The Great Recession and U.S. Financial Crisis Response (2007–2010)

1. Recession begins amid housing and credit stress

   Dec 1, 2007Labels: NBER, Housing market

   • Bloomberg Law
   • CBS News

2. Fed launches the Term Auction Facility

   Dec 12, 2007Labels: Federal Reserve, Term Auction

   • Fed History
   • Fed Release

3. Fed expands crisis lending as pressures grow

   Mar 7, 2008Labels: Federal Reserve, repurchase operations

   • Fed Release

4. Bear Stearns rescued through JPMorgan deal

   Mar 16, 2008Labels: Bear Stearns, JPMorgan Chase

   • Fed Release
   • HISTORY

5. Fed creates Primary Dealer Credit Facility

   Mar 17, 2008Labels: Federal Reserve, Primary Dealer

   • Fed Release

6. Housing and Economic Recovery Act becomes law

   Jul 30, 2008Labels: Housing and, FHFA

   • FHFA Release

7. Fannie Mae and Freddie Mac enter conservatorship

   Sep 6, 2008Labels: Fannie Mae, Freddie Mac

   • FHFA History

8. Lehman Brothers files for bankruptcy

   Sep 15, 2008Labels: Lehman Brothers

   • HISTORY
   • CNBC

9. Federal Reserve provides emergency support to AIG

   Sep 16, 2008Labels: AIG, Federal Reserve

   • CNNMoney

10. TARP authorized by Emergency Economic Stabilization Act

    Oct 3, 2008Labels: TARP, Emergency Economic

    • GPO
    • Fed Report

11. Fed begins paying interest on bank reserves

    Oct 6, 2008Labels: Federal Reserve, Bank reserves

    • Fed Release

12. Treasury injects capital into major banks

    Oct 14, 2008Labels: Treasury, Capital Purchase

    • GAO
    • FRASER

13. FDIC announces Temporary Liquidity Guarantee Program

    Oct 14, 2008Labels: FDIC, Temporary Liquidity

    • FDIC FIL
    • FDIC BRC

14. Fed announces TALF to support consumer credit

    Nov 25, 2008Labels: Federal Reserve, TALF

    • Fed Release
    • Treasury

15. Fed adopts near-zero federal funds target range

    Dec 16, 2008Labels: Federal Open, Federal Reserve

    • Fed Minutes

16. American Recovery and Reinvestment Act signed

    Feb 17, 2009Labels: American Recovery, U S

    • DOE
    • MTC

17. Making Home Affordable guidelines released for HAMP

    Mar 4, 2009Labels: Treasury, HAMP

    • Treasury Release
    • FDIC FIL

18. NBER dates recession end to June 2009

    Jun 1, 2009Labels: NBER, Recession trough

    • Bloomberg Law
    • CBS News

19. Dodd-Frank Act signed, reshaping financial regulation

    Jul 21, 2010Labels: Dodd-Frank Act, Financial regulation

    • Congress CRS

20. TARP’s new commitment authority expires

    Oct 3, 2010Labels: TARP, Treasury

    • Treasury TARP

21. Financial Crisis Inquiry Commission report released

    Jan 27, 2011Labels: Financial Crisis, FCIC

    • FCIC SLS
    • Library Congress