Name: aabel natividad
City/State/Country: European Union
IP Address: 95.36.47.70

Comments

Republic Act No. 6426, an archaic law instituted by dictator Ferdinand must be repealed NOW by congressman/senators if they are serious enough with their job to protect the Filipino people. This had been overlooked (intentionally or not) for many long years. Look what happen now -This corrupt chief justice have raised this particular wall of defense on charges of ill-gotten wealth against him .

Name: Phil Researcher
City/State/Country: LA County, CA USA
IP Address: 98.119.17.19

Comments

RE Bank Secrecy laws.. RA 6426 was enacted yes to protect the corrupt.. But in civil society there is always an exception and that is that secrecy laws cannot protect fraud or perpetuate criminal activity.. If CJ Corona has so much $ dollar deposits, is he the only Supreme Court Justice who is doing this? Having excessive money deposits out of proportion compared to their salaries. Filipinos wake up, How did you remove corrupt politicians Edsa I & Edsa II.. Well it might be time for Edas III to remove the CJ and his minions. It took 3 years of rallies to remove FM, with the present communication system the text I believe it would not take that long to remove Corona

Name: 1 UP
City/State/Country: GOTHAM CITY
IP Address: 74.101.61.3

Comments

I have always been critical of the Bank Secrecy Law and the need to have it repealed if the government is sincere in getting rid of corruption. President Marcos issued PD 6426 for his personal benefit and that of his cronies he had used as dummies in parking ill gotten wealth before shipping them all to off shore banks. As long as Bank Secrecy Law is the law of the land there is no transparency that this country could be proud of. I thought everyone must know this:

Name: 1 UP
City/State/Country: GOTHAM CITY
IP Address: 74.101.61.3

Comments

continue >>> in the US, all banks are required to report cash deposits in excess of $10,000 as well as large or suspicious cash deposits. Banks report them to IRS and banks are required to submit Currency Transaction Report or Suspicious Activity Report for the above. Even sending a check to a depositor's relatives in another country or issuing traveler's checks in excess of $2,500 is covered in the reporting requirement. When the SC issued this TRO against Corona’s dollar deposit of $700,000, the real intention is to put the fire out using a fire extinguisher before the Fire Department investigates the cause of the fire.

Name: 1 UP
City/State/Country: GOTHAM CITY
IP Address: 74.101.61.3

Comments

I have always insisted that looking at the SALN is not enough. It has to be linked with ITR and bank deposits. There will always be a discrepancy because SALN and ITR will always remain understated because they are publicly available but bank activities or records are not. The current law on bank secrecy requiring the depositor's permission to have the deposits examined or looked up is just ludicrous (insane to the highest level). Since when does the depositor's interest exceed that of the state? ONLY IN PH , I guess! It is only in this country too where public officials are grown in petri dishes.

Name: James
City/State/Country: Manila, Phil.
IP Address: 112.198.83.253

Comments

It would be more realistic and balanced if you simply ask why those Elected Officials after the Marcos Regime NEVER revised this Law. Especially those who hated Marcos and considered themselves anti-Martial Law. Marcos been DEAD for several decades, no need to accuse over and over again against a DEAD person. Instead, those who are ALIVE and have the power to change the existing Law should do the Revision of such Law!

Name: GFJBHEDF
City/State/Country: Hercules
IP Address: 67.188.19.40

Comments

There is no doubt, FCDA, RA 6426, of 1974, of the Philippines, was created to hide ill gotten wealth of Marcos et al. To date, enjoyed by all government officials since its inception, including military and police. Take your pick of trapos, (anyone of them), AFP general staff and the Police top brass, and they all have untouchable FCDA, more so than not. However, until it is repealed, it remains the enforced law, for all the above to stash ill gotten wealth. RA 6426 must repealed ASAP. Until then, what is good for all Pinoys, is also good for CJ Corona.. No look look into FCD.

Name: GFJBHEDF
City/State/Country: Hercules
IP Address: 67.188.19.40

Comments

TRO on CJ Corona's FCD, under the protection of RA6426, does not/should not put the brakes on the impeachment proceeding. True, it is handicapped by it, and pro P'Noy senator judges may heehaw, and "oink" like senator Drillon, but it won't stop the proceeding. If the impromptu articles of impeachment are meritorious, in spite of.., then impeachment, in the senate, will triumph, or wither for being anemic.

