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Saturday, September 4, 2021

Basic timeline of the financial crisis of 2007-2008 in the United States

This post is a basic timeline of the financial crisis of 2007-2008. There are 21 events listed below chronologically. Source: Wikipedia

• Glass-Steagall Act is repealed (1999)
• U.S. housing market reach peak prices (2006)
• New Century files for bankruptcy (Apr. 2nd, 2007)
• Bear Stearns liquidates two hedge funds (Jul. 31, 2007)
• Northern Rock bank run (Sept. 14, 2007)
• Bank of America acquires Countrywide Financial (Jan. 11, 2008)
• JPMorgan Chase acquires Bear Stearns (Mar. 17, 2008)
• IndyMac files for bankruptcy (Jul. 11, 2008)
• U.S. government takes over Fannie Mae and Freddie Mac (Sept. 7th, 2008)
• Bank of America acquires Merrill Lynch (Sept. 14th, 2008)
• Lehman Brothers files for bankruptcy (Sept. 15th, 2008)
• Federal Reserve takes over American International Group (Sept. 16th, 2008)
• Federal Reserve agrees to temporarily insure money market (Sept. 19th, 2008)
• Washington Mutual files for bankruptcy (Sept. 26th, 2008)
• Emergency Economic Stabilization Act passed (Oct. 3rd, 2008)
• Federal Reserve creates TALF lending program (Nov. 25th, 2008)
• Troubled Asset Relief Program (2008-2014)
• American Recovery and Reinvestment Act passed (Feb 13, 2009)
• Dodd-Frank Wall Street Reform and Consumer Protection Act passed (May 2010)
• Federal Reserve announces second round of quantitative easing (Nov. 3rd, 2010)
• Federal Reserve announces third round of quantitative easing (Sept. 13, 2012)