the Nation was on course for a cataclysm that could have rivaled or surpassed the Great Depression.
Editor's note · Context
Ben Bernanke described the severity of the financial crisis in late 2008.
Share & report
More from Ben Bernanke
The Congress and the Administration should consider replacing the sharp, front-loaded spending cuts required by the Sequestration with policies that reduce the federal deficit more gradually in the near-term, but more substantially in the…
Although monetary policy is working to promote a more robust recovery, it cannot carry the entire burden of ensuring a speedier return to economic health.
If it doesn't achieve the objective of eliminating too-big-to-fail, I think we ought to come back and decide or ask Congress whether they might take additional steps.
As I have mentioned, it is a cost of these policies and it is one that we take very seriously.