Name: JRH
City/State/Country: Montreal, Canada
IP Address: 70.80.150.175

Comments

It's about time that Filipinos come out & be heard. If we have to demonstrate in the streets & demand that 'People want Justice' now is the time. It shows that corrupt people in the Phils don't give a shit about our people. Their main function is to enrich themselves once elected or appointed. U.S. accounts in the Phils are untouchable by law. It can't be revealed unless the depositor say so. What? So, if I have ill-gotten or hidden wealth, I'll just convert them to dollars & I'm essentially untouchable. Really? If this is the main problem, then, why not repeal this stupid law that only favors the rich, the corrupt, & money-hungry politicians. Amazingly, it shows that CJ Corona has deposits all over the place including U.S. accounts & it's over-flowing by the minute.

Name: Aiota Capli
City/State/Country: Inland Empire
IP Address: 173.55.209.57

Comments

It’s shocking that RA 6426 exists to this day. But then again, Marcos, who signed it into law, is not even buried yet! Marcos' doing continues to hound us and takes us nowhere. If PNoy wants a "tuwid na daan" then the Congress and the Senate need to fix and pave the roads leading to the legal system's structure first, literally. We have been taken for a very long, roller-coaster ride by so many corrupt politicians and political appointees, “lawfully.” They knew too well that with RA 6426 their ill-gotten wealth stays safe and untouchable. It’s time to repeal it. It is time to free the country from legal roadblocks like RA 6426. Enough of law shenanigans please! It's time to consider legal cleansing!

Name: Steve R
City/State/Country: California
IP Address: 98.234.19.64

Comments

What were the govt. officials behind the Foreign Currency Deposit Act were thinking when they included Section 8, "absolutely confidential nature"? The Bill of Rights in the PH Constitution does not include the 5th Amendment found in the US (the right of an accused to refuse an answer to a question) thus the reason behind Section 8 was an anticipation that depositors of foreign currency will likely be investigated. In my view, officials behind RA 6426 were crooks, consumed with greed, corrupt & knew in advance they were up to no good with dollars that they did not earn honestly. I suspect that those officials behind RA 6426 anticipated that the act will protect them from whatever amount of bribes they'll receive bcoz of the power that came with their positions.

Name: tonyO
City/State/Country: pinas
IP Address: 111.68.59.76

Comments

Sen. Recto moved to revoke the absolute confidentiality of foreign currency bank deposit under R.A. No. 6426. I believe, though, ALL BANK SECRECY LAWS MUST BE REPEALED FOR TAX AND OTHER LEGAL PURPOSES. All banks must submit to the BIR electronic periodic report on deposits amounting to e.g., P10,000 or more, like the US procedures. Senator Juan Ponce Enrile fought for this amendment for tax purposes when he authored the Comprehensive Tax Reform Law (CTRP) which became R.A. No. 8424 but failed.

Name: GFJBHEDF
City/State/Country: Hercules
IP Address: 67.188.19.40

Comments

If P'Noy et al are really on the level about doing away with corruption, instead of brow beating the Supreme Court for doing their job, P'Noy ought to push right now for the repeal of RA6426, that protects foreign currency accounts secret, that not even the Impeachment senate court is exempt from that law. If the impeachment court choose to ignore the the TRO and compel PSB to violate RA6423, who is there to stop them? When that happens, only the people, and the military behind the people can stop them.

Name: JRH
City/State/Country: Montreal, Canada
IP Address: 70.80.150.175

Comments

RA 6426 is a law created by Pres. Marcos to protect swindlers & thieves like him et al. In other words, it's a sophisticated civilized corruption par excellence. It's the law. The Phil gov't is ranked as the most corrupt in Asia allow corrupt rulers, high ranking people, & crooked officials to systematically siphon off billions from its national treasury. It's a thieving outrage in an open & organized plunder considered in the political arena as normal & routine. It's an acceptable graft practiced by the highest & the mightiest. It's a way of life for many Filipinos from the small bribes paid to traffic cops to the presidency. All of them wearing respectable barongs, suits, & togas. Repeal this law NOW.

Name: GFJBHEDF
City/State/Country: Hercules
IP Address: 67.188.19.40

Comments

Congress should repeal RA6426 already. That way, P'Noy & Gov't officials, military & police top brass, congress, & the judiciary, will include in their yearly SALN ill gotten foreign currency bank accounts, instead of just singling out CJ Corona their scapegoat.

Name: Greg
City/State/Country: Daly City
IP Address: 63.235.113.5

Comments

Have all the Senators and Congressmen repeal this Bank Secrecy Law.

Name: tonyO
City/State/Country: pinas
IP Address: 111.68.59.74

Comments

Congressman “Umali appeals to ‘small lady’ to come forward on leakage” Umali, a Prosecutor in the Corona Impeachment trial who presented a purported PS BANK document on CJ Corona dollar account merely manufactured such document. He can’t prove that a small lady gave it to him because this is untrue. He should be charged for violation of R.A. No. 6426 re the absolute confidentiality of foreign currency deposit law.

