The Bombing of Mindanao State University in Iligan City and its adverse impact on the country's economy
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01:12 Alabama.
01:17 Illegal. State University.
01:24 terrorist.
01:32 Christian masks.
01:38 and the inside the campus.
01:57 Alabama State University.
02:08 and 15 minutes.
02:17 improvised explosive device. IAD.
02:22 improvised explosive device. IAD.
02:22 improvised explosive device. IAD.
02:27 Okay.
02:32 casualties.
02:36 This is very unfortunate.
02:43 and arrival. the hospital.
02:52 medical center. and then I do.
03:00 medical center. and then I do.
03:00 medical center. and then I do.
03:10 terrorist group.
03:15 Islamic State.
03:21 and then I'll state university.
03:31 and the impact. President.
03:50 the Philippine National Police.
04:04 and conflict. It's all the time.
04:23 and then. and then. and then.
04:33 another round of bombings. and
04:41 another round of bombings. and
04:41 another round of bombings. and the Kabbalah. Muslim in. Okay.
04:47 the Kabbalah. Muslim in. Okay.
04:47 the Kabbalah. Muslim in. Okay. and then. another possibility.
04:53 another possibility. another
04:53 another possibility. another round of violence.
05:01 Muslim brothers.
05:15 the city is almost level to the
05:20 the city is almost level to the
05:20 the city is almost level to the ground.
05:26 the city is almost level to the
05:45 Marawi. then President Rodrigo.
06:00 because they are going to
06:02 because they are going to
06:02 because they are going to reconstruct. Marawi. a much
06:06 reconstruct. Marawi. a much
06:06 reconstruct. Marawi. a much more.
06:17 but the rehabilitation and
06:18 but the rehabilitation and
06:18 but the rehabilitation and reconstruction.
06:27 I'd like to go back.
06:40 President Junior. just came
06:42 President Junior. just came
06:42 President Junior. just came from his foreign trip to the
06:45 from his foreign trip to the
06:45 from his foreign trip to the United States. specifically
06:47 United States. specifically
06:47 United States. specifically San Francisco, California.
06:51 San Francisco, California.
06:51 San Francisco, California. Pacific Economic Summit.
06:56 during the side conferences.
07:05 businesses. investors. America.
07:10 businesses. investors. America.
07:10 businesses. investors. America.
07:17 the Philippines.
07:23 and that would mean investments
07:24 and that would mean investments
07:24 and that would mean investments that would create jobs,
07:26 that would create jobs,
07:26 that would create jobs, revenues, more money and
07:29 revenues, more money and
07:29 revenues, more money and resources and circulation in
07:30 resources and circulation in
07:30 resources and circulation in the Philippine economy.
07:34 So, I'm going to go back to the
07:52 the the ground zero.
08:07 the Philippine government.
08:15 but it resulted into the
08:17 but it resulted into the
08:17 but it resulted into the destruction.
08:22 and I'm afraid.
08:30 the area.
08:38 and I'm pretty familiar with
08:39 and I'm pretty familiar with
08:39 and I'm pretty familiar with this place.
08:44 was from the now.
08:49 or the homestead claim.
08:56 was declared as a promise.
09:06 opportunity.
09:09 and the.
09:29 the.
09:34 and Mariano was the older brother.
09:36 and Mariano was the older brother.
09:36 and Mariano was the older brother. of congressman Ramon Dorano.
09:39 of congressman Ramon Dorano.
09:39 of congressman Ramon Dorano. So.
09:44 with his wife.
09:49 and
10:00 and again, I'm pretty familiar.
10:04 In fact, one of the strange
10:06 In fact, one of the strange
10:06 In fact, one of the strange memories I have.
10:11 I really love the smell of the
10:13 I really love the smell of the
10:13 I really love the smell of the smell of the
10:18 and
10:23 for a long time.
10:28 and the order.
10:37 principal.
10:41 good for agricultural.
10:43 good for agricultural.
10:43 good for agricultural. production.
10:51 and general.
10:58 in three to four months.
11:06 and harvest.
11:26 labor intensive.
11:36 and that has been the story.
11:38 and that has been the story.
11:39 and that has been the story. way back 1960s.
11:42 2023.
11:51 So this is unnecessary.
12:15 and if you choose to worship.
12:17 and if you choose to worship.
12:17 and if you choose to worship. your god.
