15th Anniversary of the Ramp-up to the Crisis

Retracing the Financial Crisis 2007 - 2008

Understanding history so that we don't repeat it.

 

"RETRACING the Financial Crisis 2007 - 2008" is a series of short articles below aimed at helping us better understand the course of the crisis by reliving the events in the moment rather than through hindsight and provide renewed perspective and insight. 

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• Introduction: "Retracing the Financial Crisis 2007 - 2008"

• Jan 1, 2007 - Happy New Year!

• Jan 1, 2007 - By the Numbers

• Feb 7, 2007 - HSBC Subprime Losses, Much Ado About Nothing

• Feb 27, 2007 - China Concerns, Dow Drops 3.3%, Shanghai Down 8.8%

• Mar 19, 2007 - Fortune Magazine ranks Lehman #1 "Most Admired" securities firm in U.S.  Bear Stearns #2

• 1Q2007 - New Accounting Rules, Housing Weakness and Level 3 Assets

• Apr 1, 2007 - By the Numbers

• Apr 2, 2007 - New Century Financial files for bankruptcy

• May 3, 2007 - UBS Closes Its Dillon Read Hedge Fund Arm

• Jun 7, 2007 - Bear Stearns suspends redemptions from its Enhanced Leverage Hedge Fund

• Jul 1, 2007 - By the Numbers

• Jul 17, 2007 - Two Bears Stearns Funds Worthless

• Jul 30, 2007 - IKB Deutsche Industriebank, AXA SA, First Major European Casualties

• Aug 3, 2007 - American Home Mortgage Plans to File for Bankruptcy

• Aug 6, 2007 - National City, Cerberus Halt New Mortgage Applications

• Aug 7, 2007 - Fed Holds Rates Steady Citing Robust Global Economy

• Aug 8, 2007 - Asset Backed Commercial Paper Peaks, Freezes

• Aug 9, 2007 - BNP Paribas Freezes Three Funds with $2.2 B in Assets

• Aug 9, 2007 - ECB Injects $95B Euro, $131B To Calm Markets

• Aug 13, 2007 - Sentinel Money Market Fund Halts Redemptions - Shakes Markets. Oops, Bad News Reporting

• Aug 17, 2007 - Sachsen LB Receives $23B Bailout

• Aug 17, 2007 - U.S. Fed, In Emergency Session, Drops Discount Rate 50 bps

• Aug 20, 2007 - Two Barclays Designed "SIV-Lite" Funds In Trouble

• Aug 28, 2007 - Cheyne Finance Plc, First SIV Default, Rating Agency Debacle

• Aug 31, 2007 - Reserve Primary Fund Dives Into Asset Backed Commercial Paper As Other Money Funds Divest

• Sep 12, 2007 - Northern Rock Asks Bank of England For Liquidity Assistance

• Sep 18, 2007 - Fed Again Lowers Rates 50 bps

• 3Q 2007 - "Run on Risk" In Full Swing

• Oct 1, 2007 - By the Numbers

• Oct 1, 2007 - UBS Announces $3.4B, First Major Bank Since HSBC To Report Subprime Mortgage Losses

• Oct 5, 2007 - Merrill Lynch $5B Writedown. Dow Jones Hits 56th Record High in 12 Months

• Oct 15, 2007 - Citi, JPM and BofA Announce $80B SIV Rescue Plan

• Oct 22, 2007 - Fed Governor Warns "Recovery May Be A Gradual Process"

• Oct 30, 2007 - Merrill Lynch Discloses $7.9B Exposure, CEO Resigns

• Nov 1, 2007 - Markets Plunge As Fed Intervention Disappoints

• Nov 3, 2007 - Mounting Woes At Citi Leads to CEO Prince's Resignation

• Nov 7, 2007 - General Motors Stuns Markets With $38.9B Loss

• Nov 8, 2007 - GE's $5B Enhanced Cash Fund "Breaks The Buck"

• Nov 27, 2007 - Citi Raises $7.5B From Abu Dhabi Investment Authority

• Nov 28, 2007 - Florida Local Government Investment Pool Freezes After Run

• Dec 8, 2007 - Bank of America Halts StratCash Redemptions

• Dec 10, 2007 - UBS Announces Further $10B In Losses, Raises Capital

• Jan 1, 2008 - By the Numbers

• Jan 11, 2008 - Bank of America Rescues Countrywide Financial

• Jan 22 & Jan 30, 2008 - Fed Slashes Rates Twice In Two Weeks

• Feb 7, 2008 - UBS, Citi, and Merrill Lynch Auction-Rate Securities Freeze

• Mar 6, 2008 - Carlyle Capital + Margin Calls = $16.6B Default

• Mar 6, 2008 - UBS $24B Alt-A Fire Sale to Pimco

• Mar 7 & Mar 11, 2008 - Two Fed Moves Backfire, Triggering Run On Bear Stearns

• Mar 16, 2008 - Bear Stearns Collapses, Acquired by J.P. Morgan

• Mar 16 & Mar 18 2008 - Two More Fed Actions To Prop Up Markets

• Apr 1, 2008 - By the Numbers

• Jun 26, 2008 - Run on IndyMac Bank

• Jul 1, 2008 - By the Numbers

• Jul 11, 2008 - IndyMac Bank Seized by Regulators

• Jul 14, 2008 - U.S. Government Props Up Fannie and Freddie

• Aug 26, 2008 - FDIC Warns of More Bank Failures

• Aug 27, 2008 - Reports Show Plunging U.S. Home Prices (-15%) and New Home Sales (-35%)

• Aug 31, 2008 - Commerzbank Agrees to Buy Dresdner

• Sep 6, 2008 - Fannie Mae and Freddie Mac Placed in Conservatorship

• Sep 14, 2008 - Merrill Lynch Rescued, Acquired by Bank of America

• Sep 15, 2008 - Lehman Brothers Holdings (not Lehman Brothers, Inc.) Bankrupt

• Sep 15, 2008 - Run on Washington Mutual

• Sep 15, 2008 - Reserve Primary Fund Faces Massive Withdrawls, Next Day "Breaks the Buck"

• Sep 16, 2008 - Surprise Overnight $85B First Rescue of AIG. Next Morning Markets Capitulate

• Sep 17, 2008 - UK's HBOS Bailed Out

• Sep 21, 2008 - Morgan Stanley Becomes a Bank Holding Company

• Sep 21, 2008 - Goldman Sachs Becomes a Bank Holding Company

• Sep 29, 2008 - The Commonfund For Educational Institutions Freezes

• Sep 30, 2008 - Belgium's Dexia Bailed Out, Taps $50B From U.S. Fed

• Oct 1, 2008 - By the Numbers

• Oct 12, 2008 - Wachovia Bank Fails, Acquired by Wells Fargo

• Oct 13, 2008 - Royal Bank of Scotland Failure and Bailout

• Dec 24, 2008 - GMAC Becomes a Bank Holding Company

• Jan 1, 2009 - By the Numbers

• Mar 30, 2009 - U.S. Central Credit Union Conservatorship

• July 21,2010 - Dodd–Frank Wall Street Reform and Consumer Protection Act Signed Into Law

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