Crash of 2008/Timelines: Difference between revisions
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==The year 2007 (summary)== | ==The year 2007 (summary)== | ||
US ''' ''Subprime | US ''' ''Subprime'' mortgage crisis''' [http://news.bbc.co.uk/1/hi/business/7073131.stm]. | ||
'''US house prices fall''' throughout 2007 [http://money.cnn.com/2007/05/14/real_estate/first_quarter_NAR_prices/index.htm]. | '''US house prices fall''' throughout 2007 [http://money.cnn.com/2007/05/14/real_estate/first_quarter_NAR_prices/index.htm]. | ||
Revision as of 12:29, 24 September 2008
For definitions of the terms shown in italics, 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 interbank markets
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].