Ethics Advisors (Washington do-do brains) in Washington advised Former Pres GWBush that the USA owes Russia for the Alaskan Purchase.
You see, when the 'Tsar' sold it, he was an acting 'dictator,' the the sale is 'ethically' invalid, and the USA owes arrears to Russia in order to give the Russian people a fair price on the land--considering the oil underneath it & all.
So GW Bush has followed thru, and conducted a financial scam upon America and the scam is perpetuated by Obama.

The scam allowed banks to give improper loans to Russian Oligarchs who then deliberately defaulted on the loans in the manner as described below. Under Bush we sent Trillions to Russia, see below.....the Bank failures are due to Russian Loans!!

America is a idiot to believe that housing can do the damage that's been done...it's much more massive & IT'S DELIBERATELY IMPOSED BEGINNING WITH THE BUSH ADMINISTRATION......STOP THE LOANS TO RUSSIA!!!



The 2008 global recession and credit crisis-

Many oligarchs took out generous loans from Russian banks, bought shares in Russian companie, and then took out more loans from western banks against the value of these shares.

One of the first to get hit by the global downturn was Oleg Deripaska, Russia's richest man at the time whose net worth was $28 billion in March 2008. As Deripaska borrowed money from western banks using shares in his companies as collateral. Expectations for loan recoveries are nonexistent.