This is from a Dominican paper today: “Economist Hector Salcedo has told Hoy that the US financial crisis is smaller in proportion than the crisis that affected the Dominican banking sector in 2003. He said that the salvage operation for fraud at Mercantil, Bancredito and Baninter banks represented 18% of the country’s Gross Domestic Product. He said that in the US, the financial bale-out only represents 5% of the GDP. Furthermore, he said the US has more mechanisms for tackling the crisis.” For this, we can be thankful, right? Hum…

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