Wednesday, August 3, 2011
The Price of Bad Choices
1. The decision (by him, on the advice of his Secretary of Finance) to cancel the contract for the Laguna Lake Rehabilitation Project, costing the government at least $10 million in financing penalties, and
2. The either appalling incompetence or equally-appalling corruption occurring at the Bureau of Customs (which is being directed by one of his earliest appointees, a former commissioner of a basketball league) leading to the disappearance of nearly 2,000 shipping containers of goods and costing the government about $85 million in potential tax revenue.
$95 million lost in 400 days. That's an average of $237,500 per day, or $9,895.83 for every hour Noynoy Aquino has been president, for just two bad decisions.