New issue against Villar

Philippines
April 23, 2010 6:40pm CST
This time Erap is the one to bring it up. Erap accused Villar of using his influence to twist stock market rules. Villar sought the release from escrow of about billions of shares of Vista Land & Lifescapes, Inc. so that they could be offered as primary and secondary shares at the same time in violation of the 180-day lockup period. Villar, during the time that he was Senate President, stormed an SEC meeting and demanded that the rules be bent in his favor. As a result, he made a killing from the sale. Okay, so the report is too technical for us laypeople. Suffice to say that he went there when he was the Senate President and asked favor for a private company. Now he is saying again, that it is a private matter. What?!!! What is his problem? Is he incapable of explaining? This is why I do not like this guy. He does not answer issues directly! This time he wants Vista to explain. What? Explain his actions as public officer? Really? I have not read any post here in mylot defending Villar. Does he have supporters here? How do you explain this latest issue against him? For the non-supporters, do you think this was unethical conduct on his part? Is the issue valid?
18 responses
mcnash
@mcnash (19)
• Philippines
24 Apr 10
I have a very bad feeling about this guy. What is he going to do to improve the Philippines' current situation? Treat everything like how he treat his real estate deals? I believe in his sipag and tiyaga platform but with all the attacks on his integrity and character there is no way he is going to earn my vote. I would play it safe and just vote for someone with better character. I am hoping that whoever wins the Presidential seat will not be like the current president. The most honorable Madam Gloria who has made a new record of being the most dirty and most corrupt president of the Philippines. Whatever is she going to do with all the money she has gained for being Madam president when she's got no integrity and character left? What she lacks in height she makes up with cunning. I am hoping that the next president will have the heart and soul to look at every single Filipino straight in the face and consider each one of us every time he makes a decision, everytime easy money crosses his path, everytime he travels to other countries and eat the juiciest steak in the most expensive restaurant.
TheAdvocate
@TheAdvocate (2392)
• Philippines
24 Apr 10
I couldn't have put it better myself. I wouldn't mind if he transfers all his business knowledge into improving our country. But the thing is, aside from hard work and patience, the man at our helm has to have integrity. The difference between running a business and running a country is that the business belongs to you. This cannot be said of a country. It belongs to its people. As to GMA, what can I say? The most unpopular president in history. I wouldn't mind her unpopularity, but she has not left any legacy to our country at all. She is leaving the economy in shambles. The irony is not lost on me, that an economist messes up the economy.
Cherwin2010
@Cherwin2010 (878)
• Philippines
24 Apr 10
i respect to your right., we have the right to choose which we think the best president to our country., anyway we are in the democratic country, and this thing will give us freedom to choose what the best for us., but if you ask some question to a people of what do you want to our leader as of now? as they say must be pro-God, pro-people, pro-country., so here it is! our cry! why we just don't give a chance to other., those who not yet experience being a politician yet they are capable too, they are willing to serve our country, have concerned to poor people and most of all they are Christian.,its time to make a change, let us give other a chance and let's try and see what they got. i am tired of hearing each other issues, putting one sin to another.,for me i prefer to vote those new politician., experience doesn't matter., willingness and discernment is very important.,
TheAdvocate
@TheAdvocate (2392)
• Philippines
24 Apr 10
Yes, of course we need someone who is pro-God, pro-people and pro-country. Our country badly needs a leader who will put God and country before everything else. They all claim to be that kind of leader. Plus he needs to have leadership skills to unite our fractured nation.
krisnel
@krisnel (498)
• Philippines
24 Apr 10
there are so many issues against manny villar but my question is why does this issues never come out when he is not yet running as a president. i am not a supporter of villar. but it think that villar is a big threat for the other presidentiable candidate. thats why they are throwing some issues on him.
TheAdvocate
@TheAdvocate (2392)
• Philippines
24 Apr 10
He is a threat because he has a lot of money to try and bury the issues. The C5 issue has always hounded him, and he has never answered them. It only looks like they are new, but these are actually rehashes of old accusations. The problem with him is that he has never answered them to the people's satisfaction, and so now, since he is running, he has to be transparent to win the votes of the people.
rene12
@rene12 (794)
• Philippines
24 Apr 10
My opinion is cut into two so I am not sure if he is worthy. First is Manny Villar already is a billionaire and considered as one of the richest Filipino. I think that going further in being a president just to earn more money is no that applicable so why don't we give him a chance on what are his plan to make our country rise right? but the point is, it is not like he will pay the debt of our country with his own money. Second, from the things that presidentiables done, Gordon got the upperhand. He has been active in helping fellow Filipinos too, what will Manny Villar boast in terms of works? Even so, I don't want to vote for him. He is not yet a president but allegations and scandals are coming from left to right and even coming right in front of his face. What more will happen if he will become our president right?
