Greenspan, Bernanke: Greatest financial crisis globally ever.
Former Fed Cairman Alan Greenspan has a peeimistic view of the current economy. It is a clear move from describing the economy as wosrt “since” the Great Depression, to talking about it in terms of being the worst ever, even worse than the Great Depression.
“The recent financial crisis was potentially more harmful than that in the 1930s because “never had short-term credit literally withdrawn.” Housing starts and motor vehicles were “dead in the water.” He also said small businesses show few signs of improving because lenders are struggling with commercial real estate mortgages.”
“A lot of things happened, a lot came together, [and] created probably the worst financial crisis, certainly since the Great Depression and possibly even including the Great Depression,” Bernanke said
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