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Article: COMPARING CURRENT STATE OF ECONOMY TO GREAT DEPRESSION, NEW DEAL
- Article from:
- US Fed News Service, Including US State News
- Article date:
- March 21, 2009
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PHILADELPHIA, Pa., March 20 -- Temple University issued the following news release:
Despite the government's $700 billion financial bailout of banks and insurers and the recently enacted stimulus package, stocks continue to fluctuate and concern grows regarding a widening global financial crisis. Some are comparing the current state of the economy to the Great Depression and the New Deal. But what exactly are the parallels and how does our current situation differ?
Similarities
Bryant Simon, professor of history and director of American studies at Temple University, says that there are some obvious similarities between today's crisis and the earlier one. "Of course, both crises were ...