotten.

    This isn’t at all surprising. Our elites needed their services, as they knew the ins-and-outs of the financial community, the business world they presided over during 13 years of Marcos’ rule. Maybe I’m wrong and the Philippine elite assessed that these technocrats didn’t do so bad really, with the economy simply a victim of external shocks.

    Virata had been consultant to the World Bank and to scores of companies, even serving as director in a few others. The University of the Philippines, which was a center of the anti-Marcos movement in the 1970s, even – unbelievably – named its School of Business Administration, the Cesar E.A. Virata School of Business.

    VIRATA

    I say unbelievable because while most prestigious US universities would name a school only after a humongous donation to them, the UP didn’t get a single centavo from Virata.And why would a school of business be named after somebody who never was a businessman, but an executive, all his life? If the economy during the Marcos years was bad, and if Virata managed it, why the hell did our premier university name a major college after him, the only unit there named after a living person?

    Sicat is treated as a sage of the School of Economics, writes a regular column for the Philippine Star set up by anti-Marcos journalists in 1986, and wrote a 500-page hagiography on Virata published and financed by the UP.

    Laya set up what would be one of the top accounting firms in the country, and has been chairman or board member of a dozen firms, including the Yap family’s PhilTrust Bank, Ayala Land, Manila Water and the GMA Network.

    Alba has been the administrator of Quezon City since Feliciano Belmonte (now Speaker of the House) became its mayor. Mapa has been the top executive of Metrobank taipan George Ty.

    The smartest of Marcos technocrats has been Ongpin. While his comrades have remained essentially highly paid employees, he has become one of the country’s richest tycoons, ranked 20th for 2015 by Forbes magazine, with a net worth of $900 million (P43 billion).
    Are these the kind of people who messed up our economy?

    I covered the economy, focusing on finance, as Business Day reporter from 1981 to 1987, and had so many interviews with Virata, Laya, Mapa, and Ongpin. No one ever complained that Marcos was intervening in economic policy, although Virata was very critical of Imelda Marcos’ projects that required huge government funds, such as her human settlements program and the heart, lung and kidney medical centers. That or he felt that Imelda would replace Marcos, rather than him, who after all was Prime Minister.

    Why Marcos’ rule ended in economic conflagration, as in any phenomenon in this world, is a long, complicated story, beyond the simplistic good-versus-evil little minds of the writer and signatories of that Ateneo manifesto against Marcos Jr. It is a story still to be told.

    Among many things that should alert us that something is wrong with that Ateneo simplification is as follows:

    GDP average growth from 1972 to 1980 averaged 6 percent, reaching 9 percent in 1973 and 9 percent in 1976, a rate never reached again. However, from 1981 (after the global recession broke out as triggered by the spike in oil prices) to 1985, the average GDP growth rate became negative 1 percent because of the economy’s unprecedented 7 percent contraction for each of the years 1984 and 1985. I believe such recession was partly due to the austerity measures the IMF and the World Bank imposed on us, which were the conditions for extending loans to pay off our debts.

    We weren’t the only country on a “debt-driven” growth mode, which the Ateneo manifesto condemned. After the Arab countries wrested from the industrial nations their oil wells, they were awash with “petro-dollars” looking for some outlet. The US banks rushed to push successfully these loans to Latin American countries and our country in the 1970s. The shit hit the fan when the Iran-Iraq war broke out in 1980, disrupting oil production, pushing its prices and then international interest rates through the roof. What we could easily afford before 1980 became totally beyond our means, and we declared that we couldn’t pay off our foreign debt in October 1983. Ninoy’s Aquino’s assassination in August 1983 merely hastened, but was not really the reason, for the debt default.

    Debt crisis

    Together with Argentina, Brazil, and Chile, we fell into our so-called debt-crisis, which essentially meant our isolation from the world economy, resulting in our near economic meltdown. It was this economic crisis that was the base for the widespread dissatisfaction with Marcos by 1985, that with or without Cory Aquino, the strongman had reached his end of days. According to an academic study, Virata believed to the very end of Marcos’ rule that the country’s economic downturn in 1983 was not due to corruption or cronyism but to three factors: negative balance of payments, accumulating debts and low returns on capital.*

    It is important for us as a nation to have an objective, accurate analysis of the Marcos era, especially its economic history, if we are to develop our nation. It is worrying, though, that a century-and-a-half old academic institution like the Ateneo could be so easily mesmerized into believing the Yellow Cult’s inaccurate, simplistic narrative of the Marcos era.

