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).
TRUTHDIG’S JOURNALISM REMAINS CLEARBBC:
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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