Thursday, September 18, 2008

The Philippine Financial System and the Lehman Fiasco

The banking reforms that started a few years ago have produced good results. The financial crisis in the United states seems just like acne to the Philippines because of the numerous mergers and acquisitions of the different banks. Banks are now large enough to absorb their exposures to Lehman Brothers and AIG, something that was quite unimaginable during the past few years.

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