    The simplistic, erroneous analysis is that our economy crashed because of corruption and cronyism in that era. The reality, though, is that the technocrats who ran the economy adhered fanatically to neoliberal economic thinking, which in almost all developing countries had proven disastrous. No country that has become industrialized in the past 40 years ever implemented such kind of economics.

    But while Marcos technocrats are still alive, why don’t our media and academe, especially those at the Ateneo, ask them what really happened to the economy under Martial Law?

    POSTSCRIPT. It is a bit surreal for the Ateneo “community” to be coming out against the Marcos regime, when the institution was the strongman’s bastion throughout the Martial Law period, as it has been such for every regime that is in power — and as it is now a base for this Administration. The University’s president from 1972 to 1984 then was Fr. Jose A. Cruz, who was so close to and supportive of the dictator as his father confessor and spiritual adviser.

    Cruz kicked out my comrades – Alex Aquino and Billy Begg, and others – for leading anti-Marcos demonstrations at our campus. Fr. Cruz was so rabidly pro-Marcos that he refused to allow for even a day the wake for my close friend and comrade and fellow Atenean Ferdie Arceo, an NPA commander killed by the military in Aklan in 1974. It was only when the tide started to turn in 1984 that the big Jesuit bosses removed him and replaced him with the Cory-friendly Joaquin Bernas.

    * (From Teresa S. Encarnacion Tadem, 2012: Virata: the trials and tribulations of a “chief technocrat,” Philippine Political Science Journal, 33:1, 23-37. )

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    56 Comments

    1. I don’t understand how Mr. Tiglao has journeyed from being a staunch anti-Marcos activist and ex-political detainee at Fort Bonifacio (together with his wife) to a historical revisionist who tries to present to young people a benign or even a rosy picture of the Marcos era. Surely, he of all people should know that these technocrats were there precisely as deodorizers and fronts in order to present to the world especially to our creditors some semblance of credibility. These technocrats are highly paid and well-compensated (through other means) for their efforts and for their credentials. In a dictatorship, there is only one boss. Other titles like Prime Minister etc. are mere trappings to acquire an air of legitimacy for the Dictator Marcos. Crony capitalism is the term used for grabbing lucrative businesses and giving them to bagmen like Eduardo Cojuangco, Jose Y. Campos, Lucio Tan, Roberto Benedicto, Dante Silverio to name just a few. The cronies can easily get financing from government institutions at will for a song because the dictator is their not so secret business partner. This stifled entrepreneurship and private initiative to invest. It also induced capital flight out of the country. When investment is down, employment goes down and unemployment increases. Debt-driven economics when spent on expensive, non-earning window dressing mega-projects of the Imeldific will perk the economy for a while but will ultimately bring the country down… and it did. External factors or external shocks cannot be used as an excuse because we are the only one in our part of the world that went backward (1983-85) thus earning the title “the sick man of Asia”. We recovered and reached 1982 levels only after 21 years in 2003. Until now we have a lot of catching up to do vis-a-vis our neighbors. http://www.rappler.com/views/imho/124682-marcos-economy-golden-age-philippines

    2. “They believed so much in laissez-faire ideology (now called neoliberalism) – that state intervention should be minimal – that partly explains why our economy became so bad throughout Martial Law.”

      This article is self-contradictory or the author does not know what laissez faire means. The title alone says that government intervened in the policies of the country. Cronyism is never laissez-faire nor favors the free market; it involves government involvement to put select parties at an advantage. Everything from the frequency of the Bangko Sentral printing peso bills to the protectionist policies that favored businesses of people above and the likes of Silverio et al. had government involvement in it.

    3. Bobbit!
      Firstly, it’s not easy to perform well in a company if your boss has a reputation for corruption and cronyism.this predicament also applies when you try to perform in government. In this light , you have to be fair to Cesar V et al. & not lay all the blame on them.In my prior work, I have come to know enough to safely grade Marcos’ reign a big “fail”. I will grant though that in the beginning of martial law, his rule held promise of finally imposing discipline on the Filipino people. Sadly, as the saying goes, power corrupts… Absolutely. And that my friend sums up the outcome of martial law.

      Best,
      Mike Andaya

      Ps In all fairness, Cesar V couldn’t quit much as he wanted to. He was the only guy that could keep our foreign creditors & investors from pulling the plug on us.

    4. I salute you sir, Tiglao for revealing the truth, for being fair and honest. God Bless you and your column.. The righteous man will prevail..

