I was watching the Commanding Heights third episode in class this afternoon. The first half of the episode deals with the financial crises of the 1990s, and after reading Arnold Kling and Simon Johnson this morning I thought to myself: boy the numbers got bigger! $50 billion to Mexico in 1994 (a whole country, not just a company); $55 billion to South Korea in 1997.

Can one compare countries in that timeline to the banks before and after TARP; where Lehman plays Thailand, I guess? It just seems that this video looks very different to me now than six years ago when it was first released.

Labels: economics