Philippines - GSIS, SSS urged to disclose Lehman investment
By HULYO
@julyteen (13252)
Davao, Philippines
September 21, 2008 8:32pm CST
The Government Service Insurance System (GSIS) and the Social Security System (SSS) were urged to assure their members that they are not affected by the US financial crisis as a result of the collapse of Lehman Brothers.
Education Secretary Jesli Lapus said Sunday that GSIS president Winston Garcia and SSS president Romulo Neri owe their members an explanation in the wake of reports that a number of Philippine banks have investment exposure in troubled US financial firms.
I am a member of SSS and i am worried about this news. I hope the government are true to their story.
More info just follow this link!
http://www.sunstar.com.ph/static/net/2008/09/22/gsis.sss.urged.to.disclose.lehman.investment.html
1 person likes this
4 responses
@rsa101 (40976)
• Philippines
22 Sep 08
Oh I hope they have less exposure to that company or else this might be a big trouble for these two large government agency that handles our pension. Many private companies have disclosed their financial exposure to these big company losing big time and so far I only heard BDO and some SunLife Insurance said their investments has little or no exposure at all. I hoep some will follow soon especially the two Government agency. For peace of mind of its members
@julyteen (13252)
• Davao, Philippines
15 Oct 12
I think the government take serious with the care to their members. SSS now don't have any issues about their financial status.
The problem I have, my loan whom I didn't paid for many years now become big. I applied a condonation of my loan and it was granted. I paid my loan for a year.
The problem I have, my loan whom I didn't paid for many years now become big. I applied a condonation of my loan and it was granted. I paid my loan for a year.
@jillmalitz (5131)
• United States
23 Sep 08
There are currently hearings by the banking committee of the congress right now. The Secretary of the Treasury is about to promote sweeping banking changes as well as put himself in charge. I worry about this because there is no oversight and security in this plan. I hope it works but who knows and this could affect the entire world.
@stephcjh (38473)
• United States
22 Sep 08
I live in the United States and our economy here is horrible. I do not think we will ever get out of the red area. It is so hard for people to live here now.
@aseretdd (13729)
• Philippines
22 Sep 08
I am also a member of SSS and when a big international firm suddenly becomes bankrupt... the whole world is affected... i just hope that the investment that GSIS and SSS put in Lehman Brothers is not that huge... or that it won't affect these two institutions... since a lot of people are counting on them...
