Insdie the Meltdown

By jdlevy95

  • The Beginning of the End

    By summer '07 the housing market is in trouble. Prices falling, inventories and foreclosures rising.

  • Bear's in Trouble

    Rumors that Bear Stearns is in trouble starts circulating.

  • Bear's CEO Goes on CNBC

    Bear's CEO, goes on CNBC and is confronted with the question of whether or not Bear's most important clinet, Goldman Sachs, is beginning to desert the firm.

  • The Race to find a Buyer

    Prohivited fomr directly lending to Bear, the Federal Reserve works out a plan to loan money to JP Morgan who in turn will loan the money to Bear

  • "Financial Institutions must be alowed to fail"

    Treasury Secretary Henry Paulson sends a message that "Financial Institutions must be alowed to fail". Bear stocks sell for $2 a share.

  • Paulson Seeks Power for Potential Fannie and Freddie Takeover

    Fannie and Freddie are hammered by losses related to the housing crisis. In mid-July their stocks fall more than 60%

  • Feds Takes Control of Fannie and Freddie

    The Federal Reserve takes control of Fannie and Freddie

  • An Extraordinary Weekend

    Paulson makes clear that there will be no bailout for Lehman.

  • Lehman's Stock Plunges 45%

    Lehman had made billions in the now-toxic, high-risk real estate market and couldn't secure extra financing from other banks. They had no success.

  • Global Panic

    The Stock Market nosedives and global credit markets freeze.

  • We may not have an Economy on Monday"

    Paulson and Bernanke go to Congress to presetn a rescue plan to congressional leadership.