Finance

By CamCobalt

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    Colonial and Early American Era (1600s-1700s)

    Barter and commodity-based economies in the early American colonies, evolving into more structured financial systems.

  • Tulip Mania (Bubble) - Netherlands (1636-1637)

    The first market bubble in tulips Indexe’s in the Netherlands. One of the earliest recorded market bubbles, involving the speculation of tulip bulbs in the Dutch Golden Age.

  • South Sea Bubble (England, 1711-1720)

    Speculative trading in shares of the South Sea Company, leading to a market bubble and subsequent crash.

  • Revolutionary War

    Fought between US and Britain for Independence. Ended 1783

  • America is Founded

  • Bank of North America Created

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    Free Banking Era

  • Coinage Act

    The Coinage Act establishes the U.S. Mint and regulates coinage to shape the nation's monetary system, ensuring the reliability and standardization of currency.

  • Property Taxes Introduced

    Due to conflicts with France

  • Bank of United States Founded

  • Panic of 1792

    This panic was triggered by speculation and the bursting of a land speculation bubble in the United States

  • War of 1812

    Fought between US & Britain, “Second Independence War” due to Britain basically taxing and placing limitations on US merchant ships. Fought while Britain was warring with France.
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    Era of Good Feelings (1817-1825)

    A period of relative political and economic stability in the United States after the War of 1812.

  • Cotton Panic

  • Panic of 1837

    Caused by a series of bank failures and a subsequent credit contraction, exacerbated by the Specie Circular.

  • Real Estate Panic

  • Railway Mania (UK, 1840s)

    A speculative bubble in railway shares during the rapid expansion of the railway network.

  • Panic of 1857

    A financial downturn caused by the collapse of the Ohio Life Insurance and Trust Company.

  • Civil War

  • Revenue Act

    To pay for the Civil War

  • National Banking Act

    National Banking Acts create a system of national banks and a uniform national currency, providing a foundation for modern banking regulation and stability in a post-Civil War economy.

  • National Banking Act (OCC)

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    Gilded Age (1870s-1900s)

    A time of rapid industrialization, economic growth, and significant wealth inequality in the United States.

  • Panic of 1873

    Triggered by the failure of the banking firm Jay Cooke & Company and subsequent economic downturn.

  • Sherman AntiTrust Act

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    Progressive Era (1890s-1920s)

    Marked by social and political reforms aimed at addressing the social and economic issues caused by industrialization.

  • Panic of 1892

    A financial crisis that marked the end of the economic expansion following the War of 1812.

  • Run on Gold - Panic of 1893

    A severe economic depression triggered by a series of bank failures and the collapse of several railroad companies.

  • Panic of 1907

    Also known as the Bankers' Panic, it was a financial crisis that led to the creation of the Federal Reserve in 1913.

  • Bank Panic

  • Federal Reserve Act

    Federal Reserve Act establishes the Federal Reserve System to provide the United States with a stable monetary and financial system, granting the central bank the authority to manage monetary policy.

  • Federal Reserve Act

    Paved the way to income tax, 16th Amendment of constitution

  • Roaring Twenties Stock Market Bubble (United States, 1920s)

    Characterized by excessive speculation and a significant run-up in stock prices, leading to the 1929 stock market crash and the Great Depression.
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    Roaring Twenties (1920s)

    A period of economic prosperity, increased consumer spending, and stock market speculation.

  • Black Thursday - Wall Street Crash of 1929 (Great Crash)

    The most infamous stock market crash, leading to the Great Depression.
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    Great Depression (1929-1930s)

    The most severe economic downturn in modern history, marked by widespread unemployment and financial hardship.

  • Banking Act of 1933 - Glass Steagall (FDIC)

    Banking Act of 1933 (Glass-Steagall Act) separates commercial, investment, and insurance activities to prevent conflicts of interest and excessive risk-taking, aiming to maintain financial stability.
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    President Roosevelt

    Increased Taxes to Boost Economy

  • Banking Act of 1935

    Banking Act of 1935 strengthens the Federal Reserve's control over banking operations, empowering the central bank to effectively respond to economic challenges.

  • New Deal - Franklin D Roosevelt (1933-1945)

    Implemented a series of programs and policies aimed at addressing the economic challenges of the Great Depression, including establishment of the Social Security system and the Tennessee Valley Authority. a collection of legislation and initiatives enacted over several years during Roosevelt's first term in office. addressing various aspects of the economic crisis, including banking reform, job creation, and social welfare. Emergency Banking Act, which aimed to stabilize the banking system.

  • Panic of 1937

    A sharp economic downturn within the Great Depression era.

  • Riegle-Neal Interstate Banking and Branching Efficiency Act

    Riegle-Neal Interstate Banking and Branching Efficiency Act allows interstate banking, facilitating the expansion of banks across state lines and promoting a more integrated financial system.
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    Bretton Woods System (1944-1971)

    A fixed exchange rate system that aimed to promote international economic stability and prevent competitive devaluations.

  • Revenue Act

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    Post-World War II Era (1945-1960s)

    A period of economic recovery and growth following World War II, with the establishment of Bretton Woods institutions.

  • Bank Holding Company Act

    Bank Holding Company Act regulates and controls bank holding companies, restricting their activities and acquisitions to prevent monopolistic practices.

  • Bank Holding Company Act

  • Truth in Lending Act

  • Truth in Savings Act

    Truth in Savings Act requires disclosure of deposit account terms, enhancing transparency for consumers and promoting fair banking practices.

  • Bank Secrecy Act

    Bank Secrecy Act requires financial institutions to keep records and report certain transactions to prevent money laundering, strengthening efforts to combat financial crimes.

