Most Filipinos know of the Bureau of Internal Revenue’s freeze of Manny Pacquiao’s 2.2 billion pesos in assets. The emotions run the full range with lots of it being negative towards the government’s position.
For the background of the story, I submit to you the ‘Thieves are treated better‘ article. What I will not do is get into an emotional statement on the topic. Sure, I have an opinion based on emotion but so does everyone. It will serve no purpose to share mine. However, I can share some information and points to ponder. [Read more]
Who is to blame? What events triggered it? The Library of Congress has that answer and it is quite clear. The answer is the Community Reinvestment Act of 1977, the Federal Reserve (private banking system in charge of the nation’s finances and may be unconstitutional), President Bill Clinton (Democrat) and the citizens for not keeping a watchful eye on them. To read more that spells it out as all going back to housing not the war go here, here, and here