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Friday, May 1, 2009 at 3:51 AM
3:51AM

Global financial crisis takes 6% off the top

DateFriday, May 1, 2009 at 3:51AM

INTERNATIONAL: "I.M.F. Puts Bank Losses From Global Financial Crisis at $4.1 Trillion," by Mark Landler, New York Times, 22 April 2009.

The loss is equal to about 6% of global GDP. The stimulus is about one-quarter of the loss, so about 1-2% of global GDP.

The U.S. accounts for $2.7T of the $4.1T--ouch.

"Glimmers" of stabilization seen, in large part due to the stimulus actions.

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