Financial Crisis Events

1992 Sep 16 Black Wednesday
In British politics and economics, Black Wednesday refers to the events of 16 September 1992 when the Conservative government was forced to withdraw the pound sterling from the European ...
2009 Mar 31 First of the TARP money repaid
Four small banks became the first to return millions of dollars of emergency aid, and more may soon follow as the industry tries to escape what it considers the onerous conditions attache...
2009 Jun 1 General Motors files for bankruptcy
General Motors entered bankruptcy Monday morning, filing for Chapter 11 protection from its creditors. The filing triggered a number of immediate actions that affect the automaker, all of...
2009 Oct 25 Jeffry M. Picower, Accused of Profiting Significantly from Bernie Madoff Fraud, Found Dead
A hysterical Barbara Picower called 911 after seeing her husband, billionaire and close friend of Bernard Madoff, Jeffry Picower, at the bottom of her swimming pool. The Palm Beach Police...
2009 Dec 11 House of Representatives Passes Measure to Tighten Federal Regulation of Wall Street
"As we have seen over the past year, our financial system is broken and we can no longer afford to maintain the status quo." —Representative Ed Perlmutter
2010 May 6 Flash Crash
The May 6, 2010 Flash Crash also referred to as The Crash of 2:45, the 2010 Flash Crash or just simply, the Flash Crash, was a stock market crash on May 6, 2010 involving U.S. corporate ...
2011 Aug 6 Standard & Poor's Downgrades United States Credit Rating
A day after Standard & Poor's took the unprecedented step of downgrading the creditworthiness of the U.S. government to AA+ from AAA, the ratings agency offered a full-throated defense of...
2011 Oct 30 Greek Prime Minister Papandreou Announces Referendum on EU Bailout
The Greek prime minister, George Papandreou, stunned Europe's leaders on Monday after he proposed that his country should hold a referendum on the landmark European debt deal reached last...
2011 Nov 3 Reports Indicate Greek Prime Minister Ready to Drop Referendum on EU Bailout
Officials close to Greek prime minister tell the Associated Press and Reuters that the controversial bailout referendum has been scrapped.
2011 Nov 4 Greek Prime Minister Papandreou Survives Confidence Vote
Prime Minister George Papandreou, fresh from winning a confidence vote, will attempt to shore up support for an international rescue after Greece’s main opposition party rejected his offe...
2011 Nov 10 Jefferson County, Alabama, Files Largest Municipal Bankruptcy in U.S. History
Birmingham, Alabama, the most prominent industrial center in the Southeast before the civil- rights era, has been on a long losing streak that just got longer.
2011 Nov 12 Prime Minister Silvio Berlusconi Relinquishes Power
With his country swept up in Europe’s debt crisis and his once-mighty political capital spent, Prime Minister Silvio Berlusconi resigned on Saturday, punctuating a tumultuous week and end...
2011 Dec 6 President Obama Echoes Teddy Roosevelt's "New Nationalism" in Populist Speech
President Obama called for Americans to get a "fair shot" at advancement to the middle class, deriding the "breathtaking greed of a few" and chastising Republicans who he said enabled them.