That's the loans they'll make directly to banks, but not just to commercial banks as usual but also to securities dealers, which is something they haven't done since the Great Depression.
The world in the last six months--I don't remember any time, maybe even the Great Depression, when things went down quite so fast, quite so uniformly around the world.
Professor BRAD DELONG (Economics, University of California, Berkeley): You don't want to repeat the mistakes of the Great Depression, and the big mistake of the Great Depression was letting the banking system collapse.
This car, fittingly, found its way to Cornelius Vanderbilt Whitney , descendent of both oil and railroad tycoons, and needless to say, someone to whom the Great Depression wasn't a significant deterrent to the enjoyment of the good life.
"In nominal terms, we haven't had a price drop like this nationally since the Great Depression, " says Humphries.
We hadn't had consecutive quarters of such economic retraction since the Great Depression.
In the same way Great Depression thinking lingered long after the 1930s, the sense that things aren't going to get better could stick with people like Peters and her kids.
You don't want to leverage 10-year Treasuries unless you believe the Great Depression is around the corner and Treasuries trade at a 1% yield.
We had a situation that -- and if that weren't bad enough, then we had the worst economic collapse since the Great Depression.
Your constituents are feeling the pain of the greatest economic crisis since the Great Depression -- not to mention an economy that wasn't working for a lot of them long before this particular crisis hit.
Doesn't anyone in authority remember that the notorious Smoot-Hawley Tariff of 1929-30 precipitated the Great Depression by slapping prohibitive taxes on hundreds of imports, thereby setting off a devastating global trade war?
On day one, we took the reins and we said are going to make sure that we don't slip into a Great Depression.
And this week, that territory feels pretty familiar: I hadn't remembered until I saw it again that Duck Soup, made in 1933 at the height of the Great Depression, begins with talk of an economic bailout.
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