Legacy Fiasco and their Rural Bank's Closure, an observation
Issues hounding the Legacy Group and their Rural Banks much heralded bank holidays, was in the media frenzy the past several days. The media banking on this issues to get more ratings portrayed a scenario as this one below.
1. Depositors/Investors/Plan Holders - They are all portrayed as the VICTIM. OMG!!! Thats not really it.
2. Government - This refers to the SEC, Insurance Commission, Central Bank etc.. as NOT DOING SOMETHING perhaps more civilly NOT DOING ENOUGH. Mind you that might be true.
3. Owner of Legacy Group - media portrayed them as swindler,thieft, oportunist etc. etc. OMG, media is suppose to be in between, not a judge.
OK, thats how i see it. In the name of money (instead of service as bragged by several media outfit) the media really got a good scope in here enough to attract ads.
COMMENT FOR # 1 In my opinion however it should not be generalized and interpreted as that. This depositor/Investor/Plan Holders put their money knowing that whatever happens and whatever the case a risk, a posibility of losing their hard-earned money is really present, no matter how low, but a risk is risk and you cannot discount it happening in any eventualities. How much more, as report said that they are enticed to invest due to a promised high yield (double your money scheme as such). Knowing market forces, if you invest on high yield portfolio, am sure your exposing to a higher risk, I repeat higher risk.
So its not fair, the poor Juan Dela Cruz would be made to pay the Investment Loss of Juan Tamad. I mean its not just fair, that government funds be requested to bail out the Legacy Group or as such be used to pay the Legacy Investor and plan Holder. Let this losses be a lesson learned by those greedy investory who want to increase their wealth by just lying in the porches of thier comfortable homes.
COMMENT FOR NO. 2 A lot of times really, government just take a nap. They are not proactive at ll times. But who should we blame? A good question. We should blame ourselves, we should take fingers at ourselves. We deserve a government like this if we continue to be like today.
COMMENT FOR NO. 3 DE LOS ANGELES, is the punisher, disguised in Evil. Good work Sir, for you have deliver the lesson deserve to those who are greedy and opportunistic. People like you, no matter how bad the act is, have a complimentary good things done at the same time. However, I understand there were innocents who are not spared of the onslaught. Its awful, but things like that do really happen. To remember, during the many wars on the face of earth, a lot of innocent suffered. Biblically, during Noah's time it is presumed a lot suffered also and a few inncents only are spared from the acts of God. I wonder if the new Judas is here, he had done bad for a very devine thing. The salvation of mankind could have not be done by Jesus alone, thanks to Judas, It was done!!
To this end, I was amazed how I write today (no proofreading though) because this is not my usual opinion. I wonder if I am acting devils advocate now, but I believe, Im just stress by my work that why I produced this article. HAHAHAHHAHAHAHHAHAHAHA
