Experts from across the political spectrum warned that if we did not act, we might face a second depression.
One year later, it is largely thanks to the Recovery Act that a second depression is no longer a possibility.
He was instrumental in designing and helping us pass an economic plan that prevented a second depression -- a plan that is slowly but surely moving us in the right direction again.
Despite the fact that I find myself firmly in the camp of believing less market intervention is better than more, I do find myself standing in respect and appreciation of the work done by our public servants at the Fed whose efforts in 2008-2009 prevented a second Depression.
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Finally, a strong middle class can only exist in an economy where everyone plays by the same rules, from Wall Street to Main Street. (Applause.) As infuriating as it was for all of us, we rescued our major banks from collapse, not only because a full-blown financial meltdown would have sent us into a second Depression, but because we need a strong, healthy financial sector in this country.
We just came through a year in which a second Great Depression was averted.
We were in a severe economic crisis, with predictions of a second Great Depression.
We would have looked -- we would have been looking at a second Great Depression.
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So every alarm bell was ringing at the prospect of a second Great Depression.
This financial crisis nearly pulled the entire economy into a second Great Depression.
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Our financial system teetered on the brink of collapse and the threat of a second Great Depression loomed large.
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The economy was at the edge of a cliff, and the possibility of a second Great Depression was frighteningly real.
And we were on the verge of a financial crisis that threatened to plunge our economy into a second Great Depression.
And the U.S. economy, indeed global economies, came extremely close to a catastrophic meltdown into a second Great Depression in 2008.
The fear among economists across the political spectrum that was -- was that we were rapidly plummeting towards a second Great Depression.
Because of you, we were able to prevent a second Great Depression.
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In the absence of such rules, our financial markets spun out of control, credit markets froze, and our economy nearly plummeted into a second Great Depression.
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Obviously the economy has been uppermost on our minds and I had to take a series of steps very quickly to make sure that we prevented the country from going into a second Great Depression, that the financial markets were stabilized.
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So, when a work crisis triggered a second bout of depression and panic attacks, he had no intention of trying meds again.
The findings come as a second study suggests that depression could be an early sign of the disease.
Finally global economies, which had reached the point of looking over the abyss into a potential second global Great Depression, began to pull back from the brink.
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Of course, hurricane season starts June 1st and we still have a tropical depression -- the second named storm of the season.
It started with the final stages of a big bull market, then we got the second biggest bear market since the Great Depression, a five-year bull market in which stocks over doubled, the biggest bear market since the Great Depression, and the massive start of a new bull.
There is overwhelming agreement among economists that the Second World War was responsible for bringing about a decisive end to the Great Depression.
The record since then has been one of stopping the bleeding, arresting the freefall of our economy, preventing the second Great Depression in American history, and putting us back on a course towards economic growth and job creation.
Second, we were staring down the barrel of the deepest recession short of a depression this country has seen.
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