On Sep 28, 2008, at 2:31 AM, Joanna wrote:
> Interesting...
> http://www.nakedcapitalism.com/2008/09/new-imf-study-of-banking-crises.html
> I've only skimmed it
Standards these days...
Anyway, a quote from the IMF:
> There appears to be a negative correlation between output losses and
> fiscal costs, suggesting that the cost of a crisis is paid either
> through fiscal costs or larger output losses.
So much for the "no bailout" position.
Doug