摘要
IN 2008, the U.S. and European banking system as a whole became insolvent, requiring US $1.7 trillion in taxpayer bailouts. Even
IN 2008, the U.S. and European banking sys-tem as a whole became insolvent, requiring US $1.7 trillion in taxpayer bailouts. Even this loss was small compared to the cost ofthe ＂Great Recession＂ whiclh the banking crisis precipitated - it has taken over four years for the G7 economies to simply regain pre-crisis output levels.
