it is clear that laissez faire was not an option; policy makers had to act. Not responding would have left both the economy and the government’s fiscal situation in far grave condition. We conclude the Ben Bernanke was probably right when he said that “We came very close in October [2008] to Depression 2.0.”

Mark Zandi and Alan Blinder, on the government options and response to the financial crisis and recession: via End of the Great Recession

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