RA 6426 meant to protect foreign depositors

I cannot understand why the Senate sitting as an impeachment court, voting 13-10, easily bowed to the Supreme Court’s temporary restraining order on the opening of Chief Justice Renato Corona’s dollar accounts.

Lawyers are saying that the absolute confidentiality of foreign currency deposits mandated by Republic Act 6426 applies only to foreigners, as the law is meant primarily to protect foreign depositors and investors. So, why did the Supreme Court ignore this clear intent of the law and vote to issue a TRO meant to protect one of their own from possible prosecution for questionable wealth?

The 13 senator-judges who voted to honor the Supreme Court TRO should reconsider their stand since the core issue here is accountability.

Corona could not have earned $700,000 or P38 million (at the 2008 conversion rate) on his meager salary as associate justice and later as chief justice. So, where did this $700,000 come from?

Corona should come clean on his dollar deposits now, not “in due time,” which can take an eternity.

—LITO CARIAGA, litzcaria@gmail.com