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Global Financial Crisis In 2009
On the evening of January 18, the Danish Parliament agreed to a financial package worth 100 billion Danish kroner (17.6 billion USD). In response, markets panicked yet again. On January 22, the editorial board of ''The Christian Science Monitor ''The Christian Science Monitor'' (''CSM''), commonly known as ''The Monitor'', is a nonprofit news organization that publishes daily articles in electronic format as well as a weekly print edition. It was founded in 1908 as a daily newspaper ...'' wrote that the four largest U.S. banks "have lost half of their value since January 2." The two-month period from January 1-February 27 represented the worst start to a year in the history of the S&P 500 with a drop in value of 18.62%. By March 2, the Dow Jones Industrial Average Index had dropped more than 50% from its October 2007 peak. The decline has been compared to that of the 1929 Great Depression, which was 53% between September 1929 and March 1931. On March 6, the Bank of England ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Crisis Of 2007–08
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability asse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stephen Schwarzman
Stephen Allen Schwarzman (born February 14, 1947) is an American billionaire businessman. He is the chairman and CEO of The Blackstone Group, a global private equity firm he established in 1985 with Peter G. Peterson, former chairman and CEO of Lehman Brothers and US Secretary of Commerce under President Richard Nixon. Schwarzman was briefly chairman of President Donald Trump's Strategic and Policy Forum. Early life and education Schwarzman was raised in a Jewish family in Huntingdon Valley, Pennsylvania, the son of Arline and Joseph Schwarzman. His father owned Schwarzman's, a former dry-goods store in Philadelphia, and was a graduate of the Wharton School. Schwarzman's first business was a lawn-mowing operation when he was 14 years old, employing his younger twin brothers, Mark and Warren, to mow while Stephen brought in clients. Schwarzman attended the Abington School District in suburban Philadelphia and graduated from Abington Senior High School in 1965. He attended Yale ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Timeline Of The United States Housing Bubble
Housing prices peaked in early 2005, began declining in 2006 (see also United States housing market correction). 1930s *1933-1939 The New Deal is a group of new laws created to fix problems in the Great Depression economy, including methods to increase home ownership for Americans . *1934 The National Housing Act of 1934, part of the New Deal, makes more affordable housing and home mortgages. It creates the Federal Housing Administration (FHA) (later United States Department of Housing and Urban Development, HUD) and the Federal Savings and Loan Insurance Corporation. *1938 Fannie Mae is founded by the government under the New Deal. It is a stockholder-owned corporation that purchases and securitizes mortgages in order to ensure that funds are consistently available to the institutions that lend money to home buyers. 1968–1991 *1968: As part of the Housing and Urban Development Act of 1968, the Government mortgage-related agency, Federal National Mortgage Association (Fannie M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Global Financial Crisis In December 2008
Reports of economic activity On December 1, the National Bureau of Economic Research officially declared that the U.S. economy had entered recession in December 2007, a full year earlier. (See late 2000s recession) The Labor Department said that the US lost 533,000 jobs in November 2008, the biggest monthly loss since 1974. This raised the unemployment rate from 6.5% to 6.7%. On December 9, the Bank of Canada lowered its key interest rate by 0.75% to 1.5%, the lowest it had been since 1958; at the same time the Bank officially announced that Canada's economy was in recession. This move came after the news that Canada lost 70,600 jobs in the month of November, the most since 1982. The official Bank of Canada press release stated that " heoutlook for the world economy has deteriorated significantly and the global recession will be broader and deeper than previously anticipated." On December 11, the FBI announced the arrest of Bernard Madoff in a Ponzi scheme which totaled $50 bil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Global Financial Crisis In November 2008
Week of November 2 Reports of economic activity October sales of cars and light trucks in the United States fell precipitously in 2008 when compared with sales in October 2007, with General Motors falling 45%, Ford falling 30%, Chrysler falling 35%, Toyota falling 23%, Honda falling 25%, and Nissan falling 33%. Much of the falloff in sales was attributable to customers being unable to arrange financing. Except for Wal-Mart, which posted a slight gain, retail sales were off during October 2008 as compared with October 2007 in the United States with some moderate priced stores reporting double digit decreases. October retail sales were down 4.1% from October 2007 and down 2.8% from September 2008 with sales of cars and auto parts leading the way with a 23.4% decline from October 2007, and a 31.9% decline from September 2008. Employment reports released by the Labor Department on Friday, November 7, showed that about 500,000 jobs were lost in the United States during September and Oc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Global Financial Crisis In October 2008
