Macks, the owner of Legacy Group is Celso delos Angeles. He is based in Bicol region. It's more likely than not that he invested in stocks in Wall Street which we know now that most are almost negative of value already.
Gaka panic attack ko ani na news. My aunt in Davao works at Legacy. She has big exposure and she also had friends invest their money in Legacy. Not only is she losing money, she will also be jobless. My aunt in CDO invested her husband's retirement unya ang interest monthly maoy gigamit for monthly consumption nila. And now it's gone.
My cousin is president/manager of one rural bank in Cebu owned by Legacy. She called me this afternoon and she asked for prayer kay naa sya'y prospective buyer sa iyang bank. She is not worried about catering the massive withdrawal these days but ga worry sya come early January kay daghan mag mature na time deposits. Hay, grabeh kalisud jud. All these talks about bank holidays reminded me of my own experience back then as a banker of a struggling bank. Dili lalim gajud! You have to face the wrath of your clients...
grazie7y, unsa nga bank nag manage imong cousin? basin mao nay manager sa branch nga akong gi depositohan? actually, gisige man namo ug balhin among money from branch to branch sa PCRB ug PRB. kadtong didto pa ko sa liloan, sa liloan sad. then balhin sa consolacion and finally diha na sa maguikay branch sa PCRB ug sa ac cortes branch sa PRB diha tanan sa mandaue among last deposit. before namo gi close.
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