 Plunder was achieved through the creation of government monopolies, awarding loans to cronies, forced takeover of public and private enterprises, direct raiding of the public treasury, issuance of Presidential decrees that enabled cronies to amass wealth, kickbacks and commissions from businesses, use of dummy corporations to launder money abroad, skimming of international aid, and hiding of wealth in bank accounts overseas.The first formal elections since 1969 for an interim "Batasang Pambansa" (National Assembly) were held on April 7, 1978.Sen.