Sunday, Sep 21, 2008
Always like to read the Prof.
FT: More and different, including a debt-for-equity swap for the financial sector
I expect that Secretary Paulson or his successor will, if Congress grants the $700 bn request, be back for more before long. Probably at least another $700 bn, as it is unlikely that a crisis of the magnitude we are witnessing will be resolved without the tax payer coughing up at least 10 percent of annual GDP. US GDP for 2008 is likely to be around $14.5 trillion, so you can do the arithmetic.
Posted by stevie dee @ 10:36 PM (143 views) Add Comment
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