TheAdvocate
@TheAdvocate (2392)
• Philippines
24 Apr 10
I am also of two minds with your opinion. :) I do not agree with you that Villar is no longer interested in making money just because he is already a billionaire. You can never put a lid on greed. The more a person has, the more he wants. At what point can you say that he will no longer try to earn more money off our coffers? I agree with you that we should give him a chance. Isn't that what the election is about? He should prove first that he is deserving of the presidency. I have observed that he has been a lot of help with the OFWs. Cynical that I am, I feel that this is his marketing strategy for the presidency for who among us do not have an OFW relative? I agree with you that Gordon is the better choice. He is mine too. I just wish that he would stop being so brusque so that voters will not get turned-off!
Saranggola
@Saranggola (956)
• Philippines
24 Apr 10
If I were to choose between Villar and Aquino, I'd rather go for Erap. LOL. Anyway, it's because people, when they get old would tend to do anything just to correct their past mistakes. I wish that is what he will do.
TheAdvocate
@TheAdvocate (2392)
• Philippines
24 Apr 10
He is the oldest candidate in this election. I wish that were true though, but he has vendetta all over his face. He was humiliated totally when he was driven out of Malacanang. The only battlecry he has these days is that they cannot do it to him again. I doubt if he will grant your wish... sorry.
juancarloboss
@juancarloboss (137)
• Philippines
24 Apr 10
well, money trading is a big form of business, so what manny villar did is he is business minded.
TheAdvocate
@TheAdvocate (2392)
• Philippines
24 Apr 10
Sure, you can say that. But he should not use his position as Senate President to promote his own interests or force government officials to do his bidding. There are ethical considerations in this situations, and Villar has crossed the lines more than once.
dorisday1971
@dorisday1971 (5657)
• Philippines
24 Apr 10
That's the problem if one is so powerful that he can twist even the hard and fast rules. Well, if Villar will become President of the Philippines, what else will he do?
TheAdvocate
@TheAdvocate (2392)
• Philippines
24 Apr 10
Please don't scare me, I'm already scared.:) That is the scary part. There are a lot more insidious things he can do if he becomes President. He has shown time and again that he is capable of ignoring the law when it suits him. He is prone to exaggerations (like his claim to poverty).
drakesuyat
@drakesuyat (1063)
• Philippines
24 Apr 10
hayzzz...to each his own... so who's the cleanest of them all now?
TheAdvocate
@TheAdvocate (2392)
• Philippines
24 Apr 10
Perlas? :)
jlamela
@jlamela (4898)
• Philippines
24 Apr 10
I finally convinced that Villar is another version of President Arroyo once elected. Every report against him accusing of corruption, manipulation, land grabbing and God-knows-what-else, sound very true because he could not directly answer all those questions thrown to him--very much like the first couple--that's why I am horrified right now if ever he won, goodness. This man has too many ghosts hidden in his closet.
TheAdvocate
@TheAdvocate (2392)
• Philippines
24 Apr 10
He has closetfuls of ghosts in his one-block mansion! That is why I believe that he is the real candidate of GMA, and not Gibo. You know what they say, birds of the same feather...
strawberrychocodahi
@strawberrychocodahi (4818)
• Philippines
24 Apr 10
I am not surprised at all . I have heard enough of controversial issues that he alone cannot support answering much, I mean on details. I'm sorry to say but I will never vote a candidate whose integrity and morality is in jeopardy. I have had enough of his commercials all over the news, online and newspapers, it makes me want to . Can't people see clearly that he was just showing what the nation will never be able to taste just in case he will be into power, but I really doubt it, not unless there will be a massive cheating again this coming elections, hope this will not happen to our nation. I do encourage people to please vote wisely with a strong conviction in heart who is qualified to run as our leader, say no to corruption and injustices. This is just my opinion, I respect others here. Happy Mylotting.
