Skip to main content

Newsroom

September 17, 2012

Slate: Did the Financial Crisis Cost Us $12.8 Trillion?

 

“How much did the financial crisis cost us? Having an answer would be good to know because the financial industry complains—as you would expect—that stricter regulation of their practices will carry an economic cost. And so it might. But is the cost greater or less than the benefit?

Better Markets, a group dedicated to lobbying for stricter financial reform, has an estimate of $12.8 trillion. That’s a lot. Where’d they get it? Well, first they totaled up the 2008-2018 “output gap,” the total amount of lost production due to the recession, and found it was $7.6 trillion. Then they threw in an extra $5.2 trillion as the amount of output we would have lost if not for the “extraordinary fiscal and monetary policy actions” undertaken to prevent collapse…”

Read Matthew Yglesias’ full article here

In the News
Share

MEDIA REQUESTS

For media inquiries, please contact us at
press@bettermarkets.org or 202-618-6433.

Contact Us

For media inquiries, please contact press@bettermarkets.org or 202-618-6433.

To sign up for our email newsletter, please visit this page.

Name(Required)
This field is for validation purposes and should be left unchanged.

Sign Up — Stay Informed With Our Monthly Newsletter

This field is for validation purposes and should be left unchanged.

For media inquiries,

please contact press@bettermarkets.org or 202-618-6433.

Donate

Help us fight for the public interest in our financial markets, protecting Main Street from Wall Street and avoiding another costly financial collapse and economic crisis, by making a donation today.

Donate Today