THEY ARE EQUATIONS that are simple enough for anyone to follow: Anyone who acquires more properties and assets – net of liabilities – should have earned much more to be able to cover these investments. Anyone who incurs huge loans should have been creditworthy to be trusted as capable of paying up. Anyone who sells any properties should have earned from the deal, and paid the taxes due on such sale.
FOUR MORE members of the House of Representatives yesterday said they were among those wrongly named as absent — according to a list provided by Speaker Prospero Nograles to the media – during the roll call at the Session Hall last Friday, June 4, when the ratification of the Freedom of Information Act was scuttled for supposed lack of a quorum.
House Majority Leader Arthur Defensor motions to ratify the Freedom of Information Act, which was objected to by Camiguin representative Pedro Romualdo. Romualdo is prepared to be ‘condemned’ for blocking the passage of the proposed legislation as he questioned the lack of quorum in the chamber ‘as a matter of principle’.
NOBODY knows for sure how much money Speaker Prospero Nograles lost when he invested in at least one of the 12 banks under the collapsed Legacy Group of Companies. One thing is certain: Nograles had admitted he lost money in Legacy.