TheAdvocate
@TheAdvocate (2392)
• Philippines
24 Apr 10
That is true. He is big on promises and stingy on explanations. He likes to order other people to explain for him. Why can he not do it himself? He is suppose to be intelligent. Did somebody cut off his tongue? His integrity indeed is in question. He keeps saying that he is being attacked by his opponents for political reasons. Well, there is reason to attack his integrity. I am also tired of his commercials.
ybong007
@ybong007 (6643)
• Philippines
24 Apr 10
I can't really understand the technicalities involving shares or any SEC rules. I guess those are for the professionals in the field only. The only thing that is clear to me is the word unethical. Time and again, Villar has done things for his own interests. There's the C5 controversy, there had been allegations from Erap, Jamby, Enrile and Gordon on bribery against him, and this SEC controversy now. I don't wonder why he want's to win this elections so much, as reported on GMA7, villar was able to increase his riches by more than 1000%, yes, more than one thousand percent after he joined politics. If he was able to amass that much, how much more if he gets to control everything as president of this country?
TheAdvocate
@TheAdvocate (2392)
• Philippines
24 Apr 10
I hear you. The man is dangerous. He has no concept of public service. He does not know what ethics is. Has money made him blind to morals? The think that really irritates me is that he really does not get it. He thinks its the privilege of a Senator to do this.
louierrific24
@louierrific24 (1114)
• Philippines
24 Apr 10
That's the downside of successful people. They would try to find a way to beat the system, they'll go with the technicalities and will always find a way to maximize their advantage in a legal manner. (it was legal) Cunning is the first important characteristic that you'll need to be successful.
TheAdvocate
@TheAdvocate (2392)
• Philippines
24 Apr 10
Which Villar did so very well. I don't think that bodes well for the Philippines if he becomes the president. Marcos was cunning and look where it got us.
zim1fW
@zim1fW (285)
• Philippines
24 Apr 10
Well, let correct a few of your understanding on the issue first. It was not SEC's rule but that of the Philippine Stock Exchange (PSE) which handled the initial public offering (IPO). That lockup period protects the smaller investors from a majority shareholder who will cash in and run from them after the company was put in public, leaving the company in different and expectedly less capable management. There is no clear detail on what Villar actually did. But he did persuaded the PSE Board to make him an exemption. That's blatantly criminal, not just unethical, because that is tantamount to deceiving your investors. This is a valid issue that Villar must answer satisfactorily. But if he cannot answer C5, it is far-fetched to expect that he will this time.
TheAdvocate
@TheAdvocate (2392)
• Philippines
24 Apr 10
Oh,mea culpa. If that is the case, why did he have to go to SEC to get their approval? The news says that he allegedly crashed an SEC meeting to get their approval, but the Board refused. He was able to get around the refusal by pressuring PSE instead as this is not a government agency. Villar's one big mistake is his systematic evasion from answering issues head-on. This is a dangerous presidential quality.
knicnax
@knicnax (2233)
• Philippines
24 Apr 10
I'm not a supporter, just clarify. what I can't get with Villar is why does he have transactions with private companies? when you become a public official, you have no RIGHT to have a business, because of conflicts of interests. And in my opinion, once the senate starts a law or a project (like the c5 extension plan) isn't it the executive branch's job to carry out that plan, not the senate? he's in LEGISLATURE for crying out loud. he should be writing, drafting, hearing about laws, bills, projects. NOT DO THEM, let alone MANIPULATE IT TO HIS BENEFIT.
TheAdvocate
@TheAdvocate (2392)
• Philippines
24 Apr 10
That's true, but these senators were also the ones who made the law and so they made sure that there is a loophole. He said that it is only the president who is required to dispose of his business interests. All the rest of them are only required to disclose their interest. He is probably in power to just that...use and manipulate the laws that he helped enact.
arreolabryan
@arreolabryan (856)
• Philippines
24 Apr 10
I think he really can do it. I think more than one bad thing Villar has done. I think he has use his power more than once.
guitarz_john
@guitarz_john (10)
• Philippines
24 Apr 10
hmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm
markleob
@markleob (1902)
• Philippines
24 Apr 10
hahahahah whatever they do they are just the same,,.. heck on erap.. he is INUTILE! he better shut his mouth up...
kaye_kaye001
@kaye_kaye001 (27)
• Philippines
24 Apr 10
I'm against Villar...hehehe.. I don't really like him, because if he really wants to help the Filipino community, he should be helping those people who had no homes. Well, his housing projects were too expensive!!! I thought he want to help, then why he's selling expensive houses(it's not too striking or stunning houses he had). I would rather buy on other developers, much cheaper than him and in good quality. Maybe he's afraid of telling the truth, politics are really terrified with their status of life. I hope Filipinos would vote for the right person...