Why don't us Depositors, trust that the PDIC will pay out our validated Claims, by end of October, like Nograles promised?

This was an announcement on the PDIC website:-
"PDIC Starts Mailing Payment to Legacy Depositors"
May 26, 2009
http://www.pdic.gov.ph/index.php?nid1=8&nid2=1&nid=398&rend=5&page=1

"PDIC announced that in the course of its deposit examination, it has validated 51,180 deposit accounts representing 37.56% of the total deposits of P14 billion. The validated accounts amount to P1.76 billion as of May 15, 2009".

So they had already 'validated' some Php1.76B as of 15 May.

Then a more recent update they state this:-

"PDIC Approves P2.3-B Payment to Legacy Depositors"
http://www.pdic.gov.ph/index.php?nid1=8&nid2=1&nid=390&rend=5&page=1
September 08, 2009
"The Philippine Deposit Insurance Corporation (PDIC) reported that while its operations had been hampered by the big volume of Legacy bank accounts, missing bank records and several suspected fraud cases, it has already approved payment of claims to Legacy Bank depositors amounting to almost P2.26 billion. Of this amount, PDIC has paid almost P1.43 billion to Legacy Bank depositors while the balance worth P834.3 million is currently being scheduled for release".

So the PDIC have only managed to pay 'almost' Php1.43B to us Legacy Bank Depositors (yet there were Php1.76B of validated Accounts on 15 May). So in 4 months period PDIC failed to actually pay all the Accounts they said were already validated some 4 month previously. let alone any new validations completed during that 4 months.

Examine why it takes the PDIC so long?

They write a Letter, and it carries a date. Then they take their time over mailing it to the Claimant. Thgere are plenty of Claimants stating the Makati postmark Date is often up to a month later than the date on the letter they received, perhaps up to another month nearly, at their local Post Office if in the provinces.

So ignoring those delays for a moment, such letter might request that a Notazized Affidavit is required, before they can finally validate the Claim and make the payment and a 'deadline' is given, to return such documentation. This is often only a few days later than when it was actually received. If one uses a Courier, it is delivered to the PDIC address, and this is confirmed by the 'Tracking' of the Courier.

So what 'excuse' does the PDIC have for still not having made the payment following receipt of the requested document from the Claimant before the deadline, despite the Delays by PDIC and Delays by Phil Post in getting it to the Claimant. How can they 'justify taking over 2 months, since they received the Document as evidenced by the Tracking.

In some cases it is now coming up to 7 months since Claims were filed for some Banks, and not a single communication in respect of the Claim.

Clearly the PDIC are ignoring their mandate under Section 14 of the PDIC Charter.

Do those that have strived so hard to climb the political ladder to attain their own elitism for their own gains have no shame at all?

Jose Rizal would turn in his grave now if he knew how the political elite were rewarding themselves at the expense of those that they are mandated to serve. Shame on them!

If you want to have your deposited money protected by a government that regulates and oversees its member banks, look to somewhere like Spain (yes, S P A I N) and its Deposit Guarantee Fund (FGD). For sure, you will see the return of your deposited monies should a CDLA character be allowed to manifest himself there.

While on the subject of CDLA, why is this man not in prison? It appears that he must have purchased his own insurance, with depositor money, to escape punishment.

It is obvious that the lack of urgency and loop-holed evidence to be used in any prosecution against him is merely a smokescreen for his escape from any form of justice. Who did CDLA take out his insurance policy with? It does not take genius minds to figure that one out.

Madoff, the USA equivalent of our own CDLA will not see daylight again. There, justice is served correctly and swiftly. I cannot say the same for the Philippines. It appears that here the theft of money on a grand scale is tolerated and its ability to flourish has a very much darker side.

Meanwhile, depositors who PDIC are mandated to protect, continue to be treated abysmally.

So, instead of depositing your money in a Philippines based bank, with a PDIC poster proudly displayed in its premises, consider moving your money to a country like Spain that offers REAL depositor protection. Jose Rizal would have something to say about that, I’m sure.

How far has this country really moved forward?

The complains of several depositors are true.. PDIC is stalling in payment of claims. The Legacy banks closed in December, it is not Sept and many are not paid yet.

PDIC has resorted to several delaying tactics like asking several affidavits from depositors just to prolong the process.. and even for those accounts that has complete proof/requirements, they also ask for affidavit.

I just want to expose that none who submitted their affidavits have been paid yet as because a certain female head of the department who approves the affidavit are not signing them.

It has been revealed that the subtmitted affidavits are just sitting on her desk waiting to be signed.. she is causing the bottle neck.. what is she waiting for?

Shall we depositors band together, pool our funds so we may file a case against PDIC for sitting on our claims.

In the past, the supreme court has sided with the depositors as PDIC has the mandate to pay us even if the closed bank has missing documents.. as it is not the depositor's fault if the closed bank didn't take care of those documents

One must wonder how much money has gone from PDIC funds into the back pockets of Nograles and his friends. For years they have collected funds from the banks in the Philippines, but yet when that money is needed to pay the depostiors it's suddenly all gone. Of course they will not admit to that. They blame false accounts, bad records, in depth checking for fraudulent claims. But we all know the truth, Nograles the scammer has been putting the money into his own accounts and his friends accounts, and just like every other agency in the Philippines they make themselves rich and to hell with everyone else. From the President down, everyone steals from the innocent Filipino, and because the judges and the Police are in their back pockets as well, no one touches them.

Celso stole a fortune but is still a free man, where else in the world would that happen. Listen to the constant lies that PDIC tell the investors every time they check on the status of their accounts.
"It's in FFV sir" "It's in FFV sir" "Sooon you will be paid Maam" "Soon you will be paid Maam" "Sorry Sir, you're back in FFV Sir, you will be paid next month Sir" One of the main qualifications to get a job in PDIC is to be able to lie and not laugh on the phone, that's why Nograles made it to the top

Does PDIC really think depositors are stupid? It's been almost a year and still thousands of people have not seen one centavo of insurance from them! And now they want to put the blame on the depositors for their recklessness? Remember, it is their job along with BSP to assess if a certain bank is for real or if they are double crossing their depositors! When people see PDIC stickers in the banks doors, it means that NO MATTER WHAT HAPPENS TO THE BANK they will get their insurance! But what is happening now? PDIC is robbing people of their trust in the Philippine Banking System!