Tuesday, September 16, 2008

Lehman Brothers Bankruptcy

In the news was the filing for bankruptcy of the renowned and long-established financial institution in America, the Lehman Brothers. It is a 158 year old company that survived world wars, the Asian financial crisis and the collapse of hedge fund Long-Term Capital Management, but not the global credit crunch?

Sunlife, Metrobank and Banco de Oro are just some of the Philippine companies that had investment with Lehman Brothers, as mentioned in the news, and I hope that it will not affect the Philippine economy badly. I guess there might be more big companies worldwide that might have invested with them so let’s pray that everything ends well for these companies and their valued clients. God bless the earth ♥♥♥


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