I guess it was not a complete shock that a financial services company would file for bankruptcy in the US especially with what's been happening to their economy. The only shock was that it was a company as big and as established as Lehman Brothers.
The question here is why would the US government allow such an established financial institution like Lehman Brothers go down while Merrill Lynch and Freddie Mac and Fannie Mae were "seemingly" given a helping hand.
How much percentage of China's overseas investment does Lehman Brothers have? Now thats a US$ 1 trillion question.
In the Philippines; there are reports going around that some local banks and some financial services company will lose money (big or small... we'll soon find out) or be affected by Lehman Brothers going bankrupt.
AIG is having "financial difficulties" as well. They supposedly hold US$ 1 trillion in financial assets from 130+ countries all over the world.
How will the new US President cope with these problems?
If you've read my previous blogs..... where's those general sweeping statements I'm waiting for?:)
sigh...... deep sigh.....
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