Trillions of Dollars, Euros, and Pounds Thrown at the Problem

Abstract

In September and October 2008 a lot of damage was done to market confidence. Bankers, traders, politicians, and government officials were telling everyone who would listen that the financial system was falling apart and the economy at large, at the edge of the precipice, could be saved only through massive injections of capital out of the public purse. But it was not difficult to perceive the lack of any precise plan on how to achieve a turnaround.