MANILA, PHILIPPINES |Thursday, January 13, 2005
BSP: three key changes to charter to boost bank supervision
'Bangko Sentral ng Pilipinas push for three priority changes to strengthen banking supervision, focused on consolidated supervision, a graduated scale of penalties for violators and increased legal protection for its officers.'
Why were BSP officers sued in the first place before? Is it the perception by private companies & business community that they are weak, corrupt and powerless? Or are individual companies & business individuals themselves weak, corrupt and powerless that they expect BSP officers are too?
We need a few strong willed, independent thinking, self-reliant, self-confident BSP officers as well as few strong willed, independent thinking, self-reliant, self-confident business leaders to make Capitalism work! Balance, balance, balance. Economist Thomas Sewell says Capitalism does not work in a Zero-Sum Process.