Quote: In 2009, Ben Bernanke Said The 2008 Financial Crisis Was Worse Than The Great Depression

“So now we come to this very intense period in
September and October. As a scholar of the Great
Depression, I honestly believe that September and
October of 2008 was the worst financial crisis in global
history, including the Great Depression. If you look at
the firms that came under pressure in that period. . .
only one . . . was not at serious risk of failure. [] So
out of maybe the 13 — 13 of the most important
financial institutions in the United States, 12 were at
risk of failure within a period of a week or two”.


Financial Crisis Inquiry Commission, Closed Session, Ben Bernanke, Chairman of the Federal Reserve, November 17, 2009

source: http://fcic-static.law.stanford.edu/cdn_media/fcic-docs/FCIC%20Interview%20with%20Ben%20Bernanke,%20Federal%20Reserve.pdf

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