Subprime mortgage crisis/Timelines: Difference between revisions
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==The 1980s== | |||
'''Financial deregulation''' [http://landru.i-link-2.net/monques/dereg80.html], [http://www.fdic.gov/regulations/laws/rules/8000-4100.html]. | |||
'''Savings and Loans crisis''' - Failure of 296 US "''Savings and Loans''" mortgage lenders [http://www.fdic.gov/bank/analytical/banking/2000dec/brv13n2_2.pdf] | |||
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==2007== | ==2007== | ||
== | ===June=== | ||
25 Two Bear Stearns '''''hedge funds'' threatened''' by losses from mortgage defaults [http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=aYDTeHYnV3ms]. | |||
===August=== | |||
6 '''American Home Mortgage bankrupt''' [http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article2208983.ece]. | |||
9 French bank '''BNP Paribas freezes funds''' because it is .unable to value its US mortgage-backed assets. [http://invest.bnpparibas.com/en/news/default.asp?Code=LPOI-75W9PV] | |||
Revision as of 10:30, 10 October 2008
The 1980s
Financial deregulation [1], [2].
Savings and Loans crisis - Failure of 296 US "Savings and Loans" mortgage lenders [3]
1990 - 2003
- Progressive discount rate cuts by Federal Reserve Bank (from 7% in 1990 t0 0.75% in 2003 [4].
- Housing boom begins (8% increase 2002 to 2003)
1999
Fannie Mae eases credit terms for subprime loans [5]
2003 - 2006
- Progressive discount rate increases (from 0.75% to 6.25% in 2006).
- Housing boom continues (Average 2006 house price about 70% above 200 level)
2007
June
25 Two Bear Stearns hedge funds threatened by losses from mortgage defaults [6].
August
6 American Home Mortgage bankrupt [7].
9 French bank BNP Paribas freezes funds because it is .unable to value its US mortgage-backed assets. [8]