Name: JRH
City/State/Country: Montreal, Canada
IP Address: 70.80.150.175

Comments

CJ Corona will fight tooth & nail not to disclose his dollar deposits. He knows that under RA 6426 he is well-insulated & protected. However, as a leading public servant, it will be right, proper, & just if he declares all his assets & liabilities to show public accountability. Filipinos have the distinct impression that all these are long-secret financial records that are intentionally hidden or kept from the public. So, is it ill-gotten, hidden wealth, or stolen currency? If not, it will be prudent & wise to show the public all the records. It will be a smart move, politically astute, & totally transparent. Otherwise, the uncomfortable truth is you're just a first-class thief. Thief Justice magnanakaw.

Name: 7gtg
City/State/Country: regnk
IP Address: 24.89.83.99

Comments

PNL editorial: " .. It was signed into law two days after April Fools Day in 1974 by then President Ferdinand Marcos,.." hahaha.. there was a book entitled 'straight and crooked thinking', where it tackles this kind of writer's dubious style of manipulating the readers. So what if it was 2 days, 200 days, or 300 days? Why mention April fools day? Readers beware. Read wisely. Just imagine the 'ngiting' aso of the writer as he writes this piece.

Name: Todo
City/State/Country: Lanao del Norte
IP Address: 121.54.47.67

Comments

RA 6426 stands unless amended. Eh kung ayaw ng impeachment prosecutors sa batas na ito dapat I amenda nila ito. Huwag nilang sisihin and SC kung naiterprete nila ang Sec. 8 nito in a strict sense. Ito and batas eeeh. Ano ang ginawa ng congressmen alam nila na absolute ang confidentiality nito, dapat nairepaso na nila ito, yon ang trabaho nila. Tapulan kasi eh.

Name: 1 UP
City/State/Country: GOTHAM CITY
IP Address: 74.101.61.3

Comments

"The mere fact that this law was promulgated by Marcos and his minions during the early years of Martial Law should make it immediately suspect. Was the law simply a way for that corrupt government to hide all its ill-gotten wealth?" Even my dog could answer that and even Pipit knows that. You put a mask if you don't want anybody to see your face!

Name: 1 UP
City/State/Country: GOTHAM CITY
IP Address: 74.101.61.3

Comments

The desired goal of cleaning up the government of its trash is for Congress to review all presidential decrees issued in the past and all SC's resolutions, memos, and opinions that serve as obstacles in rendering true justice. Strike them down, repeal them or write new laws. People are not not only critical but cynical of this attempt to yank Corona by considering it as political vendetta. This SUPREME COURT is cerebrally challenged and very partisan. It has lost its independence and sanity too. Congress people likewise are behaving like actors and supporting cast with speaking lines in this great theater of politics.

Name: GFJBHEDF
City/State/Country: Hercules
IP Address: 67.188.19.40

Comments

Do you think P'Noy et al and congress will now hustle to repeal RA6426, to aid rid of corruption in all three branches of government, for real walang wang-wang daan matuwid? I tell you right now, "Don't hold your breathe." It's not going to happen. Why? Because it will expose all of their ill gotten wealth. The people will go into a lynching mood.

Name: JRH
City/State/Country: Montreal, Canada
IP Address: 70.80.150.175

Comments

The sad fact is RA 6426 was exclusively designed for the corrupt & thieves in the Phils to hide ill-gotten wealth. Case in point; Pres. Marcos case. How many agonizing years did it take our gov't to pursue, review, & reveal the hidden accounts? Not until most of the Swiss Banks changed their iron ruling on hidden accounts. Pascual Garcia, president of Phil Savings was so evasive in answering simple questions that makes you think, are these the people dominating our country. Crooks, liars, & manipulators of the system. He even implied that the 'small lady' is fictional & the by-product of the prosecutions' minds. I think this whistleblower just want the truth be told. The prosecution & our gov't should protect her or whoever can produce legitimate records.

Name: JOHN KOLOSKY
City/State/Country: TAYTAY PALAWAN
IP Address: 122.52.46.51

Comments

People in public office are required to file asset liability and net worth reports. If this requirement is more than window dressing for the public, then they must be able to be audited. If such is the case, one would and should expect that the bank secrecy laws do not apply to public officials. The intent of one law should outweigh the other in the public interest. The intent of the bank law was not supposed to be to protect illegal activity.

Name: sbejar
City/State/Country: chicago
IP Address: 99.105.68.41

Comments

Yes, its about time and should not have become a law at all. The Foreign Currency Deposit Act of 1974 should be completely abrogated. A secretive law that Marcos implemented to protect him and his cronies bank accounts only encourages current and future dishonest politicians and other government officials to enrich themselves because of the protection of said law.

