Alsadius comments on Mathematicians and the Prevention of Recessions - Less Wrong

8 Post author: JonahSinick 25 May 2013 04:12AM

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Comment author: Alsadius 26 May 2013 06:30:39AM 2 points [-]

Well from 2009-2013, the US government spent $18.3 trillion in total. Do you really think that half of that went to banks, instead of old people and soldiers?

Saying the bailouts cost $9T is like saying that the derivative market is measured in trillions of trade a day - yes, that's the face value, but it's not the actual amount of cash trading hands, any more than the travel insurance I bought today with $10M of coverage is a $10M contract.