I have heard too many people say that the "Wall Street Bailout" is simply going to put money into the pockets of already overpaid Wall Street execs.  Believe me that the problem is much more global than that.  Unfortunately our media is not giving us much information about this side of the crisis.

Investments in Lehman from banks and governments around the world has created a crisis worldwide.  China, where the banks are still government controlled has lost over $300 million on their investments in the failed company.  India, representing 1.3 billion people, has lost over $400 million although since this was from private companies rather than government owned, it may have less impact on the world.  Japan, the largest supporter of the US economically has lost $1.6 Billion.

Russia has fallen victim to their own actions but it has been exacerbated by our financial crisis.  Following Russia's invasion in Georgia, billions of dollars investing in that booming economy started being withdrawn in favor of more secure markets.  The US financial crisis piggybacked on this trend and sent the entire Russian stock market into chaos.  The Russian stock market was forced to close last week following the announcement of our crisis.  It reopened last Friday but after a few hours, they were forced to close again.

Last night the President of the US used grim language to drive home the seriousness of the situation.  Jobs in the US, loans for homes and other projects are all at risk.  If we don't solve this problem domestically, it will affect us here at home but it will also kill the global economy we live in today.  This is serious although I have confidence that, now recognizing the problem, we will find a solution quickly.