For example, the author notes, "A CUSTOMS broker told me that an estimated P27 billion in bonds covering customs bonded warehouses remains unliquidated." The writer complains, "The Insurance Commission does not seem to care. Or it knows what is going on but does not really care for reasons nobody except them really know."
This is more than startling as "[t]e first job of the Insurance Commission is to check the capability of the insurance firms or bonding companies to issue bonds."
NOTE: It appears that the same government types running the Filipino Insurance Commission today are the same sort of ones in America who brought the whole world the largest economic collapse in 70 years (in 2008).-KAS
The vignette concluded, "The big fat [insurance] racket has been going on for years but nobody, not the Presidential anti-Smuggling Group, least of all customs officials, are doing anything about it."
SUDDENLY BY THE THOUSANDS
Mr. Amadomacasaet@yahoo.com wrote in the third vignette: "DAYS before the 2004 national elections, 3,000 import entries were filed by importers with the customs bureaus in just one day. Some smugglers struck a deal with powerful people to import big volumes of consumption goods."
As usual, "[v]ery few people know what goods came in. But on record, they were kept in the bonded warehouses as raw materials." ("Like in the rest of the cases, the consumption goods went straight to the warehouses of the owners from the ship.")
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