IRAQ WAR
>Estimated deployment of 30000 troops and $30bn.
>Actual deployment of 150000 troops and approx $600 bn till now.
>The most liberals estimates of the subprime crisis expect write downs of only $300 - 400 bn.
1907 - 2008
J.Pierpont Morgan rallied the Bankers and Trust institutions in 1907 to withstand the onslaught of recession. The write downs amounted to around $18bn. By coincidence it was J.P.Morgan,the bank, that bailed out Bear stearns in 2008 March.
J.Pierpont Morgan rallied the Bankers and Trust institutions in 1907 to withstand the onslaught of recession. The write downs amounted to around $18bn. By coincidence it was J.P.Morgan,the bank, that bailed out Bear stearns in 2008 March.
After a series of rescue measures in 1907 , The Federal Reserve was formed, most prudently, in 1913 as a regulator. Will we see the establishment of another, equally far reaching, institution now. A Federal Mortgage Crisis Emergency Reserve perhaps ?
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