12:21 your god.
12:25 and which is definitely.
12:37 the name of god in vain.
12:45 and unfortunately.
13:05 and it has nothing to do with religion but it has everything to do with politics.
13:14 and unfortunately.
13:16 and unfortunately.
13:36 and unfortunately. investment opportunities in the Philippines.
13:41 because while this happened in Iligan City. I don't want to sound like.
13:51 but as we say.
13:54 in this world. money is the most cowardly commodity.
13:59 and investors.
14:07 major cities.
14:09 they wouldn't want to risk their money.
14:11 and their businesses.
14:13 and whatever resources they have.
14:15 instead of the Philippines.
14:20 I'm not saying.
14:23 that there are possible side effects.
14:29 apart from.
14:33 the Muslim Brothers.
14:54 as a regional training center.
15:20 and the country center for excellence in teacher education.
15:24 and center of development of information technology.
15:29 and the education.
15:50 and the.
16:06 and the.
16:26 and the.
16:49 and the.
17:18 and the administration.
17:21 with Rodrigo.
17:25 the golden child of Davao city.
17:28 that will deliver to the people of Mindanao.
17:32 and I would say.
17:34 deliver to the people of Mindanao.
17:36 number one.
17:40 peace and order.
17:42 number two.
17:43 infrastructure.
17:45 and number three.
17:47 investors confidence.
17:52 okay.
18:21 and who will enforce that.
18:22 okay.
18:24 if we cannot address the concerns.
18:27 investors confidence.
18:30 in Mindanao.
18:32 why investor.
18:34 may it be a local or an international investor.
18:37 there will not be enough resources to stimulate.
18:40 the economy of the place.
18:42 backwards.
18:45 backwards.
18:51 backwards.
19:05 Okay.
19:33 I'm not saying it's not true. I'm saying that the politicians are not true. The politicians are not true. The politicians are warlords.
19:44 They even have a private army. They are cornered by the government budgets. Did that development trickle down to the Filipinos? I beg to disagree.
19:58 That's the problem. If we don't have bombs, the people will die. The people will die. The terrorists will die.
20:15 But I don't want to conclude yet because it's too early to call a terrorist group. We cannot attack the people.
20:31 From Carmelita Troya, the one who died in the bombing and the one who was injured is in the hospital. That's a pity.
20:41 Madam Carmelita, the innocent civilians are suffering. The problem is that the Muslim community is not present. They are the ones who are responsible. This could create more friction.
21:04 Our communities, the bigger impact will be on the economy. Hopefully, this investigation will be done.
21:19 Again, this problem is as old as time. There are many problems. I hope President Bongbong Marcos will look outside of the box.
21:33 He will look for a solution that will work. They want it. The secessionist movement that is growing in the Philippines,
21:46 there is no trend around it. The movement is not growing. If not, the trend of the movement, just like what happened in the European Union,
22:01 in the EU, will be the trend of regional integration. So I hope in the future, peace and order will be established.
22:15 We are not just waiting for a solution. Long ago, it was pursued by President Magasin, even Fidel Valdez Ramos, who is a product of West Point,
22:32 with the ambition of SPCPD, Southern Philippines Council for Peace and Development, to solve the problems of the MNLF and MILF.
22:46 There are many groups, but at the end of the day, it will not solve the problems of the MNLF. I would say, if you will think outside of the box,
23:02 if you will think outside of the box, it is better to have regional integration and the association of Southeast Asian nations,
23:13 economically, to solve the problems of the economy in Indonesia, Malaysia, the Philippines, Thailand, Singapore,
23:22 or even as a regional bloc. That's why I'm asking Muslim groups to join Malaysia.
23:32 I'm asking them to join Malaysia, the Philippines and the economy in Malaysia, to join, to have regional integration,
23:42 like that of the European Union, where the currency is. Again, this is an ambitious statement on my part.
23:50 But I would say, I think it's a better approach. It's not easy. I want to convince you that we are good at this, the Filipino people,
24:02 how much more of the other side of the story.
24:06 But history-wise, I would like to remind our viewers that as early as 1960s, when Malaysia obtained their independence from Great Britain,
24:21 Malaysia offered the Philippines, "Hey Philippines, we all look like brown brothers."
24:38 The greatest genius of the Malayan race acknowledged to the Malaysian people that Jose Misal is different from the other people.
