The Philippines: Sink or Swim?

Defense Secretary Fidel Ramos, 60, has been one of the more discreet members of President Corazon Aquino's fractious Cabinet. Ever since Aquino came to power in February 1986, Ramos has defended her government against a succession of coup attempts. But lately, the popular politician has set Manila abuzz with some calculated innuendos. Talking to the press about his loyalty to the faltering President, he said ambiguously, "I am loyal to the constitution and the presidency. There's nothing personal about it." Ramos cautioned government officials not to use the military as a "tool of the executive branch in the capricious exercise of its prerogatives."

Some observers think that Ramos, who this week becomes by Executive Order a de facto deputy commander of the armed forces, second in power only to Aquino, harbors his own ambitions for the presidential election scheduled for 1992. A recent poll gives him the highest approval rating of all officials in the country; he outpolled Aquino 79% to 73%. Amid rumors that Cory wants to kick him upstairs, might Ramos abandon her sinking ship of state first? "No," he said. Pause. Smile. "But then, I am a very good swimmer."

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MARTHA STEWART, when asked about the insider-trading scandal that, by her estimates, cost her company more than a billion dollars

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