I am republishing here my exchange of letters (plus pertinent papers) with the recently departed friend Alejandro Lichauco, an outstanding Filipino economist and patriot, who has recently departed. Our friendship is dedicated to the cause of national independence, democracy, development, social justice and peace for the benefit of the Filipino people. Please click the URL: http://www.bayan.ph/wp-content/uploads/2011/05/Papers-on-the-Philippine-financial-crisis-and-its-roots-Nov-2004.pdf