Changes

Some [[free market]] advocates believe Congress and the [[Federal Reserve]] should not have bailed out failing firms and instead should have allowed market mechanism to operate.<ref>Free market advocates assert successful enterprises should be rewarded for doing things right, and failing businesses should be allowed to perish for making mistakes and not providing the public with the things they need or are in demand; government intervention can drag out recessions and depressions. [https://www.youtube.com/watch?v=zzTXaAXusiI]</ref><ref>https://www.youtube.com/watch?v=czcUmnsprQI</ref>  A 2005 study found that government corporate bailouts are often done  more for political considerations, and the economic resources allocated exhibit significantly worse  performance than resources allocated using practical considerations <ref>http://papers.ssrn.com/sol3/papers.cfm?abstract_id=676905</ref>

Some [[free market]] advocates believe Congress and the [[Federal Reserve]] should not have bailed out failing firms and instead should have allowed market mechanism to operate.<ref>Free market advocates assert successful enterprises should be rewarded for doing things right, and failing businesses should be allowed to perish for making mistakes and not providing the public with the things they need or are in demand; government intervention can drag out recessions and depressions. [https://www.youtube.com/watch?v=zzTXaAXusiI]</ref><ref>https://www.youtube.com/watch?v=czcUmnsprQI</ref>  A 2005 study found that government corporate bailouts are often done  more for political considerations, and the economic resources allocated exhibit significantly worse  performance than resources allocated using practical considerations <ref>http://papers.ssrn.com/sol3/papers.cfm?abstract_id=676905</ref>

The [[International Monetary Fund]] (IMF) calculated that the global financial crisis would produce $3.4 trillion in losses for financial institutions around the world by 2010.<ref>Peter Dattels and Laura Kodres, "Global Financial System Shows Signs of Recovery, IMF Says," [http://www.imf.org/external/pubs/ft/survey/so/2009/RES093009A.htm ''IMF Survey Magazine'' Sept. 30, 2009]</ref> World [[GDP]] in 2007 was approximately $70 trillion, so the immediate decline in the economic output of the planet was about 5%.

The [[International Monetary Fund]] (IMF) calculated that the global financial crisis would produce $3.4 trillion in losses for financial institutions around the world by 2010.<ref>Peter Dattels and Laura Kodres, "Global Financial System Shows Signs of Recovery, IMF Says," [http://www.imf.org/external/pubs/ft/survey/so/2009/RES093009A.htm ''IMF Survey Magazine'' Sept. 30, 2009]</ref> [[World GDP]] in 2007 was approximately $70 trillion, so the immediate decline in the economic output of the planet was about 5%.

==Overview==

==Overview==