24:52 They said that this is the only country in the Philippines that is not Malaysian. The Philippines torn down the offer, my friends.
25:01 So much for that. I hope moving forward, if we think outside of the box, we will find a solution to the problem.
25:11 But we should not be afraid of local complaints. We should be aware of the problems. We should not be afraid of the problems.
25:30 We should not be afraid of people's complaints. We should avoid scams, frauds and lies. We should be aware of the Sunstar, specifically because it's our help.
25:44 We should not be afraid of the Sunstar. We should avoid scams, frauds and lies. We should avoid scams, frauds and lies.
26:03 We should avoid scams, frauds and lies. We should avoid scams, frauds and lies.
26:28 We should avoid scams, frauds and lies. We should avoid scams, frauds and lies.
26:57 We should avoid scams, frauds and lies. We should avoid scams, frauds and lies.
27:04 We should avoid scams, frauds and lies.
27:07 We should avoid scams, frauds and lies.
27:15 We should avoid scams, frauds and lies.
27:35 We should avoid scams, frauds and lies.
27:58 We should avoid scams, frauds and lies.
28:25 We should avoid scams, frauds and lies.
28:28 We should avoid scams, frauds and lies.
28:31 We should avoid scams, frauds and lies.
28:34 We should avoid scams, frauds and lies.
28:37 We should avoid scams, frauds and lies.
28:40 We should avoid scams, frauds and lies.
28:43 We should avoid scams, frauds and lies.
28:46 We should avoid scams, frauds and lies.
28:49 We should avoid scams, frauds and lies.
28:55 We should avoid scams, frauds and lies.
28:58 We should avoid scams, frauds and lies.
29:01 We should avoid scams, frauds and lies.
29:04 We should avoid scams, frauds and lies.
29:07 We should avoid scams, frauds and lies.
29:10 We should avoid scams, frauds and lies.
29:13 We should avoid scams, frauds and lies.
29:16 We should avoid scams, frauds and lies.
29:19 We should avoid scams, frauds and lies.
29:22 We should avoid scams, frauds and lies.
29:25 We should avoid scams, frauds and lies.
29:28 We should avoid scams, frauds and lies.
29:31 We should avoid scams, frauds and lies.
29:34 We should avoid scams, frauds and lies.
29:37 We should avoid scams, frauds and lies.
29:40 We should avoid scams, frauds and lies.
29:43 I was surprised when I read that they want to legitimize the pre-need code as a special law.
29:51 So it's a violation.
29:53 It's not illegal, homonymous or illegal.
29:57 You can just restore it and correct your illegal actions.
30:06 The fact that it's legal should be shut down.
30:10 So Attorney Dias, did you say that the insurance commission did this?
30:15 Yes, the insurance commission did this.
30:17 In fact, we received the letters from the insurance commission via email.
30:22 They are the official letterhead that will help you.
30:25 So I was surprised.
30:26 I complained to them and they helped me back and forth.
30:29 The problem with this is that unlike the SEC, they are very strict.
30:34 So now, actually it's been 4 years.
30:38 But for me, Attorney, that is very anomalous.
30:42 You mentioned that they cannot make something illegal legal.
30:49 They ignored it because they have a complaint.
30:53 The fact that they have a complaint, they should have not gone to business.
30:56 Correct.
30:57 They have a business permit with a deficiency.
31:01 So it's a violation of the code and it's criminal in nature.
31:08 You can't just say that you will correct your deficiency and comply to legitimate it.
31:16 You can't.
31:17 This is a special penal law.
31:20 The fact that you have committed it, you're a criminal.
31:24 You have violated the law.
31:26 Precisely. Without any regard to the intent, the mere violation of the law, it's criminal in nature.
31:35 It's not regardless of the intent, unlike violations of the revised penal code.
31:41 So the insurance commission should be strong because there are many complaints.
31:49 It's not just specific.
31:51 There are many fly-by-night trainees who have gone to business.
31:56 They cannot resolve it.
31:58 If they have a pending complaint, they should correct it.
32:03 They should send a message to the public that it's okay to make something illegal.
32:07 Later on, they should go to the insurance commission and correct it.
32:11 You should be strong.
32:14 Attorney, I agree with you.
32:16 When you mentioned the insurance commission, are we talking here about the regional level in the central Visayas or Cebu?
