POLITICAL COMMENTS FROM FORMER CHIEF JUSTICE OF SC - REYNATO PUNO

"The Philippine is served by 36 commercial banks, but only four families control more than 60% of the P7-trillion resources of the entire banking industries. Only 10 families own 60% of the P10-trillion combined capitalization of some 300 business companies in the country. Such a business environment fosters a 'state of despotism' that aims to preserve the monopoly of the few, thus following a theory of the government of the few, by the few and for the few. The present of the electoral system becomes vulnerable to force and fraud from political leaders who seek power by establishing political dynasties. We cannot live full democracy with this kind of system where governments have failed to put s stop to political dynasties. Such a system 'relentlessly amasses resources' from the people's coffers to benefit only members of family and loyal political allies." - REYNATO PUNO, former Chief Justice of the Supreme Court.