  • Employee Retirement Income Security Act (ERISA)

    Employee Retirement Income Security Act (ERISA) establishes pension plan standards, protecting employee benefits and ensuring the financial security of retirees.

  • Community Reinvestment Act (CRA)

    Community Reinvestment Act (CRA) encourages banks to meet community credit needs, addressing discriminatory lending practices and promoting economic development in underserved areas.

  • Deregulation

    Deregulation, including Depository Institutions Deregulation and Monetary Control Act, aims to enhance competition among financial institutions, fostering innovation and efficiency.

  • Depository Institutions Deregulation & Monetary Control Act

  • Reaganomics (1981-1989)

    Focused on supply-side economics, including tax cuts, deregulation, and increased defense spending.
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    Great Recession

  • Garn-St. Germain Depository Institutions Act

    Garn-St. Germain Depository Institutions Act relaxes savings and loan restrictions, allowing diversification of investments to address challenges in the savings and loan industry.

  • Japanese Asset Price Bubble (Japan, 1986-1991)

    Involving real estate and stock prices, this bubble eventually burst, contributing to the Japanese Lost Decade.

  • Black Monday (1987)

    The largest single-day percentage loss in stock market history, triggering a global stock market decline.

  • Black Monday

  • Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA)

    Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) addresses the savings and loan crisis, introducing regulatory reforms and establishing the Resolution Trust Corporation (RTC) to manage troubled assets.

  • National Securities Markets Improvement Act (NSMIA)

    National Securities Markets Improvement Act (NSMIA) streamlines securities regulation to encourage efficiency in the capital markets, fostering capital formation and investor protection.

  • Balanced Budget Act (1997) - Bill Clinton

    Contributed to achieving a federal budget surplus by the end of Clinton's presidency.
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    Post-Bretton Woods Era

    A period of floating exchange rates, financial globalization, and increased financial market volatility.

  • Gramm-Leach-Bliley Act repeals parts of Glass-Steagall

    Gramm-Leach-Bliley Act repeals parts of Glass-Steagall, allowing the consolidation of commercial banks, investment banks, and insurance companies, reshaping the financial services landscape.

  • Commodity Futures Modernization Act

    Commodity Futures Modernization Act clarifies derivatives regulation, providing legal certainty for over-the-counter derivatives, encouraging innovation, and risk management.

  • USA PATRIOT Act

    USA PATRIOT Act expands to address money laundering, requiring financial institutions to establish anti-money laundering (AML) programs, enhancing national security efforts.

  • Dot.Com Bubble

  • Housing Bubble (United States, mid-2000s)

    The housing market experienced a bubble with inflated home prices and risky mortgage practices, culminating in the 2008 Global Financial Crisis.

  • Global Financial Crisis (2008)

    Sparked by the collapse of Lehman Brothers, leading to a severe worldwide economic downturn.

  • Economic Stimulus Act (2008) - George W Bush

    Responded to the financial crisis by providing tax rebates to stimulate the economy.

  • American Recovery and Reinvestment Act (2009) - Obama

    Enacted to address the impact of the Great Recession, focusing on infrastructure spending and tax incentives.

  • Dodd-Frank Wall Street Reform and Consumer Protection Act

    Dodd-Frank Wall Street Reform and Consumer Protection Act introduces financial reforms, addressing issues exposed by the financial crisis. It includes provisions related to the Volcker Rule, systemic risk oversight, and consumer financial protection, aiming to strengthen financial stability and protect consumers.

  • Flash Crash

    A sudden and severe drop in stock prices, attributed to high-frequency trading algorithms.

  • Dodd-Frank Consumer Protection Act

  • JOBS Act

    JOBS Act eases securities regulations for small business capital formation, promoting access to capital for emerging companies and stimulating economic growth.

  • Vlocker Rule

    Volcker Rule goes into effect, restricting certain bank investments to reduce excessive risk-taking and enhance financial stability.

  • Financial Stability Oversight Council (FSOC)

    Financial Stability Oversight Council (FSOC) designates the first nonbank for enhanced supervision, addressing systemic risks beyond traditional banking and promoting overall financial stability.

  • Fixing America's Surface Transportation (FAST) Act

    Fixing America's Surface Transportation (FAST) Act includes provisions related to crowdfunding and securities regulations, promoting efficient capital formation to support infrastructure projects.

  • Department of Labor issues the Fiduciary Rule

    Department of Labor issues the Fiduciary Rule, aiming to protect retirement investors (vacated in 2018), enhancing transparency and accountability in financial advice.

  • Cryptocurrency Bubble (2017-2018)

    Rapid price increases in various cryptocurrencies, particularly Bitcoin, followed by a significant market correction.

  • Tax Cuts & Jobs Act (TCJA) - Trump

    A significant tax reform package, including corporate and individual tax cuts.

  • Economic Growth, Regulatory Relief, and Consumer Protection Act

    Economic Growth, Regulatory Relief, and Consumer Protection Act eases regulations for smaller banks, reducing compliance burdens and supporting community banks.

  • SEC adopts Regulation Best Interest (Reg BI)

    SEC adopts Regulation Best Interest (Reg BI), establishing a standard of conduct for broker-dealers when making recommendations to retail customers, enhancing investor protection.

  • CARES Act

    CARES Act provides economic relief during the COVID-19 pandemic, offering financial support to individuals, businesses, and healthcare providers; SEC amends accredited investor definition, expanding access to private capital markets and promoting investment opportunities.

  • COVID-19 Pandemic Crash

    The global economic shock caused by the COVID-19 pandemic led to a swift and severe market downturn in early 2020.

  • Anti-Money Laundering Act

    Anti-Money Laundering Act enhances AML regulations and establishes beneficial ownership reporting requirements, addressing financial crime and improving transparency in financial transactions.

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