George Walker Bush30 October 2007
Merrill Lynchs Stan ONeal is ousted after the bank reveals an $8.4 billion quarterly loss
United States · Government / Republican Party Government. Chronological records rendered directly from the World History Database.
Merrill Lynchs Stan ONeal is ousted after the bank reveals an $8.4 billion quarterly loss
Freddie Mac announces largest quarterly loss to date as it unveils $4.8 billion bad debts and writedowns
Morgan Stanley falls into the red with $9.4 billion writeoff but receives $5 billion from the China Investment Corporation
Bank of America buys struggling Countrywide for $4 billion
Merrill Lynch sub-prime losses top $23 billion
The Fed releases another $200 billion emergency funding. Former bosses of Citigroup and Merrill Lynch face a congressional committee grilling over pay
Bear Stearns is bailed out with emergency funding from JP Morgan and the NY Fed
Bear Stearns is sold to JP Morgan Chase for just $240 million under Fed pressure in an emergency rescue takeover
Henry Paulson proposes sweeping reforms to banking controls
Henry Paulson proposes sweeping reforms to banking controls
JP Morgan profits dive 50 per cent
US home loan giants Fannie Mae and Freddie Mac lose half their value and appear on the brink of collapse
President Bush agrees to back deal to save Fannie Mae and Freddie Mac
Wall Street shares tumble as the International Monetary Fund warns the US housing crisis is not over
Freddie Mac reports $821 million loss
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