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Major banks reveal the country's housing market appears to be weakening. Banks begin sustaining losses as a result of the impending sub-prime mortgage crisis
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Lehman Brothers' files for bankruptcy protection, while Bank of America takes over Merill Lynch amid an imploding financial services market.
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Congress passes $700bn bailout plan for several of the country's largest banks.
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Hoping to quell a deepening recession, the Fed cuts interest rates to .25 percent.
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Major RV producers annouce 600 layoffs from Elkhart, Ind., plants. Elkhart's unemployment rate would grow to 17.7 percent earlier this year -- the higest in the nation.
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Congess passes $787bn stiumulus package, with a focus on funding projects to improve the country's infrastrucutre and public services.
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In Layfayette, Caterpillar annouces it will eliminate 439 job as sales of heavy machinery dwindle.
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Indiana's unemployment rate reaches 10.6 percent -- nearly a point higher than the national average. As the federal stimulus began to take effect, that rate began to ease.
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In Bloomington, longtime GE plant annoucnes it will continue to reduce the size of its Indiana workforce.
