Wednesday, October 7, 2015

Former Senator Joker Arroyo is dead

“For the younger generation, who may not be aware of Senator Joker’s contribution to nation building, they should know that he fought for the restoration of democracy in the Philippines, he fought in the courts and in the streets for the restoration of our civil and political rights which we enjoy today,” Senator Angara said.

“Farewell to one of the best and finest trial lawyers that we have ever met,” Angara added.

Senator Ferdinand “Bongbong” Marcos Jr., son of the late dictator and namesake Ferdinand Marcos Jr., expressed shock when told of Arroyo’s death.

“He did what?” the senator asked in an interview in Quezon City.

“Oh no. Is that true? That’s terrible news, oh that’s terrible,” he added.

But in another statement also issued later, Marcos said he was “deeply saddened by the tragic news of Joker Arroyo’s passing.”
Joker Arroyo

These are what the colleagues said about him but many people said that he started good but finished bad as he connived with Binay who has lots of plunder and corruption issues. 

He also sided with Former President Gloria Macapagal Arroyo though he is not blood related and GMA at the same time has many plunder and corruption issues too. 

He also voted Supreme Court Chief Justice Corona not guilty. 

He was with Miriam Santiago and Bobong Marcos, the son of the former president marcos.

"I value greatly my time spent with him in the Senate. Considering where we came from, we often found ourselves in agreement over political questions. I think because of this, I dare say that we eventually became friends. My prayers and thoughts are with his family as they suffer through this great loss,” he said.

All I can say that there is no permanent enemy and friend in politics. Hello?

Arroyo was a three-term congressman of the 1st District of Makati from 1992 to 1998 before he became senator from 2001 to 2013.

“While in Congress, he remained an independent throughout his term, he never traveled abroad on government money and was known to have a perfect attendance record for nine years from the time he was elected up to the end of his term, according to his biography posted at the official website of the Senate.

“As lead prosecutor during the impeachment trial of President Joseph Estrada, he was remarkable,” it further said.

A human rights lawyer and freedom fighter, Arroyo was among those who questioned before the Supreme Court the ratification of the Marcos-dictated 1973 Constitution; Amendment 6 that empowered President Marcos to exercise law making powers alongside the Batasang Pambansa; the power of military tribunals to try civilians.

He also helped defend political detainees like Benigno “Ninoy” Aquino, Eugenio Lopez Jr., Serge Osmeña III, Jose Ma. Sison, Jovito Salonga, Nene Pimentel, Eva Kalaw, Renato Tañada, Eduardo Olaguer and many others.

“As a freedom fighter, Senator Arroyo has had his share of physical and mental tortures having been incarcerated in a military stockade, gassed, injured and hospitalized during protest rallies,” according to his biography posted at the official website of the Senate.
During the snap elections in 1986, Arroyo served as counsel of then-presidential candidate Corazon Aquino.

After EDSA I, the late senator held various post in government first as executive secretary in the Aquino cabinet from 1986 to 1992, then as chair of the Philippine National Bank and as executive director for the Philippines in the Asian Development Bank from 1986 to 1990.

I just could not understand why some of the best and good politicians became bad at later years like Saguisag and others. They tainted their names by siding the thieves in our country. Maybe because they have Alzheimer's disease. Or they are really bad pretending to be good at the start and showed their true colors later on?

No matter how many good things you have contributed, once you made a mistakes you are branded as bad. Or maybe we are the one who are wrong and they are right. Time will tell.

He live up to his name "Joker".

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Tuesday, October 6, 2015

Saudi Arabia top Middle East richest list

JEDDAH: Saudi Arabia and the UAE jointly account for over 45 percent of the UHNW (ultra high net worth) population in the Middle East, a new Wealth-X study has found.

 The wealth-intelligence organization defines UHNW individuals as those with $30 million and above in net assets.

 Saudi Arabia has the largest UHNW population (1,495 ultra wealthy individuals) and UHNW wealth ($320 billion) in the region, followed by the UAE, said the report.

 In the UAE, there are 1,275 such individuals, worth a combined $255 billion, representing 20 percent of the total ultra wealthy population in the Middle East.

 The UAE is ranked 22nd in Wealth-X’s global ranking of UHNW population by country, behind Saudi Arabia (17) but ahead of Kuwait (32). Nearly 1,000 ultra high net worth (UHNW) individuals
are based in UAE capital Abu Dhabi (450 individuals) and Dubai (495).

 The report said that Saudi Arabia’s more dispersed economic growth has resulted in a split of its UHNW population across a few of its key hubs.

 All of these main hubs have experienced faster growth in UHNW population than their respective country’s average.

 This concentration exemplifies how vital infrastructure is facilitating the growth of both fortunes and opportunities.

 “As such, clusters continue to dominate, and we expect these cities’ existing pull of international resources to become stronger,” said the report.

 Saudi Arabia and the UAE jointly account for over 45 percent of the region’s UHNW population, and both of these countries experienced fast growth in UHNW population and wealth.

 The only country in the region to experience an overall decline in its UHNW population and wealth this year was Kuwait, due to the slow GDP growth and a declining equity market in the country.

 In Saudi Arabia or UAE, the UHNW populations control more than half their respective countries’ total wealth.

 The study also reveals that 57 percent of the UAE’s UHNW population amassed their fortune through entrepreneurship.

Only 8 percent fully inherited their fortune; and 35 percent partially inherited and grew their wealth.

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