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September 17, 2012

Washington Post: How much did the financial crisis cost us? $12.8 trillion, one group says

“Is it even possible to tally up the total impact of the financial crisis? Better Markets tried to give it a shot and puts the price tag at “no less than $12.8 trillion.”

Better Markets, a non-profit that’s pushing for stricter rules on Wall Street, explains its calculations in a new report: $7.6 trillion is the estimated actual GDP lost between 2008 and 2018—what the country’s output would have been had the financial meltdown not occurred, according to data from the Federal Reserve Bank in St. Louis and forecasts from the Congressional Budget Office…”

Read Suzy Khimm’s full article here

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