Could We Have Had a Severe Recession Without the 2008 Financial Crisis?

Paul Krugman argues that it would have taken a dramatically different set of policies back in 2007 to prevent the Great Recession, and Brad DeLong argues that a much more modest set of initiatives might have sufficed. There is much to agree with in both posts. First here’s Krugman, quoted by DeLong: What It Would […] View the full post at: Could We Have Had a Severe Recession Without the 2008 Financial Crisis? Related posts: Bernanke: Economic Costs of Financial Crisis ‘Very Severe’ Dodd’s Chief Counsel Bought Financial Stocks During 2008 Crisis Like 2008, But Without the Banking Crisis