RedBlueThoughts

GSIS says it has about a billion dollar worth of exposures in global markets. US$ 300 million went to fund managers of ING, another US$300 million are being managed by Credit Agricole. From these, they gained P 1.2 billion. Question–where’s the US$400 million?

Being a government institution, GSIS should feel accountable and reveal where they invested the remaining global funds. Winston Garcia is not managing his own financial institution. He’s still a government official. He should be reminded by Gloria that he should be honest and tell the people what happened to all those monies.

In the same vein, financial institutions such as the SSS under Neri and the Pag-Ibig funds should likewise reveal their investments. These people should be reminded that it’s not their monies that are at stake here. It is the people’s money.