Events of 2009
January 2009: U.S. President Barack Obama proposes federal spending bill approaching $1 trillion in value in an attempt to remedy financial crisis
January 2009: Lawmakers propose massive bailout of failing U.S. banks
January 2009: the U.S. House of Representatives passes the aforementioned spending bill.
January 2009: Government of Iceland collapses.
February 2009: Canada's Parliament passes an early budget with a $40 billion stimulus package.
February 2009: JPMorgan Chase and Citigroup formally announce a temporary moratorium on residential foreclosures. The moratoriums will remain in effect until March 6 for JPMorgan and March 12 for Citigroup.
February, 2009: U.S. President Barack Obama signs the $787 billion American Recovery and Reinvestment Act of 2009 into law.
February 2009: The Australian Government seeks to enact another "economic stimulus package".
February 2009: 2009 Eastern European financial crisis arises.
February 2009: The Bank of Antigua is taken over by the Eastern Caribbean Central Bank after Sir Allen Stanford is accused by US financial authorities of involvement in an $8bn (£5.6bn) investment fraud. Peru, Venezuela, and Ecuador, had earlier suspended operations at banks owned by the group.
February, 23rd 2009: The Dow Jones Industrial Average and the S&P 500 indexes stumbled to lows not seen since 1997.
February 27 2009: The S&P index closes at a level not seen since December 1996, and also closes the two month period beginning January 1 with the worst two month opening to a year in its history with a loss in value of 18.62%
March 2 2009: The S&P index finishes the first trading day of March with a drop of 4.7%, the worst opening to a March in NYSE history.
March 6 2009: the UK Government takes a controlling interest in Lloyds Banking Group by insuring their debt.
Wednesday, March 11, 2009
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