What happens on Wall Street doesn't stay on Wall Street

Withdrawals hit Bank of East Asia

I'll admit that I don't really understand economics, and global economics even less. But I know what a run on a bank looks like.

The Bank of East Asia has denied rumours that it is in financial trouble, after thousands of customers queued to withdraw their savings.

And I can tell that this is not unrelated to the things that are happening in New York.

It also said that its total outstanding exposure to US bankrupt bank Lehman Brothers was HK$422.8m (£29m), and to US insurer AIG was HK$49.9m (£3.5m).

I'm feeling real optimistic about life right now....