Financial Crisis timeline
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Black Wednesday
In British politics and economics, Black Wednesday refers to the events of 16 September 1992 when the Conservative government was forced to... Read more
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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... Read more
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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... Read more
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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... Read more
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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. Read more
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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... Read more
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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... Read more
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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... Read more
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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. Read more
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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... Read more
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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... Read more
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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... Read more
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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... Read more