The Best Timeline Ever

By poopybutts

  • Housing Downturn

    Housing crisis deepens. Banks and hedge funds that invested big in subprime mortgages are left with worthless assets as foreclosures rise.

  • Recession

    The U.S. economy is in recession. The crisis in subprime mortgages infects the credit markets.

  • Buy-outs

    Mortgage giants Fannie Mae and Freddie Mac are taken over by the government.

  • Buy-outs Con't

    -Bank of America agrees to purchase Merrill Lynch for $50 billion
    -Lehman Brothers files for bankruptcy-court protection.