Speaker Joe De Venecia, for all our misgivings, is a great political animal-survivor.

He can change from a growling tiger (when passionate with his advocacies) to a lovable puppy (with floppy ears) when he courts consensus - both among angels and Satan - and a chameleon when he wants to adapt to new habitat.

Rebuked by the Charter Change failure - JDV has made new and radical initiatives which I think is aimed at the solar plexus of our twin main problems of mass poverty and gross corruption. We sincerely hope he succeeds.

The first one is his giant step to seek approval of large nations - and their financial institutions - to bridge the gap between the global "haves" and "have nots" by converting billions of poor, developing countries' "international debts into equity" (including infrastructure).

We all know that there is enough financial and material wealth around the world - and the age-long issue of poverty has really been long caused by their mal-distribution.

Too few just own too much of it; too many have too little of it.

The core point of the "debt to equity" conversion is to allow the poor host nation to convert its cash flow (which otherwise goes to debt principal and interest payment) into productive investments that create jobs (industries) or create wealth through improvement of infrastructure. (perhaps through Built-Operate and Transfer schemes)
These industries and infrastructure would naturally have a longer term gestation period for yield return to the original nation-bank creditor than the existing debt, allowing the host nation to breathe freer fiscally.

As we had always stated, though, the moral environment and legal facility (and the not-so-hidden corruption) within the Philippines are still issues to be ironed out for the "debt-to-equity" conversion to be attractive to debt-to-equity stakeholders.

The "debt to equity" conversion formula is a happy marriage between the interests of a poor nation in dire need of infrastructure and jobs (like the Philippines) and nations-creditors who can very much afford to covert its receivables - from the nature of a debt to one of a shareholder.

JDV's second laudable initiative is his mandate for Congress to give the highest political priority for the approval of the political Party Act of 2006. The timing could not be better since its approval can make it affect partially the conduct of the dangerously volatile May 2007 mid-term elections.

The Political Party Act will instill party discipline by outlawing political turn-coatism and politics of convenience. The expensive political cost in this country would also be reduced and our leaders protected from the undue influence of drug lords, gambling lords and financial brokers who influence governance after their election due to the elected leaders' political and financial debt to them.

These power brokers continue to dominate some aspects of law-making and even the appointment of certain cabinet members, judges and military leaders. It does not encourage plurality of thought and independent action of the executive, legislative and judiciary. It is dangerous to the blooming of true democracy.

The Political Party Act (a combination of ten other bills) is listed as Committee Report No 2024 of the House Committee on Suffrage and Electoral Reform.

If implemented, the Act will allow the establishment of P500-Million in Electoral Funds which will be provided by government to fund Political Parties. This will allow each party to spend P11 for every registered voter during elections. Individual taxpayers can remit as much as P100,000 and corporations P500,000 to the election kitty to be shared by all political parties.

If passed by this Thirteenth Congress, this Political Party Act will be one of its reform-oriented bills which can bring Philippine politics closer to the age of sanity and order.

The Act will institutionalize government funding for electoral campaign, mandate public disclosure of politicians' electoral expenses and require audit of all campaign funds. It is also a Great Equalizer that blunts the edge of moneyed candidates over their poorer political rivals.

The regulated and equitable use of media time and space could also be one aspect that should merit government study.

It is known that some Western European and Asia nations mandate their governments to provide direct funding to finance the electoral expenses of the political parties.

Among the notable sample countries would be the United States, Australia, Japan, Malaysia and Thailand.

The strengthening of the party system is aimed to harden the positions of parties on crucial issues, thus creating a party stance which all members will have to adhere to rather than develop a "highly personalistic kind of politics" we experience today.

This lack of party platform has been cited as the main reason why highly popular individuals in the movie and television world, media and sports icons are easily elected into sensitive public office despite their natural liabilities and lack of training - because of their sheer advantage in public exposure.

We do not savor JDV's style of trapo politics and his penchant to draw attention to himself every step of the way as well as his all-too transparent ambition to become Prime Minister under the new Charter Change moves of the administration.

But as they say, "not every day is Sunday" and these two JDV Initiatives, could still redeem the man - already teetering on the brink of infamy at his various attempts to lead the nation - which the people do not seem to buy - for years now.

Let's give the man a chance. And give his two initiatives our support.