A few words on the credit crisis

Even if the bailout had been passed, it would have been far from over. A few stats..

(1) Total credit market debt owed was $51,019.0bn, or 3½ times nominal GDP.
(2) Domestic nonfinancial sectors owed $32,397.1bn.
(3) The financial sectors owed $16,522.7bn and the “rest of the world” owed $2,099.1bn.
(4) The largest amounts of the total debt are in mortgages ($14,804.2bn), corporate and foreign bonds ($11,330.2bn), Agency- and GSE-backed securities ($7,889.0bn), and Treasury securities ($5,250.6bn).