Timeline: The Global Credit Crisis
To help all those still reeling from sudden onset econo-tastrophe syndrome, the BBC has put together a handy timeline, which connects the dots between events over the last couple years but doesn't quite take the long view, thus leaving out a few key moments and players from, say, the 1990s (paging Phil Gramm).
To help all those still reeling from sudden onset econo-tastrophe syndrome, the BBC has put together a handy timeline, which connects the dots between events over the last couple years but doesn’t quite take the long view, thus leaving out a few key moments and players from, say, the 1990s (paging Phil Gramm).
Rock Solid JournalismBBC:
22 January (2008)
The US Fed cuts rates by three quarters of a percentage point to 3.5% — its biggest cut in 25 years — to try and prevent the economy from slumping into recession.
It is the first emergency cut in rates since 2001. Stock markets around the world recover the previous day’s heavy losses.
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Environment
JPMorgan again tops the list of banks embracing “disaster capitalism” as climate deregulation policies inspire more industry investments, new report finds.
Environment
As the country moves to intensify mining and oil operations, environmental and Indigenous leaders’ bank accounts are being frozen or closed.
Economic Justice
Elizabeth Warren (D-Massachusetts) and J.D. Vance (R-Ohio) have joined forces in a rare bipartisan effort to make top executives pay for their mistakes.
Lessons learned from the 2008 financial crisis show that taxpayer-funded blank checks to institutions do nothing to help those struggling
Because our banks aren't nationalized, its inability to work with Congress has resulted in another botched attempt at crisis management.
Its forced choice to bankroll hedge funds and other speculative ventures in repo market comes at a price to the middle class.
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