“When America Sneezes, the Rest of World Catches a Cold.”
That was a remark I heard last night on The BBC in regard to our financial crisis and the inability of Congress to pass the proposed Bailout Bill.
The BBC: US failure hits European shares
The New York Times: Authorities Aid Banks in Europe
The turmoil that has rocked the United States banking system spread to Europe on Monday, buffeting institutions in at least four countries with a chain of new failures.
As more banks fail in Europe, we should be mindful that we live in a Global Economy.
“Aim for Understanding”