Let The Buyer Beware

Comment from a reader on "No Security For Subic Investors":

Well look at it this way. In the Subic area (I refrain from implicating the entire nation), There exists natives with limited assets that they would use as barter to separate the well heeled foreigner from a portion of his wealth. For purposes of elucidation, I'll call the first group "Bilkers," and their clients the "Bilkees." The bilkers pity not the naive ones who trust without justification, for they know well that the blikees would, given the opportunity, rip off the bilkers without mercy.

This is a centuries old game, practiced by many without regard to geographical or national boundaries. Ask any American schoolboy about the Dutchmen who bought Manhattan Island from the dumb Indians for a hand full of beads and baubles. The DI's thought the transaction to be a wonderful deal. And for good reason - they didn't own the island. Just happened to be passing through the neighborhood when they stumbled across some white foreigners looking for some bargain basement real estate and business opportunities. Is the Olongapo-Subic bilker to be faulted for practicing business as usual. And please, folks, no lectures on standards of morality, ethics, etc. Think real, as in "Caveat Emptor."

[The Subic Bulletin] The "Dutchman" you refer to is Peter Minuit who was actually from Wesel Germany, many people think he was Dutch because he was the Director General of the Dutch Colony of New Netherlands which was on Manhattan island.
It is true that he purchased Manhattan island from the wrong Indians but he did it in an official capacity funded by his employer the Dutch West India Company, but alas, this was such a poor decision that he made only 20 days after arriving at the colony that he was ultimately fired.

Your comparison may ring true to buying land on baloy beach as so many have done who have gone this way before, but we are talking about Public Servants that are suppose to be accountable and responsible to the people under the constitution of a civilized country! Yeah, ok.... Caveat Emptor.