These Crooked Things, Remind Me of You (Erap)

All perfectly legal

I didn’t know whether to laugh or cry when I saw that there is finally to be a criminal prosecution over the BW Resources scandal. The scandal even took place last century—the worthless stock, inflated by the stale gas of Erap’s cronies, peaking on 10 October 1999. At that time it was a mere 5,000% its value the previous January.

The funny thing is that the facts are so well known and Dante Tan and Erap’s guilt so palpable that it would take a jury of 5-year-olds half a day to convict the defendants. One of the best summaries of BW is by Greg Hutchinson in Hot Money Warm Bodies. In it he identifies Estrada as a joint owner of BW, a fact that came out during the impeachment trial. He also quotes Edgardo Espiritu, Estrada’s finance secretary from June 1998 to January 2000:

“[Estrada] was a bit excited as he told me ‘Ed, I’m earning quite a lot from BW Resources.’”

You can just see old Erap drooling into his bigote can’t you?

In fact so addicted was Erap to his tumescent stock that he telephoned the chair of the Securities and Exchange Commission, Perfecto Yasay (remember him?), no less than five times to “persuade” him to clear his friend Dante Tan.

Well it may have taken over nine years for a prosecution and a revival of interest in the murder of Bubby Dacer, but better late than never I suppose. Incidentally, while pondering the incredible period of time this has taken, I glanced down to the next story, on a large sale of stock in Lucio Tan’s companies. One sentence in particular stuck out: “The PCGG has been running after Tan since 1987.” So perhaps the BW Resources prosecution isn’t so slow after all.

Comments

[Jesse Hernandez]

Dante Tan's Families resources, based on reliable sources, were came from Pres. Ferdinand E. Marcos Infinite Wealth and they became one of a giant families like Lucio Tan, Henry Sy, Jaime Augusto Zobel de Ayala, Fidel V. Ramos and other Marcos cronies who become an opposition against Marcos after Marcos overthrown on February 25, 1986 but behind all truth caused by this scandal, they're rattled beyond their legal battle in the International Court of Justice when they lost their glories and HM, King Anthony S. Martin already prevailed to amass their entrusted assets for the Filipino People.

[Amy]

Dante Tan looks disgusting.

[Sidney]

Be careful...if bigote decides to run for president he might win the race...
To this day you still have Marco's loyals (even Imelda has still a fan club) and the massa is still thinking Erap was removed from power because he was pro poor...