EDITORIAL Philippine Star www.philster.net Wednesday, October 1, 2008 The government is planning to phase out the Quedan and Rural Credit Guarantee Corp., which was brought to ruin by its former top officials and, if reports are accurate, used as a milking cow by politicians. But before the phase-out, taxpayers will have to fork out another whopping P475 million to pay off the loans of Quedancor to private creditors. Apart from the additional burden to taxpayers, the gross mismanagement of the government corporation has destroyed the livelihoods of thousands of people who obtained Quedancor loans. Its deactivation will render its employees jobless. Who will pay for this disaster? Congress, which is investigating the Quedancor mess, is waiting for the extradition from the United States of former agriculture secretary Jocelyn “Jocjoc” Bolante, whose testimony is also needed in connection with the P728-million fertilizer fund scam. Bolante had fled to the United States as the Senate sough...