When Bear Stearns, a dominant Jewish partnership company collapsed several months ago, it shocked the world. An 86-year old financial giant’s sudden demise amidst the financial crisis America is currently facing shook every corner of Wall Street and the Financial World. Only a few months later, a few days ago, the Lehman Brothers declared bankruptcy protection but unlike what happened to Bear Stearns, the 158 year-old grand old name on Wall Street was not rescued by the US Feds.

Goldman, Sachs & Co., another Jewish financial giant is the only one left of these pioneers in banking and brokerage house is still going strong, if one would assume.

Are we seeing the collapse of the Jewish Empires that control much of the Financial resources on Wall Street?

On the other hand, AIG (American) was lucky to have the US Feds bail them out for an 85 billion dollar loan recently. In the Philippines, several banks have investments on both Lehman Brothers and AIG. How does the AIG incident affect Philamlife in the Philippines? Not much, according to Philamlife President &. CEO Jose L. Cuisia, Jr., as its Financial Books are separate. I may not fully understand why it won’t affect Philamlife but one thing for sure - every Filipino will probably be cautious now with placing investments with AIG and Philamlife.

Philippine Banks and Financial Institutions with exposures to Lehman Brothers

Banco de Oro, Metrobank, RCBC and SunLlife Philippines recently disclosed that they have exposures with Lehman Brothers. So far only these 3 local financial institutions admitted. BDO and Metrobank said they had put up loss provisions totalling USD94 Million. RCBC is allocating about USD USD20.8 Million for its USD30 Million (Php1.4 Billion) in “structure products” linked to Philippine bonds and issued by Lehman (source: SEC). SunLife has 334 Million Canadian dollars. Security Bank also disclosed exposure with Merrrill Lynch totalling to USD10 Million (Php480 Million).

The recent financial crisis in the US sent some ripple effects worldwide. And it would certainly affect developing economies like the Philippines. Which made me think investment security nowadays cannot be guaranteed, and risks are more than doubled. Perhaps the best way to prepare for the future is to set aside some money in a low interest income savings account on reputable banks (still not a guarantee), but at the same time invest in some passive income opportunities that will give substantial returns.

Probably this is where economics is heading - every person is empowered to make investments and manage returns by himself. WIth the advent of e-commerce, internet business opportunities, and technologies, man is now more than empowered to make himself rich by taking advantage of the vast opportunities the online world can offer.

If you want to know the latest posts, you can subscribe using your favorite RSS feed reader or get them delivered to your email inbox. Thanks!