‘Traders backing coups wasting money’

Suspected financiers and political backers of coup plotters can put their cash and resources to good use instead of trying to destabilize the government and hurting the economy, Executive Secretary Eduardo Ermita said yesterday.

He said the government will exert all efforts to bring to justice businessmen and political leaders who supported destabilization moves and coup attempts to prevent such activities from being repeated.

"These people are just wasting their money funding actions to overthrow the government," Ermita said. "I wish they would funnel the money to livelihood activities for the poor or to pay the right amount of taxes."

He said authorities are doing their best to come up with evidence that would stand up in court so that suspected financiers and political supporters could be charged for masterminding destabilization attempts since 2001.

Ermita pointed out that individuals involved in past destabilization attempts are the same ones that reportedly gave financial backing and other forms of support to the foiled coup plot last month. The failed power grab, dubbed "Oplan Hackle," was reportedly staged by a mix of communist rebels and rightist soldiers.

Ermita issued the statement as authorities continue with their crackdown on alleged co-conspirators of the coup plot, including those from the military and Congress.

Intelligence officials last week said that among the alleged financiers is a member of the opposition at the Senate and a former ranking government official. No names were given.

The former government official also allegedly bankrolled the 2003 mutiny of the Magdalo group at the Oakwood Premiere Ayala Center in Makati City’s central business district. The opposition senator, on the other hand, allegedly shelled out millions for "Oplan Hackle," but remained largely on the sidelines.

"Oplan Hackle has been neutralized. We have broken their momentum," the intelligence official said, but warned that opposition groups are regrouping for another attempt to force Mrs. Arroyo out of office.

The only public support they could rely on are from leftists, Ermita said. — Paolo Romero