2008 Meltdown Was Worse Than Great Depression, Bernanke Says - Real Time Economics - WSJ
"Former Federal Reserve Chairman Ben Bernanke, a
prominent student of the Great Depression, contends that the 2008
financial crisis was actually worse than its 1930s counterpart…
“September and October of 2008 was the worst financial crisis in
global history, including the Great Depression,” Mr. Bernanke is quoted
as saying in the document filed with the court. Of the 13 “most
important financial institutions in the United States, 12 were at risk
of failure within a period of a week or two.”
Former Treasury Secretary Timothy Geithner is quoted in the document offering a similarly apocalyptic assessment. From Sept. 6 through Sept. 22, the economy was essentially “in free fall,” he said.
It's actually double-screwed now, and so far down the rabbit hole its beyond Orwellian.
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