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RECAPITALIZATION….Via a link from John Quiggin, here’s some raw data for you. It’s several years old (too old to include data on Japan’s banking crisis), but it includes historical data on the initial cost of recapitalizing banking systems after most of the other financial crises of the past few decades. Given the different nature of every crisis, and the different nature of small countries vs. big countries, it’s hard to suggest that there’s any kind of “average” recapitalization required after a banking collapse. Nonetheless, the historical records suggest that 5% of GDP would be a reasonable guess and 10% would hardly be out of line, especially given the epic nature of our current meltdown.

And how are we doing in comparison? So far the Treasury has committed $250 billion as part of the Paulson bailout plan and another $100 billion or so to Bear Stearns, AIG, and Fannie/Freddie. To get to 5% of GDP we’d need to increase that to $700 billion. To get to 10% we’d need to increase it to $1.4 trillion. Just some benchmarks to keep in mind.

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REAL QUICK, REAL URGENT

Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

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