Crash of 2008/Timelines: Difference between revisions
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'''Collapse of the inter-bank market''' (which banks use to borrow from each other). | |||
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Revision as of 04:12, 24 September 2008
For definitions of the terms used here, see the related articles subpage of the main article.
The 1980s
Financial deregulation In the USA [1], [2], the UK [3].
Savings and Loans crisis - Failure of 296 US "savings and loans" mortgage lenders [4]
The 1990s
Failure of a further 451 US "savings and loans" mortgage lenders
The year 2007 (summary)
US Subprime mortgage crisis [5].
US house prices fall throughout 2007 [6].
2007
August
Collapse of the inter-bank market (which banks use to borrow from each other).
September
UK Northern Rock bank run [7]
The year 2008 (summary)
2008
January
US mortgage lender Countrywide sold to Bank of America after its share price drops by 48% [8].
February
British government nationalises Northern Rock bank [9].
August
US Government's Fannie Mae and Freddie Mac rescue [10].
September
7 Fannie Mae and Freddie Mac nationalised [11].
12 Lehman Brothers seek bankruptcy protection [12]
15 US Federal Reserve Bank rescues Bear Stearns bank [13].
17 US government nationalises American Insurance Group [14].
18 US Treasury and Federal Reserve Bank propose a scheme to take "toxic assets" out of the US banking system [15].
23 US Federal Reserve Bank protects Goldman Sachs and Morgan Stanley banks[16].