Financial Crisis of 2008

Main

IndyMac Bank Closed

07/11/2008

The Office of Thrift Supervision closes IndyMac Bank, F.S.B. The Federal Deposit Insurance Corporation (FDIC) announces the transfer of the insured deposits and most assets of IndyMac Bank, F.S.B. to IndyMac Federal Bank, FSB.

Lehman filed for bankruptcy

09/14/2008

Bank of America buys Merrill Lynch & Co. for $50 billion

09/15/2008

$85billion bailout of AIG

09/16/2008

The Federal Reserve Board Press Release

09/21/2008

The Federal Reserve Board approves applications of investment banking companies Goldman Sachs and Morgan Stanley to become bank holding companies.

Washington Mutual Closed

09/25/2008

The Office of Thrift Supervision closes Washington Mutual Bank. JPMorgan Chase acquires the banking operations of Washington Mutual in a transaction facilitated by the FDIC.

Treasury Department Press Release (Chrysler and General Motors)

12/16/2008

The U.S. Treasury Department authorizes loans of up to $13.4 billion for General Motors and $4.0 billion for Chrysler from the TARP.