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Paulson Says U.S. Was 'Close' to Financial Collapse

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BUT WHAT DOES 'COLLAPSE' MEAN?, AND HOW IS IT WORSE THAN NOW?
"The U.S. economy came “very close” to collapsing into a second Great Depression and the government had no alternative to bailing out financial firms, former Treasury Secretary Henry Paulson said," according to Bloomberg.  “We easily could have had unemployment of 20 percent,” he said. “That would have meant millions of additional jobs lost, millions of additional homes lost, trillions more lost in savings. It would have been terrible.”
SOURCE:   Bloomberg

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