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November 23, 2006

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SEVEN SINS OF LIFE:

*Politics without principle.
*Commerce without morality. *Wealth without work. *Education without character.
*Science without humanity. *Pleasure without conscience.
*Worship without sacrifice.

(Gandhi)

In the context of the tragic PSB business environment, who would be the "moral bastards?"

1. Board of Directors who approved the shady loans and failed its customers (deliberately or incompetently),
2. Management: who knew firsthand there was a problem and hid records (fried the books and submitted them way, way too late),
3. shady loan recipients and bank board/mat who conspired to build, hide and "protect" their personal gains (spoils of thievery),
4. Fled the victims by jetting to safe, unknown destinations. Where are DeVivo and Taunton, Margo Llecholch, and others involved?
5. Parties to the shady loans who expanded their financial assets and invested their spoils of thievery in other areas outside PSB, e.g. bought nice cars, build new and large houses, frequented brothels in Koror, party....
6. All the stealing parties tell us, the poor people/victims, at the end of the day, that "you're screwed and screw the bank!"
7. Insiders who tipped the few to extract their money before the bank took a nose-dive.

FIC OUGHT TO BE COMPELLED BY ANY APPLICABLE LAW TO SHED MORE LIGHT AND INFORMATION ON PSB DOCUMENTS SO PUBLIC ESPECIALLY DEPOSITOR PARTIES CAN BEGIN TO MAKE SENSE OF WHAT HAS COME TO HAUNT THEIR LIVES FOR THE NEXT UNFORESEEABLE MONTHS/YEARS!


Bravo to your comments Fonz. Where's the AG and Sp at this time? Where are Margo Llecholch, Debbie Rengiil, Emory Mesubed, and others who were part of the PSB management? It's about time that they are brought to court to be judged and persecuted for their actions.

Thanks, PR.
Thanks for pointing out another name, Emory Mesubed.

This guy was calling people (PALAUANS!) who had/have outstanding loans with PSB a couple of weeks before the downfall of PSB to have them clear up their loans (late loan payments). If he knew the bank was coming down and a few thousands of dollars in loan payment did not make a difference in contrast to the millions of shady, uncollected loans, see how conniving and cruel these people are! They were up to something bad from the start!

We had a remaining loan balance of a little over $1,000 dollars and this guy was calling with threats of legal action if we don't pay. We had to scrape here and there to payoff the loan, and a week later- KABOOM!!!!

While we owed the money and glad to have been able to clear the loan, we wonder where that little sum went to? Whose director or management staff's pocket did it go to before the nosedive?

The following are just a few of my own personal opinions. Am not in Belau so I do not know what is going on right now... also, they may just lean to the "what ifs". Feedback is apreciated but do please read thoroughly.

-Money is NOT the root of all evil. The person handling the money is the one who must obtain the conscience. Without that conscience, what do you have left?

This event was the "Ultimate Test" for those Belauans involved. From the day of the audit to the day the bank was closed. We will get back to this Ultimate Test in a bit.

Let me paint you this picture... A cruise ship sails out of dock for a 5-6 month. Right before the ship left the dock, the ship's engineer told the captain.. "Sir, we do not have enough fuel to sustain the 6 month period." Captain said, "Keep it to yourself sailor, we have paying customers who expect to see the ocean and all of its beauty." The ship left the docks.

In the months of this cruise... the captain may have informed his/her high ranking officers who accompany him/her in the bridge of the ship. So to contemplate what is going to happen... they leak this information to few handful crew members of this 7,000 full cruise ship. Mind you, not all... of course they do not want to cause a panic and refunds or make the captain stop at the first shoreline that they see.

The captain and his bridgemates(the First Officer,Lt.s, Sgt.s, Commanders, etc., etc.) and a few of them handfuls put the ship on auto pilot and they made their way to the liferafts and one by one they got on to save themselves. Not only that... they destroyed the rest of the liferafts and took ALL the lifejackets with them.

They saved themselves and left the cruise ship of 7,000 crew to whatever demise or fate to fall on them. FIN

I have always believed that we Belauans, like every other small islands, are very tight and close knit. We VALUE friends and most of all FAMILY.

The Ultimate Test comes to our brethren, and what do they do... abandonment. The information these fellow Belauans attained was their Ultimate Test... of Honesty, Loyalty, and most of all the VALUE of being a BELAUAN.

Knowledge is power, and with that power, how will you use it? I guess you all know the answer to this question that befalls on those Belauans involved.

The spotlight is already on the captain... just do not lose sight of those who failed the Ultimate Test... and did the Ultimate Betrayal.

Thank you again for reading my rants and raves :) Mongetmokl a bedengiu ma uldesuiu el rokui.

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