China kickstarts trade war

According to our overseas ear-spies, China is right now building three powerful hydroelectric power plants with the capacity of 10 nuclear power plants. This is an indication that the Sleeping Dragon has just awakened, and is challenging the American Eagle as the next global economic power. Who can match cheap labor and cheap power in this planet? Brace yourselves because the infrastructure for the 21st Century trade war is going up fast. Maybe GMA can suggest to President Bush to write off debt for the Bataan Nuclear Power plant so the country could funnel the savings for a hazardous and toxic waste facility that will allow investors to be ISO 14000 certified.

Untrust Banks

According to our ear-spies, "top dogs" of an Asian trust bank are now facing multiple charges related to estafa for allegedly using (or rather, abusing?) more than P20 million of a single family’s lifetime savings into an investment endeavor that has gone down the tubes. The email sender divulged that the family – along with her 96-year-old grandmother – was "lured" by the bank’s trust account officers into what they assured them were safe and sound investments. Barely three months after, imagine the family’s surprise when these same officers told them they have lost all their money and that the bank will not be responsible for it. After some thorough research, the family found out their money was "invested" into a single company rather than spreading the "risk" around. "This is a blatant violation of Section 1401 of the said CB Manual of Rules, which states that fidelity, confidentiality, scrupulous care, safety and prudent management are the cardinal principles upon which trust activities are predicated upon," according to the email sender. The family is now seeking the Bangko Sentral’s help about their problem.

Bureaucratic Merry-Go-Around

It was confirmed earlier by one of our ear-spies that a new lady undersecretary for Civil Relations will be making her move from DILG to the Department of National Defense. This is with the hope of improving "and softening" the image of the military, which is getting a lot of flack from certain sectors. When DTI Secretary Mar Roxas resigns to run for the Senate soon, he’ll be recommending one of his undersecretaries to take his place. Expect top changes within government agencies as the 2004 elections draws near.

Honasan in Mactan?

Very reliable eye-spies revealed that Gringo is in Cebu, and has been sighted also in a hidden subdivision in Guadalupe. Those monitoring him should coordinate with elements from Camp Lapu-Lapu. Contrary to reports in the press, the Senate allegedly did not postpone its hearings on the Makati mutiny because it was being "circumspect" until the government had put the "residual threat" under control. According to our ear-spies, they overheard that the president personally called the Senate President, asking him to put off the hearings.

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