Attempt at Control: Fear & Loathing Around the Globe

Add to that, front pages around the world show people in the U.S. lined up at banks trying to withdraw their money. In response to the regional bank crisis in the U.S., Taiwan -4.51 percent, Shanghai -3.85 percent, and Japan down -1.86. The top three banks in Japan hold $44 billion in Fannie and Freddy debt, a figure that was published in a local newspaper.  On Sunday evening, the Bush Administration cobbled together a rescue after they were told by both Wall Street and foreign central bankers that it could have a cascading effect around the world.