As the Great Recession continues around the world, J. Gordon Brown, Prime Minister of the United Kingdom, unveils a rescue plan for the realm’s commercial banks worth 526,000,000,000 “dollars.”
[added 5/31/2021]
The third AIG bailout: While the United states Armed Forces (private mercenaries) are stationed at 737 bases, in 130 nations around the world, defending “all freedom-loving people everywhere in the world,” the Bernanke Doctrine continues: The Federal Reserve (central) Bank of New York creates a second secured credit facility, In addition to that already created by the privately owned Federal Reserve System of (central) Banks, to provide American International Group with a loan of 37,800,000,000 “dollars,” in addition to the previous 85,000,000,000 “dollars” it has already received. This comes as lawmakers investigating the meltdown of AIG questioned the decision by AIG executives to spend 440,000 “dollars” on a recent company retreat, complete with spa treatments, banquets and golf outings.
[added 5/31/2021] Thanks to Jim Lorenz for this entry.
Subsequent Events:
References:
Global financial crisis in October 2008 – Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Global_financial_crisis_in_October_2008
American International Group – Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/American_International_Group
Late-2000s recession – Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Late-2000s_recession
CBS News Timeline: U.S. Credit Crunch & Financial Failures Follow Subprime Mortgage Crisis
wjz.com/business/credit.crisis.timeline.2.8186/99.html
Timeline of the United states housing bubble – Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Timeline_of_the_United_States_housing_bubble
Subprime crisis impact timeline – Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Subprime_crisis_impact_timeline
A Year in Bank Supervision: 2008 and a Few of Its Lessons
www.fdic.gov/regulations/examinations/supervisory/insights/sisum09/bank_supervision.html