No-brainer Q on Manny Villar

Posted: April 24, 2010 in 2010 elections, Erap, Manny Villar, Philippine politics

Manny Villar trying to make a point

Would the Philippine Stock Exchange (PSE) and the Securities and Exchange Commission (SEC) have given Manny Villar the extra ‘time of day’ if he was a mere private citizen and not the Senate president in 2007?

Villar claims he met PSE officials as a private citizen.

At the time, Villar met with the PSE board in June 2007 when he was the Senate president and called SEC officials regarding a now-controversial (secondary) public offering of shares of his real estate firm, Vista Land & Lifescapes, Inc.

Now, Villar claims he did not violate any law since the PSE was a private entity and that the latter had the discretion to waive the so-called 180-day lock-up rule on the shares his family owned.  He also ‘explains’ that government did not lose any money from the deal.  In fact, he claims that government earned more than P100 million in taxes from the public offering.

The Vista land issue was recently brought to the public’s full attention by Erap’s camp even if talk about the controversial public offering was percolating since last year.

What irony!  When Erap was impeached for, among others, corruption charges re jueteng pay-offs, he exonerated himself by saying no government money was involved and thus no law was violated.

Villar was the same Speaker of the House who transmitted (ala Bicol express train chu chu!) the articles of impeachment against Erap to the Senate through an opening prayer. Talk about creativity! Talk about daring!

And now the tide has turned.  In response, the Villar camp reminds us all re Erap’s Best World caper and the ‘tamaan ka ng lintik‘ warning against then SEC chair, now Bangon Pilipinas vice presidential bet Perfecto ‘Jun’ Yasay, Jr.

This may all the case of the pot calling the kettle black and vice-versa.   However, black cooking vessels may still be capable of spewing truths.

  1. rey says:

    napaka incisive naman ng mga analysis! ang galing!

    • bongmendoza says:

      salamat sa iyong papuri Rey. I will not disappoint and will continue with incisive analysis in future blog posts.


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