The subprime mortgage impact of the timeline crisis lists dates relevant to the creation of the United States housing bubble and the 2005 housing bubble blast (or market correction) and the subprime mortgage crisis developed during 2007 and 2008. These include Legislation and US government regulations, as well as public and private actions affecting the housing industry and related banking and investment activities. It also records details of important incidents in the United States, such as bankruptcies and takeovers, as well as information and statistics on relevant trends. For more information on the echoes of this crisis throughout the global financial system, see the Financial Crisis 2007-2008.
Home sales continue to fall. The slump in existing home sales is the steepest since 1989. In Q1/2007, the S & amp; P/Case-Shiller recorded the first year-to-year decline in national house prices since 1991. The subprime mortgage industry collapsed, and a surge in foreclosure activity (two times worse than 2006) and rising interest rates threatened to push prices further because of problems in the subprime market spread to the near mortgage market and prime mortgage.
The monoline insurance company (AMBAC, MBIA, ACA, & amp; c) has written a large number of insurance against CDO sidewalk failures. The tranche is now beginning to fail by hundreds. Credit rating agencies lower monolines from AAA, but monolines have a unique business model. If they do not have AAA ratings, then their main line of business (municipal bond insurance for municipal infrastructure projects) becomes impossible for them to do. In 2009, the monolina has fallen all.
January 2008 to August 2008
January
The US Financial Crisis Investigation Commission reported its findings in January 2011. It concludes that "the crisis can be avoided and caused by: Widespread failure in financial regulation, including the failure of the Federal Reserve to stem a wave of toxic mortgages: who are acting recklessly and taking too much risk: The explosive mix of excessive loans and risks by households and Wall Street puts the financial system in a collision with the crisis: The major policymakers are not ready for the crisis, lacking a full understanding of the financial system they observe and systemic violations in accountability and ethics at all levels. "
April
The US Senate Standing Committee on Investigation released the Levin-Coburn report, "Wall Street and Financial Crisis: Anatomy of Financial Collapse". This presents new details about Goldman Sachs' activities, Deutsche Bank, Moody, and other companies before the financial crisis.
Former NY Governor Eliot Spitzer said that if the Attorney General can not file a case against Goldman Sachs, after the disclosure of Levin-Coburn's report, then he should resign.
Video Subprime crisis impact timeline
See also
- Credit rating agency and subprime crisis
- The global financial crisis of September 2008
- The global financial crisis of October 2008
- The global financial crisis of November 2008
- The global financial crisis of December 2008
- The global financial crisis in 2009
- The timeline of the United States housing bubble for the pre-subprime crisis timeline
Maps Subprime crisis impact timeline
References
Further reading
External links
- Credit credit timeline
- Detailed Financial Crisis Schedule
- Chronology of the Financial Crisis at St. Louis Fed
Source of the article : Wikipedia
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