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September 23, 2008: Berkshire Hathaway made a $5 billion investment in Goldman Sachs. [ 141 ] September 26, 2008: Washington Mutual went bankrupt and was seized by the Federal Deposit Insurance Corporation after a bank run in which panicked depositors withdrew $16.7 billion in 10 days.
Margin Call is a 2011 American drama film written and directed by J. C. Chandor in his feature directorial debut. The principal story takes place over a 24-hour period at a large Wall Street investment bank during the initial stages of the 2007–2008 financial crisis.
Full-time employment did not regain its pre-crisis level until August 2015. [51] The unemployment rate ("U-3") rose from the pre-recession level of 4.7% in November 2008 to a peak of 10.0% in October 2009, before steadily falling back to the pre-recession level by May 2016.
For the second quarter of 2023, the average sale price in the U.S. hit nearly $500,000, according to the Census Bureau, nearly double the price of homes at the time that the housing bubble burst ...
The results are likely to intensify the scrutiny of CEO David Solomon, who is wrestling with everything from partner unrest to concerns about strategy.
October: SEC effectively suspends net capital rule for five firms—Goldman Sachs, Merrill Lynch, Lehman Brothers, Bear Stearns and Morgan Stanley. Freed from government imposed limits on the debt they can assume, they levered up 20, 30 and even 40 to 1, buying massive amounts of mortgage-backed securities and other risky investments.
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The Great Recession was a period of market decline in economies around the world that occurred from late 2007 to mid-2009. [1] The scale and timing of the recession varied from country to country (see map).