In this forum we will continue working on constructing a timeline for the financial crisis. Here let’s focus on the time period most relevant to our readings this week: from the summer of 2007 to the Lehman Brothers bankruptcy on Sept. 15, 2008.
INSTRUCTIONS:
- Please post what you think is an important event that should be included in the timeline and
- Explain why you think that event is so important. Offer some specifics. Why does this event or decision belong in the timeline? What does it have to do with the financial crisis? And if there is a good Web resource or a document that could be included in the timeline, please provide a link.
SUGGESTIONS ABOUT WHERE TO START:
What were some key events in the summer of 2007 that indicated that the “house of cards” was beginning to fall?
Bear Stearns: What happened with Bear Stearns? What were the key decisions? When did they occur? When was “Bear Stearns Day”?
The FOMC: What were some key decisions by the FOMC during this period–which policy decisions made history, so to speak?
Fannie Mae and Freddie Mac: in 2007 and 2008, what were some key events and policy decisions related to these?
Here is a good resource to review and begin your search: http://en.wikipedia.org/wiki/Subprime_crisis_impact_timeline (Remember that this is Wikipedia, a public encyclopedia where anyone can post. Please verify sources.)