32:23 Or this is already the top level insurance commission that you're dealing with?
32:27 National. If you look at the one who sent it, if I'm not mistaken, the insurance commissioner sent it to the private citizen.
32:41 He said that there is a cease and desist order but they asked him to update it.
32:49 In fact, Rinaldo Regalado, the former insurance commissioner, also signed it.
32:55 He said that there is a cease and desist order but they asked him to update it regarding its undertaking.
33:04 They will sign the undertaking to legalize the business by registering before the commission.
33:09 What we saw there is that a specific company, the one that came to the commission, said that it's illegal, it's just legalized.
33:19 What we saw is that they applied to the SEC, the SEC is there, and they have an amendment.
33:27 Their name is attached to the plans to correct the crime.
33:35 But what we saw is that it was approved by the SEC.
33:39 They complained to the commission.
33:41 What did you approve? There is a cease and desist.
33:43 They said that there is an endorsement from the insurance commission.
33:50 Their counter said that your duty to approve the name is not merely ministerial, that is discretionary.
33:58 If you have a cease and desist, how can you legitimize something that's illegal?
34:05 I'm caught in a limbo right now. How can you approve a cease and desist? How can you approve a recommendation?
34:14 (Laughter)
34:39 I got initial information that pre-need is like funeral service.
34:46 Pre-needs are like medical. If you're sick, like in America, you don't go to the hospital,
34:54 they will cover up to a percentage of your hospitalization bills.
35:00 This is like a funeral pre-need.
35:04 Actually, there are a lot of cases. In fact, there are some entities that reported.
35:09 The latest one I wrote about three or four months ago, they are the IC.
35:15 Not CI, cease and desist, but you will reach the notice to the public.
35:21 It's been almost four months or more that the public hasn't been notified.
35:27 The style of pre-need that we reported is like ministry.
35:34 Ministry is like a funeral service.
35:36 It's like a funeral service, but with a different approach.
35:41 Approach. Like a packaging that they will give to the public.
35:45 Ministry is like a funeral service, they will give to the public.
35:51 What's happening is that there are a lot of pre-need companies that are legal or legitimate.
35:59 It's not impossible, but it takes time for the case to be bankrupt to get trust fund.
36:09 In fact, there are a lot of cases that were complained about.
36:13 It's like a bankrupt, like a cup, but it takes years to get the pre-need.
36:18 How much more illegal fly-by-night pre-need that has members, tens of thousands, hundreds of thousands,
36:27 if within the process, they are not yet legal, what if they are getting angry at the set-up?
36:35 So as of now, it's still ongoing.
36:37 Attorney Dias, what's the catch? Normally, compared to legitimate,
36:46 some cases are too good to be true.
36:49 What's the catch? You're cheap, but you're good at exchanging, you're getting more customers from the public.
36:57 Actually, the catch is that the price is getting higher.
37:02 There are well-known pre-need companies that are legal, they have 1,000 members.
37:14 Can you imagine a legitimate pre-need company offering 1,000,
37:19 when it comes to an illegal pre-need company offering 300 to 400.
37:23 That's what they're computing.
37:27 Knowing people in the industry, funeral, et cetera, they are doing well.
37:34 In fact, the pre-need companies that you're complaining about, fly-by-night pre-need,
37:38 they started out at 250 or 300.
37:43 Now, they are offering 400 in one year.
37:48 So I'm the first one to say, of course, they are increasing.
37:52 If you want to compute, you have to have a good result.
37:55 Insiders say that this is just a trick to increase the number of people who enroll.
38:00 But if you're going to do that, you have to be arbitrary with the price.
38:06 You have to be subject to adjusters, experts in computation.
38:13 So it's up to them.
38:16 You have to be able to adjust.
38:22 Regulators refuse to perform their jobs.
38:30 (inaudible)
38:48 Correct. So actually, the next move in the Senate committee on financial institutions and banks,
38:56 I'm sure you handled it already, but I'm the president senator, if I'm not mistaken, Mark Villiar.
39:01 So I want to say this, and your son, Mona,
39:06 (inaudible)
39:20 (inaudible)
39:42 And here we are, fast forward several decades later,
39:45 we are still facing the same problem and worse.
39:50 (inaudible)
39:57 But Attorney Diaz is different because I believe they are not commissioners.
40:03 In the insurance commission, they are not different from the cease and desist order.
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