Name: Pablo Gomez
City/State/Country: Cavite
IP Address: 121.54.83.67

Comments

Any Filipino who has foreign currency deposits in any bank, if there's nothing to hide as to corrupt practices then there should be no reason not to allow them being opened for investigation like the ongoing impeachment case against CJ Corona. Just an honest opinion.

Name: tonyO
City/State/Country: pinas
IP Address: 111.68.59.71

Comments

Steve R believes the provision of R.A. No. 6426 on the absolute confidentiality of foreign currency is bad and officials behind its enactment into law “were crooks, consumed with greed.” Adre this proviso was introduced during the early Martial law days of Marcos, but Cory Aquino and her allies did not amend or repeal it since 1986 until now. They are also corrupt and the crooks?

Name: Godzilla
City/State/Country: Philippines
IP Address: 204.23.162.83

Comments

I hope the president and congress will put it in there agenda to repeal this bank rule. Or, let the people decide via referendum. "Ang dalas naman mag eleksyon sa PI". The repeal of the bank rule should be retroactive from 1972 onwards. The sad thing about the current Philippine government, the Marcos cronies are alive and well. I bet you 1 dollar Bongbong Marcos and Jejomar Binay will both run for president. The Filipino people will just have to pick the lesser evil. The Filipino people forget and forgive easily.

Name: Manuel C. Diaz
City/State/Country: Montclair CA USA
IP Address: 76.174.219.92

Comments

I will wager that come Monday the Senate will defy the TRO. The big problem now is can the Senate now cite the PS bank for contempt if it refuses to surrender the US$ account of Chief Justice Corona? Can the Senate grant immunity from criminal prosecution just like the US Senate granting immunity to Col North and Defense Secretary Poindexter during the Iran-Contra investigation? Will the Philippine Military now invoke the specter in the Cory Constitution that states "the Military is the protector of the people?" Will the US intervene if the military will make its move just like what the US did during the attempted Coup against Cory when US F4 jets were used to prevent the TORA-TORA from bombing Malacańang Palace? ABANGAN. BTW I am going to the Islas de ladrones to see all these scenarios unfold.

Name: mockingmaya
City/State/Country: taft avenue, manila
IP Address: 67.182.75.243

Comments

I do agree with the PNL editor that honest Filipino citizens don't need the Foreign Currency Deposit Act of 1974. It is a symbol of corrupt banking institution for some greedy & dishonest judges, politicians & businessmen. In fact, the SC TRO ruling to ignore Corona's ill-gotten dollars is a symbol of a backward & antiquated judicial institution or democracy itself. When Ateneo University produced a plagiarist SC justice, it is a sign of vanishing intellectual integrity, honesty, decency, impartiality & legitimacy. It is an insult to collective wisdom of the Filipino people. It can't be cured by Father Bernas invocation that "the SC has the power to stop the Senate trial of impeachment." It means a SC Chief Justice can break the law.

Name: Manuel C. Diaz
City/State/Country: Montnclair CA USA
IP Address: 76.174.219.92

Comments

As I said before in Islas de ladrones Justice is for sale to the highest bidder. If you have no money and you are facing a criminal case this public defender appointed by the judge will first ask if you have money if your answer is no this lawyer will tell you "aminin mo na lang" We call this group of lawyers Atty Amin. That is in the lower court, in the Court of appeals it is the highest bidder then you go to the Supreme Court another bidding process. In the province of ABRA litigants do not go to court they just shot each other in the street. Just look at the late Congressman Bersamin assassinated in Sto. Domingo Church while attending a wedding, the mastermind was the former governor of Abra who is now in jail.

Name: Aida
City/State/Country: Canada
IP Address: 206.116.218.35

Comments

Blame Marcos Again!!! Just take a look at all Politicians and find out how they got rich? The Philippines has gotten worst since Marcos ruling. The country need to slow down its population growth...women keeps having babies that they cannot afford to support. wake up Filipinos. do Not Blame Marcos for your Failure!

Name: Mike M. Moreno
City/State/Country: Richmond BC., Canada
IP Address: 174.6.120.197

Comments

My many friends who moved here from Spain, French, United Kingdom and from Oriental countries mentioned to me that a small country like the Philippines have so many laws, some are forgotten, some aren't being enforced but what "amazed" them are two good laws. 1) Laws prosecuting criminals. 2) Laws protecting criminals and our take is, one of their target is the "Kataastaasang Hukuman sa Pilipinas" being a "safe place" for crooks, thieves, liars and opportunist as a convenient door towards enriching themselves while in Office like Supreme Court Chief Justice Renato C. Corona. A need for Philippine lawmakers to do something about it is timely because if they don't the Philippine government might some day named by the world community of people as a "Nation of Thieves."

