Friday, February 27, 2009

Limited crisis timeline

This looks like it will be interesting:
New York, NY – On Wednesday, March 25, the Museum of American Finance will open “Tracking the Credit Crisis: A Timeline,” to trace the development of the current financial crisis, the most severe and complex economic and financial challenge in modern experience. Presented as a monumental 8’ x 20’ graphical wall accompanied by a video presentation, the timeline begins with the bursting of the U.S. housing bubble in late 2006 through the unprecedented trillions being guaranteed and injected into the private sector in 2008-2009 by the government. President Barack Obama’s stimulus package of almost $800 billion is part of the stabilization effort to forestall a financial collapse, in a global environment in which some $40 trillion in wealth has been lost (on paper) in the last 18 months. The U.S. government’s actions represent a watershed in American economic and political history.
But if you want to understand this crisis, you have to go further back than 2006.

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