2008 Financial Crisis

By Fhy40

  • Sub-Prime Mortages

    Banks that invested in Sub-Prime mortages are now left with worthless assets
  • Period: to

    2008 Financial Crisis

  • Countrywide Financial

    Countrywide Financial credit rating is downgraded

  • Bank of America buys Countrywide

    Bank of America buys Coutrywide for $4 Billion

  • Bear Sterns is Sold to JPMorgan

  • Fannie Mae and Freddie Mac are taken over by the government

  • Merril Lynch is bought by Bank of America

  • Lehman Brothers go Bankrupt

  • AIG is bailed out

  • Congress rejects TARP

  • Congress Approves a revised version of TARP

  • Banks are not regulated on how they use TARP

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