Name: A. Poli
City/State/Country: Anywhere
IP Address: 184.148.77.225

Comments

I would have agreed with the editorial if opening the account is to really seek for justice. The problem is its being used for persecution and revenge. This is despicable. Be careful what you pray for because it might be granted to you. :)

Name: A. Poli
City/State/Country: Anywhere
IP Address: 184.148.77.225

Comments

After Marcos the rules on foreign accounts are there. Why didn't the revolutionary government that took over repeal that law despite all justices replaced by the same government? Why? ......these guys are fooling everyone under their noses!!!

Name: kali
City/State/Country: Hawaii
IP Address: 66.91.35.33

Comments

To look at the dollar account of an impeached official, he/she has to give written permission (period); that’s the written law, and the TRO issued by SC followed that simple interpretation. Here is the deal; Congress make/amend the law, Supreme Court interprets the law, and Executive executes the law. Now look at the situation we are now. Who is at fault? Congress at fault ‘student”. Get these pork too much barrel Congress people do their job, amend the law. But, all this time they have been a failure; from prosecuting their own witnesses, claiming 45 properties of CJ Corona but nothing to show, to a ghost “small lady”. Shame, shame, the President should whip these leeches and take away their pork in the barrel and give them minimum wage, that’s what they deserve apparently.

Name: 7gtg
City/State/Country: regnk
IP Address: 24.89.83.99

Comments

After Marcos Martial law, I believe they had passed laws to fix the problem. --- Or mainly to prevent another future dictatorship to happen in the country. And those actions by the lawmakers seem to be serving its purpose. I don't mind corruption that much. It is less dangerous than allowing the birth of another dictatorship government. My nieces and nephews back home had found 'hope' in the home country not too many of them consider working overseas even. I think this will change as the country enters another era of one-man rule.

Name: 7gtg
City/State/Country: regnsk
IP Address: 24.89.83.99

Comments

Greg of Daly City: " Have all the Senators and Congressmen repeal this Bank Secrecy Law.." Better yet, freeze all dollar accounts, and then repeal the Bank secrecy law". This way the senators and congressmen will all be investigated as well.. and the country will rot in hell for not doing anything at all but investigate itself.

Name: Kanada
City/State/Country: Kanada
IP Address: 99.226.123.71

Comments

It appears the prosecution and the SC are in a deadlock. The Senate Judges should obey the SC TRO. WHY? Look at it this way, the Prosecution (Congressmen) are in a serious quagmire. They assume, only CJ Corona's bank accounts should be investigated. With the violation of RA 6426, then that means the bank laws of secrecy and confidentiality is moot and some people will be breaking the law. Therefore they should amend the law and repeal RA 6426. But I bet you 1000% that they are not going to. Why? Of all the 188 congress people and all the Senators in office now, I will bet you 1000% that half of them at least have dollar accounts and probably a lot of them obtained illegally.

Name: mockingmaya
City/State/Country: taft avenue, manila
IP Address: 67.182.75.243

Comments

Some corrupt politicians, judges & bureaucrats know that secrecy, including secrecy law on foreign currency, "is one of the familiar tools of repressive power & corruption. But it has its virtue, a scholar writes, " it is essential to protect military secret." I think Chief Justice Corona's secret dollar account has nothing to do with national interest---military secret. If Justice Corona can lie about the accuracy or truthfulness of his SALN, he can use every letter of the law to engage in deception & create a greater lie or a greater evil.

Name: tonyO
City/State/Country: pinas
IP Address: 111.68.59.73

Comments

1 UP asked for my comment on “what is the rationale of preventing the government prosecution from getting copies of Corona's banking records / activities other than the harm it could cause that Corona lied by understating his true networth?...” Adre, the subpoena violated Section 8, R.A. No. 6426 which provides that foreign currency bank deposit shall be “absolutely confidential,” hence, the SC TRO is ok. Everyone must respect and defend the law. If a bad law, only Congress is empowered to amend oer repeal it. The Senate Impeachment Court is not empowered by the Constitution to enact laws. Search for truth must be lawful. You cannot do anything in search for the truth.

