Policymaking in 2008 raced in 6-10 weeks through the same recapitalization sequence (lend against distressed assets, then realize you must buy bank stock to recapitalize) that took from January 1932 (RFC) to March 1933 (FDR) in the Depression—encouraging for recovery speed, but the rapidity itself unsettles investors and consumers who can't catch their breath.

factualpending

Speaker

Eric Rauchway

Evidence Quote

we actually went in the last you know whatever it's been now 6 to 10 weeks through very swiftly the same policy making process that it took from January '32 to March '33

Source

Eric Rauchway on the Great Depression and the New Deal 12/01/2008EconTalk
Created: 6/17/2026, 10:09:28 AM

My Notes

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