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Ben Bernanke, the former head of the Federal Reserve, said the 2008 financial crisis was the worst in global history, surpassing even the Great Depression. His statement is raising eyebrows. While the Great Recession was scary, there's a reason it wasn't dubbed a depression: Bernanke's aggressive policy response.
A recession worse than 2008 is coming. The S&P 500 has begun 2016 with its worst performance ever. This has prompted Wall Street apologists to come out in full force and try to explain why the chaos in global currencies and equities will not be a repeat of 2008.