Quote of the day - Paulsen

I finally finished In Fed We Trust and I'll comment about it later. Former Treasury Secretary Paulsen summarizes the actions of the Fed and Treasury this way:

"We succeeded in keeping the financial system from collapse, but people were unhappy that we didn't prevent a recession. It's hard to get kudos for what didn't happen."

What didn't happen was another great depression. All of the ingredients were there plus some extras. That we are not in worse shape than we are right now is quite remarkable.