ChasC5
11-15-2010, 12:50pm
Just in case anyone gets’s selective memory loss … you may be interested in when the bulk of the bailout came, or not :leaving:
In September 2008, the mounting subprime crisis finally burst into a full-blown financial crisis, leading to the collapse of a number of major financial institutions. In response, the Treasury Department has deployed hundreds of billions in taxpayer dollars.
To shore up the collapsing Fannie Mae and Freddie Mac, the Treasury placed them under conservatorship. Soon after, the Emergency Economic Stabilization Act of 2008 provided the Treasury Department with $700 billion to shore up the broader financial system.
Below is a chronology of major events in the bailouts' lives. It will grow longer as major events continue to occur.
Bailout Timeline: Another Day, Another Bailout | Eye on the Bailout | ProPublica (http://bailout.propublica.org/main/timeline/index)
In September 2008, the mounting subprime crisis finally burst into a full-blown financial crisis, leading to the collapse of a number of major financial institutions. In response, the Treasury Department has deployed hundreds of billions in taxpayer dollars.
To shore up the collapsing Fannie Mae and Freddie Mac, the Treasury placed them under conservatorship. Soon after, the Emergency Economic Stabilization Act of 2008 provided the Treasury Department with $700 billion to shore up the broader financial system.
Below is a chronology of major events in the bailouts' lives. It will grow longer as major events continue to occur.
Bailout Timeline: Another Day, Another Bailout | Eye on the Bailout | ProPublica (http://bailout.propublica.org/main/timeline/index)