Saturday, April 27, 2013

No Bernie Madoffs in the Philppines

Comment from a reader on My Country is Better than Your Country: At least in the Philippines, the corruption is out in the open. You always know where you stand. There can never be a Bernie Madoff in the PI because nobody trusts anyone when it comes to money. Love it or leave it. 

From the Bugle: Sadly, you are incorrect. There are Bernie Madoffs in every country.  The recent Aman Futures scam was the Madoff scheme here. In Manila these days, licensed insurance companies are running a credit card scam where they offer prizes in order to obtain the credit card information of unwary shoppers and then they enroll them in auto-payment schemes for dodgy life insurance programs. Insurance companies, like Prudential Life, are essentially con artists licensed to scam the public by the Philippine government.

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