7.7 Trillion Dollars

That was the largest dollar amount funded, guaranteed or otherwise backstopped by the Fed during the financial crisis. US GDP is a little more than twice that.

We need a more distributed financial system. The cost of concentration now vastly exceeds the efficiencies of scale.



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: