A whitewash will spell doom for the stock market

The investigation into the insider trading scandal at the Philippine Stock Exchange must have a definitive conclusion, if the PSE is to regain investor confidence. Stopping the investigation at midstream, just to accommodate some or all of those implicated in the scam, will mark the demise of the stock market. Let Dante Tan, Jimmy Juan, and all the other brokers involved in the Best World stock trading answer all the allegations hurled against them.

So far, Dante Tan and the other implicated brokers have been lucky. For events suddenly transpired that shifted the focus of attention from Tan et al. to Perfecto Yasay's controversial stop-trading order. And the brouhaha that ensued after the issuance of that order, plus the resignation of Ruben Almadro as PSE fact-finding prober, took the spotlight away from the insider trading probe.

A whitewash is out of the question. For should the authorities concerned close their eyes to all the facets and angles of the insider trading scandal that rocked the country's capital market, there will be no way to lure back the investors to return in droves to the Philippine bourse.

Our society is apparently sick and confused. After I threw the question as to whether SEC's Yasay realized the consequences of his controversial stop-trading order, a reader sent an e-mail saying that I appear to be an apologist of the Estrada administration. On the same day, another reader wrote in praise of my questions thrown at Jun Yasay. All this goes to show that you can never please everyone.

Alternative politics is surfacing, and this is very evident in the House of Representatives. The shift from the traditional politics of patronage to the new politics anchored on issues was presaged by the transfer of legislative responsibility from the older generation to what is popularly called the Generation X.

First, there were the Spice Boys, second-generation politicians who easily command public attention because they come from the ranks of the political opposition. These boys gained popularity by the traditional practice of hurling potshots and tirades at the Estrada administration.

The Spice Boys' banter, though, has suffered lately, not only because of the natural wear and tear that comes with overexposure but also due to the scratches of their brushes with reality and the truth. Rep. Michael Defensor, for instance, is on the defensive in connection with his ongoing tiff with the police. What has exacerbated Mike's problem is the disclosure that the cell phone of a Spice Girl listed down the names of three Spice Boys.

Then come the Bright Boys, neophyte congressmen identified with the ruling administration. They face the dilemma of being identified with the ruling party, especially in a traditionally opposition-inclined Metro Manila. They are thus forced to use a critical eye when they talk about the policies of the Estrada administration.

The Bright Boys gained the monicker from their statement that they have their own bright ideas on how to improve national governance and politics. President Estrada was reportedly inspired by the enthusiasm of their youth, the insights of their theories, and their masa orientation. I understand many other young and idealistic congressmen have expressed a desire to be counted among the Bright Boys. Probably, this is due to the perceived knowledgeability of the Bright Boys on economic and political issues.

How do the Bright Boys fare vis-à-vis the Spice Boys? It is hard to tell, but there are reports that the Spice Boys backed out of a scheduled debate with the Bright Boys a week before the confrontation. The debate was supposed to have been staged before the Manila Jaycees at a Roxas Boulevard hotel. Only Reps. Francis Escudero, Joseph Felix Mari Duran of Cebu's 5th District, and Jurdin Jesus "JJ" Romualdo -- all Bright Boys -- showed up. I heard the Jaycees were impressed with these Bright Boys' performance.

In answer to queries on where to buy a copy of my book, Walking Through the Pathways of Life, the book is now available at National Bookstore branches at SM Megamall, SM Centerpoint, Claro M. Recto Avenue, Greenhills Virra Mall, Shangri-La Plaza, and Robinson Galleria, Avenida Rizal. Copies may also be bought at Powerbooks SM Megamall, La Solidaridad Publishing House at Padre Faura, and Ateneo Alumni Affairs Office at Loyola Heights.

Reader E.S. Paguyo has a thought-provoking observation. Why, he asked, are the authorities allowing non-policemen to use black T-shirts with the letters "POLICE" plastered at the back of the T-shirts? The "POLICE" marking is deceptive, Paguyo added, because the letters "barangay" are put, in very small print, under the word "POLICE."

"I have seen many people wearing these black T-shirts, and they look like goons," Paguyo said. He correctly stated that the integrity of the Philippine National Police is being tainted by the actuations of these goon-like guys who use the black T-shirts marked with "POLICE". Will PNP chief Gen. Panfilo "Ping" Lacson please look into this?

I personally have seen many of these individuals who are not policemen, wearing T-shirts marked with the word "POLICE". Under "POLICE" are usually markings, in very small letters, saying barangay, City Hall, etc. Apparently, their ploy is to deceive people into believing that they are policemen when, in fact, they are not.

Several readers were amused, and enlightened, over my listing of some things that many probably don't know, such as:

* Chocolate kills dogs. It affects a dog's heart and nervous system. A few ounces of chocolate can kill a small-sized dog.

* Donald Ducks comics were banned in Finland because he does not wear pants.

* 315 entries in Webster's 1996 Dictionary were misspelled.

* Every person has a unique tongue print.

* 40 percent of McDonald's profits come from the sales of Happy Meals.

* Your stomach has to produce a new layer of mucus every two weeks. Otherwise, it will digest itself.

* On average, 12 newborns will be given to the wrong parents daily.

* Playing cards were issued to British pilots in World War II. If captured, the cards could be soaked in water and unfolded to reveal a escape map.

Art A. Borjal's e-mail address: <[email protected]>