2008 Financial Crisis By ChuYang Period: Jan 1, 2008 to Jan 1, 2009 Financial Crisis Mar 1, 2008 Baer Stearns runs out of money Period: Mar 1, 2008 to Mar 2, 2008 Baer Stearns declares bankrupt Jul 15, 2008 (SEC) iorders temporary stopping of short selling in the securities of Fannie Mae, Freddie Mac and investment banks. Sep 15, 2008 Lehman Brothers file for bankruptcy Sep 18, 2008 Ben Bernanke and Hank Paulson asked for $700 Billion to bail out banks Sep 19, 2008 Bank of America acquires Fannie Mae and Freddy Mac Sep 15, 2009 Bank of America buys Merrill Lynch & Co. for $50 billion. Oct 3, 2014 President Bush signed the Troubled Asset Relief Program Dec 1, 2014 GM and Chrysler faced bankruptcy