“Indeed, the FHA was born out of the Great Depression, which was also caused in significant part by a foreclosure crisis. Mortgages in the early 1930s were mostly three- to five-year 'bullet' loans, which did not amortize and were due in full at maturity.” YearsThreeBornFiveCrisisDuesSignificantMaturityFive YearsBulletsLoanMortgageGreat Depression1930sForeclosureDodging Bullets Author:Mark Zandi
“Redistribution of wealth would require enormous amounts of investment. The only time an elite has accepted this has been during crises, such as in America in the 1930s under Roosevelt.” Has BeensAmericaWealthAmountCrisisInvestmentAcceptedEnormousElitesOnly Time1930sRedistribution Of Wealth Author:Susan George
“This crisis of long-term unemployment is having a profoundly damaging impact on the lives of those bearing the brunt of it. We know this thanks to a series of careful studies of the problem conducted in the depths of the 1930s Great Depression.” KnowsLongProblemTermStudyCrisisImpactSeriesDepthCarefulThanksLong TermUnemploymentGreat Depression1930s Author:Bob Ehrlich
“The government is now in a position to do what Franklin D. Roosevelt did during the Great Depression of the 1930s - use a crisis of the times to create new institutions that will last for generations. To this day, we are still subsidizing millionaires in agriculture because farmers were having a tough time in the 1930s.” StillsUseGovernmentLastsGenerationsPositionToughCrisisInstitutionsThis DayFarmersAgricultureTough TimesMillionaireFranklinGreat Depression1930s Author:Thomas Sowell
“Let's stop for a second and remember where we were eight years ago [in 2008]. We had the worst financial crisis, the Great Recession, the worst since the 1930s. That was in large part because of tax policies that slashed taxes on the wealthy, failed to invest in the middle class, took their eyes off of Wall Street, and created a perfect storm.” YearsEyeRememberPerfectClassStreetsMiddleWorstPolicyWallTaxesYears AgoCrisisFinancialEightStormMiddle ClassWealthyRecessions1930sFinancial CrisisGreat RecessionPerfect Storm Author:Hillary Clinton
“Keep in mind that, when I came in, we had had a crisis that was the worst we've seen since the 1930s, and working with people like Chancellor Merkel, working with the G-20 and other institutions internationally, we were able to stabilize the financial system, stabilize the US economy and return to growth.” PeopleMindAbleGrowthEconomyWorstReturnCrisisInstitutionsFinancial1930sFinancial System Author:Barack Obama
“There was a direct jobs program from the Rooselvelt administration in the 1930s. The Justice Department has set up a task force to investigate the banks and the mortgage crisis but that's a little too late. Whenever they report they will report the obvious. It will be too late to impact the people who need the help the most.” PeopleNeedsLittlesHelpingJobsForceJusticeLateProgramTasksDirectCrisisImpactObviousAdministrationDepartmentReportsToo LateMortgage1930sTask ForcesMortgage Crisis Author:Jesse Jackson
“In the immediate postwar era, financial crises in advanced countries were rare events, and before 1970 did not happen at all. Since then they have occurred more often, and 2008 was the most damaging of them all to date. If we have moved back to a regime of regular financial crises - like the one we had from the 1870s to the 1930s - then our economic future will be very different from our recent past.” IfsDifferentCountryHappensPastEconomicEventsCrisisMovedFinancialErasRegimes1930sFinancial CrisisRecent PastRare Events Author:Alan M. Taylor
“We're facing a crisis that we have not provoked, yet we are the main victims of the greatest crisis since the 1930s. It's not been generated by factors external to the system, but by factors that are of the very essence of the system: exacerbated individualism, deregulation, competition, and so on.” CrisisVictimCompetitionIndividualism1930s Author:Rafael Correa
“Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.” ResultsCrisisFinancialDespitePassiveReservesSevereMandatesGreat Depression1930sFederal ReserveFinancial Crisis Author:Ben Bernanke