A blessing in disguise

Local media made fun of President GMA’s gaffe on a $10 billion crisis fund after the World Bank denied it. But I think it is the World Bank that is put in bad light. It should have been more gracious unless of course it was part of the media spin to use its denial as an opportunity to blame the President for what in its view is a “terrible” mistake. Well, there are some of us who do not think such a mistake is so terrible. Certainly it is not more terrible than the mistakes committed by American financial institutions that caused the crisis.

Be that as it may, the gaffe may be a blessing in disguise. Here was a president eager to wish well on an international institution oftentimes accused of being a Western conduit to control economic policies of emerging countries. If there is any lesson to learn and one that patriotic Filipinos could support it is that we cannot and should not rely on these institutions with a Western bias.

If at all, the gaffe, if one must call it that, highlighted the need for regional solutions. That is my spin on the regional crisis fund of some $80-billion put together by ASEAN plus 3. That means 10 countries, including the Philippines, and its dialogue partners in the region — China, Japan and Korea. The financial clout of these partners is not to sniff at. This ASEAN plus 3 regional fund would cooperate with the World Bank and the IMF on a more equitable basis than it would been if the latter were to fund troubled countries directly.

The IMF might have the expertise and some $250 billion to lend but “borrowing from the fund carries a stigma” said one blog. It adds that “the IMF should develop quicker, more flexible financial instruments and minimize the conditions it attaches to loans.”

* * *

There’s a new kid on the block, I mean the political block with PAGCOR Chairman Efraim Genuino pushing populist projects that is proving to be effective and successful. He may be in charge of a gambling group but he has put its multi-billion earnings to good use. First stop for Genuino was to give Pagcor an image of total entertainment for the whole family. So if you go to its Parañaque site you will see hundreds of children tugging along with their lolas to see an acrobatic musicale called “Wanders”.

But to Genuino, who travels all over the Philippines, the closest project to his heart is his anti-drug campaign called BIDA, Batang Iwas sa Droga. Since it began from a few thousand to about half a million members, he seems to enjoy devising schemes to appeal to his public, in this case children aged from 6 to 12. The campaign works through public elementary schools nationwide, the Dangerous Drugs Board with the Philippine Gaming Corporation, Department of Education and BIDA Foundation. Its main vehicle is through comics, the BIDA comics. He is happy when he hears children say it is they who now teach their parents the evils of drug use.

“Originally conceptualized as a cartoon series with three superhero characters, the BIDA comic features 5 students with superpowers that clash against a monstrous drug lord. It portrays drug perpetrators as public enemies and renders kids as capable to fight the menace despite their young age.”

The DDB has programs also for older groups such as Barkada Kontra Droga, a peer-based youth movement involving ages 12-60; and Kids Against Drugs involving primary level pupils. But it is BIDA that thrills him.

“For years, the drug problem has weakened the foundation of our nation. It ruined lives, separated families and corrupted the youth. It has invaded our homes, our schools, and our workplaces, bringing destruction to everything that it touches. We must stop this menace if we are to achieve our vision of becoming a strong Republic,” Genuino said in a statement.

With a base like BIDA, and a project like the multi-billion Entertainment City which will bring in thousands of jobs and multimillion investments from the biggies, I will not be surprised if some convince him as a shoo-in for 2010. But he is not biting. He tells friends he wants to do good for the country and then just fade away when it is done.

* * *

I will rush home from Kuala Lumpur to be on time for US Ambassador Kristie Kenney’s invitation to celebrate democracy in a 2008 US Presidential Election Watch Party on Wednesday, Nov. 5th. Of course, the big contest is between presidential candidates Barack Obama and John McCain.

But I am sure there will be many and I am one among them who will watch how Sarah Palin will do. She reminds me of our own candidates for which we are often belittled as an immature electorate. Let’s see how American voters handle their one. New Yorker published a long article on how she was chosen which is good reading for those who want to know the inside story.

“The selection of Palin thrilled the Republican base, and the pundits who met with her in Juneau have remained unflagging in their support. But a surprising number of conservative thinkers have declared her unfit for the Vice-Presidency. Peggy Noonan, the Wall Street Journal columnist, recently wrote, “The Palin candidacy is a symptom and expression of a new vulgarization in American politics. It’s no good, not for conservatism and not for the country. And yes, it is a mark against John McCain.” David Brooks, the Times columnist, has called Palin “a fatal cancer to the Republican Party.”

Christopher Buckley, the son of National Review’s late founder, defected to the Obama camp two weeks ago, in part because of his dismay over Palin. Matthew Dowd, the former Bush campaign strategist turned critic of the President, said recently that McCain “knows in his gut” that Palin isn’t qualified for the job, “and when this race is over, that is something he will have to live with. He put the country at risk.”

Palin initially provided the McCain campaign with a boost, but polls now suggest that she has become a liability… John McCain’s comfort level with Palin is harder to gauge. In the view of the longtime McCain friend, “John’s personal comfort level is low with everyone right now. He’s angry. But it was his choice.”