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3 Cost Effective Ways to Solve Metro Manila's Traffic Problem

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The Facebook page of ANC 24/7 is asking for its reader's suggestion on how to solve Metro Manila's traffic problem. This got me thinking, "what is the best way to solve Metro Manila's traffic problem?" It's easy to make suggestions, what's hard is the implementation and the cost of implementation. So what is the the best way to solve Metro Manila's traffic problem and the most cost effective solution? Punitive Fines Add caption First of all, any implementation will definitely cost money, a lot of money. The cause of the traffic mess is the people themselves so it's only right that those causing the traffic problem should be fined and the fine should hurt. That way, the fines will pay for the cost of enforcing the law. The fines should start at P500 and goes up every week if you don't pay it within 15 days. To enforce this and prevent people from ignoring the fine. It will be tied to their driver's license or car registr...
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Banco Filipino Bankrupt, Place Under Receivership

From GMA News Online.

(Updated 9:53 p.m.) The Bangko Sentral ng Pilipinas (BSP) on Thursday ordered the closure of Banco Filipino Savings and Mortgage Bank and placed it under the receivership of state-run Philippine Deposit Insurance Corp. (PDIC), saying its liabilities topped its assets by P8.4 billion.

In a press conference late Thursday, BSP Deputy Gov. Nestor Espenilla Jr. said the central bank's seven-man Monetary Board decided to place Banco Filipino under the receivership of PDIC since it was no longer paying its liabilities in the ordinary course of business.

"Banco Filipino cannot continue in business without involving probable losses to its depositors and creditors," Espenilla told reporters at the central bank.

The policy setting Monetary Board also took note that Banco Filipino’s management and board of directors failed to restore its financial health and viability after having been given more than ample time to address its problems.

Banco Filipino has insufficient realizable assets to meet its liabilities since its net realizable value reached P8.4 billion, or its liabilities overwhelming its assets, Espenilla said.

Full story and video here.

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