What on earth is happening ?

I start to wonder, The Belgian government bailed out Dexia bank with more than 9 billion dollars, The Icelandic government bailed out Glitnir with 600 million dollars, a couple of investment banks in the US went into bankruptcy, AIG of course, The Representative House is the US yesterday defeated the 700-billion-dollar emergency rescue for the nation’s financial system that had been put together by the Bush administration and congressional leaders and the colossal financial chaos all around the world, the massive psychosis is spreading way too fast.
All these loans to people buying houses in the US, could that really made all this ??

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