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The 2008 financial crisis, also known as the global financial crisis, was a major worldwide economic crisis, centered in the United States, which triggered the Great Recession of late 2007 to mid-2009, the most severe downturn since the Wall Street crash of 1929 and Great Depression.
This article gives the timeline of the Great Recession, which hit many developed economies in the wake of the 2007–2008 financial crisis.. Note: The date indicated is that of the official announcement by the department or the public agency in charge of the measurement of the economic activity of the country.
As of mid-November 2008, it was estimated that the new loans, purchases, and liabilities of the Federal Reserve, the Treasury, and FDIC, brought on by the 2007–2008 financial crisis, totalled over $5 trillion: $1 trillion in loans by the Fed to broker-dealers through the emergency discount window, $1.8 trillion in loans by the Fed through the ...
U.S. attorneys said lenders’ misconduct in the years preceding the financial crisis had contributed to the devastation of people all over the United States. “In the wake of the 2008 financial ...
Iceland fell into an economic depression in 2008 following the collapse of its banking system (see 2008–2011 Icelandic financial crisis). By mid-2012 Iceland is regarded as one of Europe's recovery success stories largely as a result of a currency devaluation that has effectively reduced wages by 50%--making exports more competitive.
The collapse of the housing market brought the U.S. financial system to the brink of collapse in the fall of 2008, with the U.S. government stepping in to rescue banks and financial institutions ...
The federal government spent $2.8 trillion in taxpayer funds to bail out corporations such as General Motors, Chrysler, Citigroup, Bank of America.
Dow Jones Industrial Average Jan 2006 - Nov 2008. Beginning with bankruptcy of Lehman Brothers at midnight Monday, September 15, 2008, the financial crisis entered an acute phase marked by failures of prominent American and European banks and efforts by the American and European governments to rescue distressed financial institutions, in the United States by passage of the Emergency Economic ...