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Cramer Speaks Out
Market Expert Jim Cramer, host of Mad Money, calls out the Federal Reserve on the borrowing rate. Video -
Fed Cuts Interest Rates Half a Percent
The Federal Reserve lowers interest rates by half a point (0.5%) in an attempt to limit damage to the economy from the housing and credit crises -
Dow Reaches All Time High
The Dow Jones Industrial Average, a compostion of 30 stocks, reaches its all time high of 14,164.53. It has yet to recover to that level. Source -
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US Is in Recession
The United States is in a recession due to the credit crisis. -
Bear Stearns is Bought Out
JPMorgan Chase buys investment bank Bear Stearns for $2 a share. The federal government backs the deal providing up to $30 billion to cover Bear's losses. -
Fannie Mae and Freddie Mac Nationalized
The government takes over mortgage giants Fannie Mae and Freddie Mac. Their stock pludges. -
Bank of America Buys Merrill Lynch
In a hasty deal that took place in under 48 hours, Bank of America buys banking giant Merrill Lynch for $50 billion. Source -
Lehman Collapse
Lehman Brothers Files for Bankruptcy -
AIG is Bailed Out
American Insurance Group or AIG is given $85 billion by the federal government to avoid bankruptcy. -
Dow Suffers its Greatest One-Day Drop
The Dow Jones Industrial Average falls 777.68 points after the House of Representatives rejects a bill to authorize $700 billion to spend on banks. -
$700 Billion Bailout Bill Passed
The senate passes HR1424, a bill that authorizes $700 billion dollars to be used to bail out banks, -
Dow Drops Below 10,000
The Dow Jones Industrial Average falls below 10,000 points for the first time since 2004. -
AIG Gets Another Loan From The Government
The Federal Reserve agrees to provide AIG with a loan of up to $37.8 billion, on top of the $85 billion loan it received in September. -
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Worst Week in the Stock Market in 75 Years
The Dow Jones Industrial Average drops 22.1%, down 40.3% since reaching a record high of 14,164.53 on October 9, 2007 -
Dow Falls Below 9,000
Financial fears caused the Dow Industrial Average to drop to below 9,000 for the first time in five years. The Dow dropped almost 700 points to close at 8,579.19. -
AIG Gets Bigger Bailout
The government provides new financial assistance to troubled insurance giant American International Group, including pouring $40 billion into the company in return for partial ownership. -
Dow Drops Below 8,000
Wall Street hit its lowest level since 2003. The Dow Jones industrial average fell below the 8,000 mark. It dropped nearly 430 points to 7,997. The news came as major automakers await a decision from Congress about a bailout for their industry. -
US Enters Recession
The National Bureau of Economic Research announces that the US economy had officially entered a recession in December 2007, a full year earlier. -
Dow Dips Below 7,000
The Dow Jones Industrial Average plunges below 7,000 for first time since October 1997.