Name: mockingmaya
City/State/Country: taft avenue, manila
IP Address: 67.182.75.243

Comments

I think the SC decision (TRO) on Corona's dollar account is vague. One of the arguments in US v. Nixon: "The ends of criminal justice would be defeated if judgments were to be founded on a partial or speculative presentation of the facts. The very integrity of the judicial system & public confidence in the system depend on full disclosure of all facts, within the framework of the rules of evidence. To ensure that justice is done, it is imperative to the functions of courts that compulsory process be available for the production of evidence needed either by the prosecution or by the defense." I think the bank secrecy law on dollar account "can't prevail over the fundamental demands in the fair administration of justice." See Cutler, pp. 723-728.

Name: Vanessa Lee
City/State/Country: Kuwait
IP Address: 94.128.133.109

Comments

The Administration should revisit the Constitution and abolish the RAs that help and rescue those erring public servants to drain our country’s treasury. I regard this as heinous crime act. These are the culprits former CJ Narvasa’s 1992 Res. A.M. 92-9-851 RTC and Marcos’ RA 6426. Just for their glory, no matter whatever is the consequence. Unless these rulings still exist, the people continuously leave the same hardship, new president will come and go – Mr. President I believe the sanctity of your Agenda of Reform, with due respect please act.

Name: tonyO
City/State/Country: pinas
IP Address: 111.68.59.74

Comments

I agree that the absolute confidentiality of foreign currency deposit under R.A. No. 6426 is deplorable – it is a bad law. But it must be respected until repealed or amended by Congress. The doctrine is “Dura lex sed lex.”

Name: 1 UP
City/State/Country: GOTHAM CITY
IP Address: 74.101.61.3

Comments

Pablo Gomez: This much you should know about bank deposits in the United States. The banks report to the Internal Revenue Service (the equivalent of BIR) all individual deposits above $10,000 and other large cash deposits which are often seen as suspicious. Large amounts made by individual depositors are dirty money in all shape or form. Those who see them differently are not naive but insane whose head need to be examined. In the Philippines, banks serve as Laundromat and in cahoots with dirty politicians or public officials. The PD issued by Marcos on the secrecy of bank deposits was meant to benefit Marcos and his cronies and shield all of them from criminal action and punishment. If you disagree, ask again for an MRI of your head!

Name: GFJBHEDF
City/State/Country: Hercules
IP Address: 67.188.19.40

Comments

Will the senators and congressmen now second the motion, and call upon all lawmakers, and upon each other, and truthfully, seriously, honestly exterminate/rid of corruption in all branch of government, by supporting senator Escudero, and pass SB 107 now? Senator Escudero, thank you po for stepping forward, and challenging your co-lawmakers to put their money where their mouth is. We shall now see how many of them are for real, and how many are all mouth and dishonest.

See the postscript on the bottom of our current editorial for more info about SB 107 - PNL

Name: Phil Researcher
City/State/Country: LA County, CA USA
IP Address: 98.119.17.19

Comments

RE: Waiver of constitutional official of right of Impeachment court or courts handling anti graft cases--An additional paragraph in the Oath of Office of all court Judges and Justices. "My taking oath and acceptance of this position also includes a waiver on my part to any bank secrecy law. I hereby sign my oath of office on the further understanding that the BIR or relevant government entity investigating me has the right to examine by bank accounts for the purpose of confirming my SALN every year." There you are no amendment of any law but an amendment of the oath of office of any public official. This will erase the possibility of hiding from the public their bank accounts.

Name: 1 UP
City/State/Country: GOTHAM CITY
IP Address: 74.101.61.3

Comments

After Marcos was deposed, he left so many rules that are still the law of the land. The same could be said of chief justices whose opinions, memos and resolutions weakened the country's juridical system instead of strengthening it. From that time and up to now, Congress was debating on irrelevant and trivial matters and so obsessed with investigations that lead to nowhere. Laws riddled with holes and vague language still remain untouched and preserved. The court that has lady justice as its symbol is now seen wearing signature shades and the the scale that symbolizes truth and fairness was deliberately rigged by the men in black robes. When there is no blind justice, the other alternative remaining is divine justice.

Name: Kanada
City/State/Country: Kanada
IP Address: 99.226.123.71

Comments

First impeachment of Corona, then they plan to move on to Del Castillo. Now Farinas is threatening to impeach 8 more Justices for issuing the TRO to stop the Senator Judges from opening the Dollar accounts of Corona. During his term, Pnoy wasted the PORK BARREL money on nothing but the impeachment trials. Congress should instead amend the Foreign Currency Deposit Act of the Philippines or the Republic Act (RA) 6426 by revoking the absolute confidentiality conferred upon foreign currency deposits. This will solve the issue immediately but I bet they wont. Why? A lot of these people in politics or high ranking government officials all have dollar or foreign currency deposits. They will all hang themselves with the same rope they want to hang Corona with.

