The inflation-adjusted cost of the Marshall plan has been estimated at about $115 billion in current dollars. If we end up spending $250 billion on AIG, how much of that sum will go to European financial institutions and might it someday exceed the scope of the Marshall plan? (I do not, by the way, think that central banks ought to treat foreign creditors differently.)
Sunday, March 22, 2009
Getting Perspective
The following dollar amounts let you appreciate just how big some of this financial "bailout" really is. From the Marginal Revolution website I plucked this bit:
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