    5. Ateneo De manila and De la salle were own by Mr . Henry Sy. ano pa angg aasahan mo sa school na ito.. Akala mo magagaling iyon pala isang mang mang.. din..Our education is now deteriorating because of the these yellow tard regime.. Naging mangmang ang mga estudyante ng dahil sa DEPED na pinatutupad sa grade school, primary, secondary, at college level.. All what they are teaching in their schools were frabricated and non-sense. Not Even today, UP who is the best university in the Philippines cannot cope with the International competition in the world. Iran overtake UP at the international competition. ang Ateneo pa kaya>>> di lalong walang binatbat itong Ateneo sa international competion..This schools were part of the plan by Yellow regime to deteriorate the minds of their students. iam sorry but it is true…so its the owner is the same owner of SM , henry sy..which is chinese. I would prefer the prayle na mga spanish ang mayari ng ating schools rather than these chinese tycon who wants to control the minds of ordinary filipino people..ATENEO IS NOTHING. THEY WERE ZERO MIND.. PA EPAL LANG SILA…TRY TO SEE JAPANESE SCHOOL???magresearch kayo na mga taga ateneo ….

    6. Mr Tiglao, you are one writer I highly respect. Even if I’m already residing here in California, I continue to follow your column with great interest because you write nothing but the truth. What you just wrote now is soooooo true!!!!! Keep up the good work, Mr. Tiglao. God bless you and the good work you’re doing.

    7. Matthew Parkes on

      Only two types of people go to the Ateneo: the offspring of the corrupt families that ruin this nation or the spineless quislings who are employed by the offspring of the corrupt families that ruin this nation.

      Something happens at the Atenista to train people to betray this nation.

    8. Amnata Pundit on

      Don’t forget the Mexican debt default of 1982 and the American recession of the same year that was the deepest on record at that time since the second world war. Add to this the record drought that hit us at about the same time and you have three of the factors that caused the economy to collapse in 1983-85.

    9. Do you know what a dictatorship is all about. All these technocrats do not have the power because Marcos, the dictator, is running the show. The whole Congress is gone and you have a dummy Supreme Court. These were planned by Marcos and Enrile for years.

    10. Very nice reading, Mr. Tiglao. Been following your column even when you were still with the other paper and I found your writings making sense and based on thorough research. Hope you have a compilation of your columns as I would like to get a copy. If none yet, kindly make a book out of those and inform us how to secure a copy.

    11. virata et al. just tools for display. to createa mirage for an inexistent government. 24/7 agenda. behest loans crony capitalism rob the treasury dry. economics 101. marcos era.

    12. These Atenians are just opportunists who want to make tons of money by bootlicking people from those in the corridors ot power eo happens to belong to the same clique… so who are they to listen to when we all know that all they want is to continue with their elitist mentality of monopolizing and exploiting hard working people by their cliques and product of the same low life school…..

    13. As usual! i love reading your articles MR. Tiglao. NAPAKAMAKABULUHAN!
      More power to you sir!

    14. Leodegardo Pruna on

      Ateneo will be doing itself a favor if it will release the results of P-Noy’s visits in the counselling unit of the university. It is sad that an academic institution is allowing itself to be used in political matters when its first and foremost reason for its existence is to create knowledge to enhance human development and welfare. God save the Philippines.

    15. All these technocrats sold their soul to the devil. They paved the way or the Marcos and Romualdez to steal and plunder while these technocrats covered up for them.

      • nicholas mapa on

        care to show your source for my father selling his soul to the devil?

        Nicholas mapa

    16. YELLOW Parrots yellow trolls– salot sa bayan: general luna film, wwII, no power during corys time, ekeke during noynoy, at ano naman ang contriution ni ninoy sa bansa natin sige nga?????

      • I am 17 years old and hears and read so much about this Ninoy Aquino being a big hero that the Filipino people idolize. And yet never properly understood what exceptional deeds that he did to deserve to be revered as a national hero.

    17. Nice article. You forgot 1 technocrat, the controvertial Jobo Fernandez of Central Bank

    18. Fred Pescador on

      God…forgive this Ateneo staff for they don’t know what they are saying. Please school them about the Marcos regime.

    19. Very, very enlightening column Mr. Tiglalo, as always. Let us see if those “bright” employees of ateneo, with a sense that is not common, bother to interview the technocrats you mentioned.

      I heard somebody said before that the essentiality of ateneo is to produce crooks in government.

    20. More power to you Mr. Tiglao, you are an eye opener and the wisdom you impart to young ones like me are truly invaluable.

      • bernie velasquez on

        Tiglao is a lawyer, not an economist. He doesn’t know that National Income is Consumption + Investment + Government Expenditures, + Exports – Exports, the biggest being Consumption and Investment. If Investment collapses, employment collapses and Consumption obviously collapses. There was massive Capital Flight during Martial Law because Marcos was taking over every successful company, be it PLDT, Meralco, ABS CBN, Aguinaldo’s, the Pearl Farm, San Miguel Corp and almost every successful company. Imelda said so four years ago.

