The Price of Bad Choices

By Ben Kritz -
On August 4, President Benigno S. Aquino III will mark his 400th day in office. During that time, he - or the subordinates he appointed to various positions - have made many dubious decisions, but two in particular stand out:

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.

Comments

  1. iciAugust 3, 2011 at 4:12 PM

    ...truly giving me a headache.

    so it's true. everything can be quantified in numbers, and in this case, the collosal incompetence.

    thank you for enlightening us mr. kritz.

    ReplyDelete
  2. ParallaxAugust 4, 2011 at 12:08 AM

    USD 95 million = PHP 4 billion

    this is pnoy's tuwid na daan in just over a year.

    that amount is just staggering. hell, even 10% of that is staggering!

    pnoy ought to be ashamed.

    ReplyDelete

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