Name: As I See It
City/State/Country: Cebu City/SD,CA
IP Address: 68.8.59.197

Comments

RVERANA of Manila opines, "you speak negatively because you don't have million dollar deposits in the bank. But if you have I don't think u speak louder." Correct! In fact, some bloggers here are already suggesting the repeal of RA 6426. Where's citizen's right to privacy and confidentiality? Me-thinks in a democracy the State cannot assume a person's bank deposits are stolen or ill-gotten unless the state has very clear and compelling proof those are really stolen or ill-gotten. Just because PNoy wants to remove Corona he has the right to ask the CJ with this, "prove first that your money is not stolen." Court's dictum 'you are presume innocent unless proven otherwise' has no longer a place in the de facto dictator's administration!

Name: Todo
City/State/Country: Lanao del Norte
IP Address: 121.54.47.69

Comments

RA 6426 is an antiquated law, but 4 administrations did not repeal it. The current administration also did not. If Pnoy taught that this law is abominable, he has to order his subalterns in Congress to amend it to suit his desires. But unless amended or repealed, this would remain a good law.

Name: 1 UP
City/State/Country: GOTHAM CITY
IP Address: 74.101.61.3

Comments

Tony0 argued on PD 6426 "Cory Aquino and her allies did not amend or repeal it since 1986 until now. They are also corrupt and the crooks?" This line of argument is flawed. First, it is Congress that is charged to review all laws current and past that are defective and not Cory. Second, there was a provision in that PD that a depositors consent is needed to allow the deposits to be seen and examined. If Corona refuses to give that consent, ergo, he is hiding something. There is a skeleton in his closet. Corona is not hesitant to reveal his dollar account; he defies any order and invokes the principle of legality or constitutionality. Corona has more than a skeleton but an entire memorial park in his closet!

Name: GFJBHEDF
City/State/Country: Hercules
IP Address: 67.188.19.40

Comments

No trapo, P'Noy, senator, congressman, public official, with vested interest, in their right mind, will push/move to repeal RA6426 because it is the Philippines' in-house/built-in SACRED COW for stashing ill gotten wealth. Can you imagine the pandemonium that ensue, if RA6426 is repealed? It will bare the magnitude of corruptness of both present and past government officials. Lapu-Lapu will be so enraged, he will be sharpening his double edged bolo.

Name: GFJBHEDF
City/State/Country: Hercules
IP Address: 67.188.19.40

Comments

RA6426 is the "SACRED" vast domain of generations of crooked/corrupt public officials, and congress/executive/Judiciary, will not repeal it anytime soon.

Name: Kanada
City/State/Country: Kanada
IP Address: 99.226.123.71

Comments

Now Farinas is threatening to impeach 8 more Justices for issuing the TRO to stop the Senator Judges from opening the Dollar accounts of Corona. Imaging, the whole term of Pnoy Aquino wasted on impeachment, the PORK BARREL money was spent on nothing but the impeachment trials of the SC Justices. Congress should instead amend the Foreign Currency Deposit Act of the Philippines or the Republic Act (RA) 6426 by revoking the absolute confidentiality conferred upon foreign currency deposits. This will sold the problem immediately but I bet they wont. Why? A lot of these people in politics or government officials (mayors, governors, PNP generals, senators, congressmen) all have dollar or foreign currency deposits. They would all hang themselves with the same rope they want to hang Corona with.

Name: Kanada
City/State/Country: Kanada
IP Address: 99.226.123.71

Comments

First impeachment of Corona, then they plan to move on to Del Castillo. Now Farinas is threatening to impeach 8 more Justices for issuing the TRO to stop the Senator Judges from opening the Dollar accounts of Corona. During his term, Pnoy wasted the PORK BARREL money on nothing but the impeachment trials. Congress should instead amend the Foreign Currency Deposit Act of the Philippines or the Republic Act (RA) 6426 by revoking the absolute confidentiality conferred upon foreign currency deposits. This will solve the issue immediately but I bet they wont. Why? A lot of these people in politics or high ranking government officials all have dollar or foreign currency deposits. They will all hang themselves with the same rope they want to hang Corona with.

Name: 1 UP
City/State/Country: GOTHAM CITY
IP Address: 74.101.61.3

Comments

Had there been a FOI (freedom of information law ) in the Philippines, looking at Corona's secret dollar account would had never been an issue. Everything would have been moot and academic. Unfortunately, a lackadaisical Congress had contributed much to the current confusion and disarray on matters affecting the economy, the politics, the administration of justice, and even the social life of 90+ million Filipinos.