        Why would companies invest and risk capital if Marcos will simply take it over if it’s successful? That is how the economy collapsed and people couldn’t find jobs, starting the OFW movement to find jobs abroad. To replace Capital flight, he borrowed from abroad and that is why we accumulated all that foreign debt but in 1980, his credit lines got cut and caused our economic Depression and decline. That was what happened and Tiglao didn’t mention any of that other than praise the debt driven temporary unsustainable growth which collapsed once foreign loans dried up. Tiglao’s points were pure propaganda, ignoring very basic macroeconomic and microeconomic facts.

        He’s an Atenean so he can write well but rudimentary analysis shows the farce! No respected economic analysis ever claimed those Martial Law years produced an economic boom. It produced the massive OFW movement that has reached 10 million + people, breaking up families but eventually saving the bankrupt Philippine economy.

    21. This is the kind of writing they call revisionist. I hope your colleague Rene Saguisag would take time out to read this. Hopefully, he will understand why the revisionists are winning.

      • No. Saguisag is a hopeless old man.

        If he can accuse the INC as “super bullying the government” without valid reasons or understanding of situation, how come Saguisag will understand this article

        Saguisag is, and will always be a blind yellow believer.

      • Peter F Mutuc on

        Mr. Bernie Velasquez: medyo nongmaru ka rin magsulat, but you seem to lack skills in Social Investigation… Amba Bobi, doabugads ka ba? Dehins yata atorni si Ambassador Tiglao, mang Bernie, you must learn from the great Guru of world’s most populous nation, sabi nga ni Nunal, “NO INVESTIGATION, NO RIGHT TO SPEAK”. That’s all.

    22. Very informative indeed !
      Thank you Mr. Bobby Tiglao,
      GOD Bless you and your Column

    23. comment lang.. on

      You got a nice piece Mr. Tiglao kaya lang sana po maitranslate din niyo yan sa Pilipino ng sa gayon po eh maintindihang mabuti ng ating mga kababayan lalo na po ung mga hindi nakakaintindi ng english para po maliwanagan sila sa totoong pangyayari sa ating bansa..
      Keep up the good works. I salute You….

    24. ronald badilles on

      i’ve never been in government service. im 56 years old now and i do believe you. there were bad and good things martial law has brought us. it should be told fair and square.
      me i love martial law especially those early years. congrats and more power,

    25. robert arellano on

      by far the most enlightening article. you just kicked ateneans ass real good

    26. This column is partial with facts long live, thank you so much for the enlightenment to the young generations to know the exact occurrences during ML. I’m living witness during ML era, the good things happened to us as poor, a very poor family who doesn’t a farmland to till, however, that during ML my father awarded a parcel of land thru CARP, it is sad that well known catholic school who advocates good deeds and they well verse “THE WORD OF GOD” are they ones who don’t follow The God’s commandments, by God said Love ur neighbor as love as youself….God bless you Sir and your family

    27. emmanuel soriano on

      I pray that more people like you, enlightened our young generations regarding martial law years, hopefully the biased assumption and false belief being instigated by people whose only intentions are to maligned the marcoses but disregarded the gains of their administration that benefited our country during those times… CONGRATULATION MR. TIGLAO, YOU ARE REALLY A MAN OF INTEGRITY…

    28. Ateneo and La Salle are on the same boat, both educational institutions are given too much credit for nothing. The reason why they are “popular” is due to those running them, Ateneo by the Jesuits and La Salle by the La Salle brothers both political leeches. There is Fr. Arevalo, a Jesuit priest who is the confidant of Cory Aquino who made comments that Cory should be declared a saint and continue to defend PNoy in spite of all the corruption and mistakes of this man because he is an Aquino. We have the political institution La Salle which produced 2 secretaries of Education but have done nothing to uplift the educational system of the country. These 2 institutions are no better than the others other than propaganda and very expensive tuition and other school fees.

    29. A well-written based on facts and statistics commentary as usual, Mr. Tiglao!

      As a former government employee who devoted 35 years of my prime working with a government corporation created under martial law that established and developed independently managed and operated local water utilities through most of the country’s provincial cities and urban centers which have tremendously improved water supply delivery in their areas and sustained their operations without even a single centavo of government subsidy (Their capital projects have been funded by government loans which they religiously pay), I can attest to the massive infrastructure improvements done during the Marcos years.