Beginning of October The policy response to the subprime crisis started in earnest after Lehman's failure in mid September 2008, accelerated after February 2009, and had become very large by September 2009. Governments have relied on a portfolio of intervention tools, but the biggest commitments and outlays have been in the form of debt and asset guarantees, while purchases of bad assets have been very limited. Announcements directed at the banking system as a whole (general) and at specific banks (specific) were priced by the markets. General announcements tend to be associated with positive returns and specific announcements with negative ones. Moreover, general announcements exert cross-country spillovers but are perceived by the home-country banks as subsidies boosting the competitive advantage of foreign banks. Specific announcements exert spillovers on other banks. The United States Senate's version of the $700 billion bailout plan, HR1424, modified to expand bank deposit gua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Global Financial Crisis In September 2008
:''This article only provides a detailed description of the financial market events of September 2008. For the background information, causes, effects and policy responses see Financial crisis of 2007–08. For a timeline see Subprime crisis impact timeline.'' Prelude The subprime mortgage crisis reached a critical stage during the first week of September 2008, characterized by severely contracted Market liquidity, liquidity in the global credit markets and insolvency threats to investment banks and other institutions. US government takeover of home mortgage lenders The United States director of the Federal Housing Finance Agency (FHFA), James B. Lockhart III, on September 7, 2008, announced his decision to place two United States Government-owned corporation, government-sponsored enterprises (GSEs), Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation), into conservatorship run by FHFA. United States Treasury Secretary Henry P ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group. It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. After a slow start, its first loan was to France in 1947. In the 1970s, it focused on loans to developing world countries, shifting away from that mission in the 1980s. For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its loan strategy is influenced by the Sustainable Development Goals as well as environmental and social safeguards. , the World Bank is run by a president and 25 executive directors, as well as 29 various vice ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bear Market Rally
A market trend is a perceived tendency of financial markets to move in a particular direction over time. Analysts classify these trends as ''secular'' for long time-frames, ''primary'' for medium time-frames, and ''secondary'' for short time-frames. Traders attempt to identify market trends using technical analysis, a framework which characterizes market trends as predictable price tendencies within the market when price reaches support and resistance levels, varying over time. A market trend can only be determined in hindsight, since at any time prices in the future are not known. Market terminology The terms "bull market" and "bear market" describe upward and downward market trends, respectively, and can be used to describe either the market as a whole or specific sectors and securities. The terms come from London's Exchange Alley in the early 18th century, where traders who engaged in naked short selling were called "bear-skin jobbers" because they sold a bear's skin (the s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagion began around September and led to the Wall Street stock market crash of October 24 (Black Thursday). It was the longest, deepest, and most widespread depression of the 20th century. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. Some economies started to recover by the mid-1930s. However, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II. Devastating effects were seen in both rich and poor countries with falling personal income, prices, tax revenues, and profits. International trade fell by more than 50%, unemployment in the U.S. rose to 23% and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Post
The ''Financial Post'' was an English Canadian business newspaper, which published from 1907 to 1998. In 1998, the publication was folded into the new ''National Post'',"Black says Post to merge with new paper". ''The Globe and Mail'', July 23, 1998. although the name ''Financial Post'' has been retained as the banner for that paper's business section and also lives on in the ''Post''s monthly business magazine, ''Financial Post Business''. The ''Financial Post'' started publication in 1907 by John Bayne Maclean."Publishing Inc. on the move". ''The Globe and Mail, April 9, 1983. It was a weekly publication, and one of the core assets of Maclean's media business, which eventually became Maclean-Hunter. The paper was purchased by Sun Media in 1987, and expanded into a daily tabloid on February 1, 1988, and added home delivery newspaper in 1990, with a reformatted ''Financial Post Magazine'' following shortly after. In 1998, Sun Media sold the ''Financial Post'' to Hollinger, whos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subprime Crisis Impact Timeline
The subprime mortgage crisis impact timeline lists dates relevant to the creation of a United States housing bubble and the 2005 housing bubble burst (or market correction) and the subprime mortgage crisis which developed during 2007 and 2008. It includes United States enactment of government laws and regulations, as well as public and private actions which affected the housing industry and related banking and investment activity. It also notes details of important incidents in the United States, such as bankruptcies and takeovers, and information and statistics about relevant trends. For more information on reverberations of this crisis throughout the global financial system see Financial crisis of 2007–2008. 1938–1979 *1938: The Federal National Mortgage Association, or Fannie Mae, is established as part of Franklin D. Roosevelt's New Deal, to purchase mortgages guaranteed by the Veterans Administration and the Federal Housing Administration. This took the loans off the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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