Lehman Brothers collapse no effect to RP ?

The Philippine banking system remains sound despite the collapse of US investment firm Lehman Brothers said Bangko Sentral ng Pilipinas Governor Amando Tetangco

The country's banking system has not been significantly affected. Furthermore, the Philippine domestic banks' exposure to structured products issued by Lehman are well-cushioned by the banks' capital base, the government authorities kept on assuring the public.

The government also vowed to continue to monitor developments in the global financial markets since these could effect impact not just in the banking sector but in economic growth as well.

We only hope it will not affect really the Philippine economy because if it does it will be the small ones that will be hit badly although the poor would not care maybe on the collapse of the Lehman Brothers, they would not even know who could they be.

But what they are more concern is when the value of peso would be getting smaller and smaller. We hope that the Lehman Brothers bad state will be the only and the last. Or are there others on the line too. I hope none so far - God Forbids if others are marching down the line !