Name: Pete
City/State/Country: Old Town
IP Address: 69.223.104.58

Comments

Ang masasabi ko lang ay ito... The Philippines has a lot of potential. It can be an Asian tiger if it wanted to, but what is holding it back are laws that protect lack of transparency. Laws like RA6426 that protect the corrupt or make it very difficult for law enforcers to go after corrupt officials is a perfect example such law. Pinoys repeal such laws if they want their government to be able to go after those who just want to make KURAOT.

Name: mockingmaya
City/State/Country: taft avenue, manila
IP Address: 67.182.75.243

Comments

Republic Act No 6426 & SC TRO are toxic drugs to instill serious questions about the self-inflicted wounds of democratic institutions, which are unbearable & painful for the Filipinos to be borne---these are the brute facts who benefits from democracy being ruled by tyrants & dishonest judges. But this is not the Gordian knot. The wisdom of democratic accountability will prevail as long as the Philippine Republic remains a representative democracy. "Moral accountability is a light that can shine even on gods of authority, & lovers of democracy will not be harmed while pinned by its glare." Good luck fellow students of democracy. May Almighty God bless our land of birth!

Name: Sven
City/State/Country: EU
IP Address: 57.124.221.39

Comments

All concerns by the banking community about the need for RA6426 have no basis! Ayaw lang nila sapagkat mawawala sila ng corrupt customers! Malalaki pa naman ang mga dollar account ng mga yan!

Name: A. Poli
City/State/Country: Anywhere
IP Address: 184.148.77.225

Comments

While I agree the dollar account rule has to be amended, I disagree for it being used to single out the CJ. If only PNoy is doing his job properly, people do not need to be divided in this issue. He should have started looking for this types of loopholes that has been overlooked by many legislators and lawmakers. They were overlooked because either they profit from it or they were not given full attention because of too much preoccupation with politics. In short all of them are not doing their job. And now they are passing the buck to the CJ. Now is there anyone talking about RECONCILIATION? None. Is there anyone talking about apologies? None. So, continue the bickering curse. Sobrang magagaleng, parusa yan.

Name: As I See It
City/State/Country: Cebu City/SD,CA
IP Address: 68.8.59.197

Comments

DISTORTION BY BIASED PNL! It says, "the law behind the ironclad secrecy of foreign currency is Republic Act#6426, also known as the Foreign Currency Deposit Act of the Phil. It was signed into law... April Fools Day in 1974 by then PFM. The mere fact that this law was promulgated by Marcos and his minions during the early years of Martial Law should immediately make it suspect." Dear Editor, this RA #6426 is not a creation of the 'dictator of the North' FM. This Act was originally enacted on 4/4/72. Only Congress passes, enacts laws called "republic act." During martial law Da Apo promulgated laws by issuing decrees & proclamations. PDs 1035 & 1246 were the amendments made by him on the said RA6426. The main substance of RA6426 is still intact even after these PDs were issued!

Name: 1 UP
City/State/Country: GOTHAM CITY
IP Address: 74.101.61.3

Comments

Phil Researcher: Nice reporting. That settles the issue of bank secrecy. It trumps PD 4246. Great work. Saludo ako.

Name: Edward
City/State/Country: Angeles City
IP Address: 203.87.152.50

Comments

Only in the PI, where crooks pass laws so they can steal money and get away with it. You people are always crack me up.

Name: WDC
City/State/Country: California
IP Address: 64.160.205.123

Comments

Bank secrecy is only for the THIEVES. Philippine Congress can change this law if they want to. Have a vote in public so that we can tell who the THIEVES are?

Name: crisostomo ibarra
City/State/Country: alahsa, saudi arabia
IP Address: 78.93.229.5

Comments

To all foreign BIG time drug lords, gun runners, money launderers, bank robbers, kidnap for ransom, smugglers, corrupt leaders and others - welcome to the Philippines banking system because its MORE FUN to do it in our land and it is only in the Philippines that everything is possible. Bring it on whatever you had in our land of croc's, leeches, vultures, sychopants, liars and deceits where your money is absolutely safe & protected by our constitution & assured by our supreme court to fight & defend your right of secrecy even its obviously wrong just to follow the law crafted by our law maker, breaker & misinterpreter. Ignore Swiss banks, you are more absolutely safer in our banks backs by supreme court CJ & his cohorts with zero wisdom but whom you can trust. What you are waiting for?

Name: GFJBHEDF
City/State/Country: Hercules
IP Address: 67.188.19.40

Comments

Some correction need to be made regarding SB 107 authored by senator Escudero in 2010. After reading it, I find it seriously deficient. The expose it sought pertains to "civil service" employees only. A better bill that encompasses all three branches of government is needed, that allows the ombudsman to look into all bank accounts of all government officials being investigated, foreign and domestic.