      Mega cities as Cebu, Davao, Cagayan de Oro, Angeles, Dumaguete, Dagupan,Baguio, Iloilo, Naga, Legazpi, Olongapo, Laoag and Vigan and former backwater towns as Tarlac,Tarlac, San Fernando, Pampanga, Dasmarinas, Cavite and San Jose del Monte, Bulacan to mention just a few would not have reached the status they have been enjoying since the 80s and 90s if not for the contribution of these water districts and the greatly improved water supply in spurring their socio-economic growth.

      Many of these now large, financially viable and self-sustaining water districts which aside from religiously paying their government loans, are even contributing to the national coffers by way of tax payments are in fact the apple of the eyes of private business many of whose CEOs and executive officers are graduates of Ateneo!

      Truth to tell, it is those exclusive school-bred graduates ( including many Ateneans like PBSA ) now holding top posts in the government and private sector who are bent on taking control of many of these large, progressive water districts through privatization or the so-called PPP for profit motive while consigning the poor water consumers to long years of graduating water tarriffs on account of onerous so-called concession agreements!

      I hope Mr. Tiglao will come up with an in depth investigative commentary feature on
      earning GOCCs being harrassed and pressured to PPP or outright privatization to satiate the greed of a few.

    30. The programmed heads no matter how much explanation and back it up with facts they probably won’t even bother. Their brain seems only functions on how they were program by their master manipulator! I believe that one of the stupid (apparently smart professor) who wrote an anti FEM book base on rumors and opinions! I say if he really wanted the truth,why not interview those guys you named in your article Mr. Tiglao. I commend you for trying to write facts no fiction, of which the Yellow Turd Zombies writes only fiction. Another thing, I wish you’ll also talk about under Cory (controlling) Aquino. According to the author of “Greed and Betrayal, Mr. Cecilio Arillo,that nobody in the Philippines so-called journalists touch about her very negative background as one term president. Apparently her administration and of course her has a worse record than FEM regarding corruption, extra judicial killings corruption etc.

    31. I love ur write ups sec Tiglao and congrats for sharing these valuable info esp us the youth! GODBLESS& MORE power sir! -jr

    32. The Philippines in Ferdinand E Marcos regime was ran like a tight Mafia like operation that Marcos micro managed to every detail. Every government transaction, big or small passed through the hands of Marcos. And let’s not forget that Imelda and the Romualdez clan did their pillaging too. Every government post had a Romualdez relative on the top tier, mid level and lower level of operation.
      The Philippines was like the Marcos’s and Romualdez’s personal “piggy bank,” they took money out like they owned the country. Kickbacks was the order of the day.

      Virata, Ongpin, Mapa and the rest of the boys were just messengers in the palace. Imelda had the final say on everything. Every Marcos and Romualdez niece and nephew were millionaires. Travels to Europe, America and Asia was like a trip to the nearest shopping mall. I know it, my younger sister was friends with a couple of Romualdez girls.

      Peoples awareness in this election is crucial because a Bongbong VP win is a step to having another Imelda “kleptocracy.” And let’s not forget that a Binay presidency is equally catastrophic for the country.

    33. Samuel Santos on

      “It is such a sad commentary on the quality of an academe to be so misinformed of a crucial era of our country, and to sink to the level of sloganeering.” – It no longer makes me wonder why some people refer to this educational institution as “Taeneo.”

    34. Well said, Mr. Tiglao. There should be more journalists like you that writes and supports what you write with “clear and verifiable facts”!

      Senator Marcos was never his Father’s Keeper. And the majority of the Filipino voting electorate as well as those political and community leaders supporting his bid for the Vice Presidency are most rightly in the righteous path!

      Mohra Naga

    35. Hill Roberts on

      But FM was right NOT to meddle. Precisely why the Philippines is heavily in debt because of the meddling by one man: BullShit Aquino. The country has trillions upon trillions of US dollars lost, stolen, wasted, diverted . Now this sitting president will leave the Nstional Treasury bankrupt . It’s not the job pf a president of a country to handle the economics of the nation. He can guide and make suggestions , but that’s about it. A president must not even sign infra projects. That should be the job of the Treasury Secretary only.

    36. Jose Vallejo on

      The buck stop at the top, FM. They were just executing orders from the top, FM. Responsibility resides with who ever is on the top, FM. Point the finger or blame the Captain and not the Lieutenants.

    37. the ateneans only believe in themselves. thats how stupid they are. no matter what the facts are they will just insist what they like. its better to ignore them. anyway they are a lost case. always blaming marcos. and what about them. what did they do for the country? mga professor pa mandin.