Pre-need big bosses salivate on stimulus plan

January 28, 2009 § Leave a comment

Pinoy Observer sensed something wrong with news that these pre-need companies are losing money. As early as August 2008, a report supposedly written by big pre-need firms suggest that a total of 46 billion pesos out of the allowable fund of 100 billion pesos has dissipated from these pre-need firms due to the so-called financial crisis. There are insinuations that pre-need firms will not be able to fund maturing policies by next year due to losses being incurred by them.

Hence, these pre-need firms are asking government to give them a slice of the billion peso stimulus package as assistance.

Question—why will these pre-need firms seek government help and use our money? Nanggagago na ang mga ito! It is their responsibility and not government nor the people. If they lost huge amounts due to their placements in Lehman brothers, they should not resort to such PR stunts to justify a possible infusion of public money into their companies. Ginigisa tayo sa ating sariling mantika ng mga dambuhalang pre-need firms na ito!

If they bungled on their investments, they should not get money from the public coffers! They should owe up to the financial mess they themselves created.

Likewise, why did the Arroyo regime allotted at least 82 BILLION PESOS for the so-called ailing real estate business? Pinapakita lang ng mga Arroyo ang mga dambuhalang real estate firms samantalang kakarampot ang ibinibigay ng gobyerno sa tunay na dapat bigyan ng agarang tulong–those ailing Philippine export companies and small and medium sized service firms.

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