from Patrick McKenzie | by Patrick McKenzie

The numbers are a bit numbing but important to understand just how large they are. t.co/MiZYCSf9Zq

That’s like, hmm, percentage points of the total bailout required of the S&L crisis, where more than a thousand financial firms went under.

(Discount for inflation etc etc but one doesn’t see ten billion dollar conversions of depositors’ money that frequently is what I am saying.)