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January 7–11 – A tornado outbreak passes through eastern North America, producing at least 75 tornadoes across the mid-eastern United States and record-breaking temperatures in eastern Canada. Four fatalities are reported. January 7 – NBC announces the 2008 Golden Globe Awards Ceremony will be canceled due to the Writers Guild of America ...
January 11, 2008: Bank of America agreed to buy Countrywide Financial for $4 billion in stock. [111] January 18, 2008: Stock markets fell to a yearly low as the credit rating of Ambac, a bond insurance company, was downgraded. Meanwhile, an increase in the amount of withdrawals causes Scottish Equitable to implement up to 12 month delays on ...
During the weekend of September 13–14, 2008, Lehman Brothers declared bankruptcy after failing to find a buyer; Bank of America agreed to purchase investment bank Merrill Lynch; the insurance giant AIG sought a bridge loan from the Federal Reserve; and a consortium of 10 banks created an emergency fund of at least $70 billion to deal with the ...
The number of people using the internet grew during this period going from 226.21 million in 2008 to 305.37 million in 2020. [141] 2008 would mark the first time that the country with the most internet users (the number of people who use the internet) was not the United States as China surpassed the country that year. India would surpass the ...
The law has three major divisions, Division A: the Emergency Economic Stabilization Act of 2008; Division B: Energy Improvement and Extension Act of 2008, and Division C: the Tax Extenders and Alternative Minimum Tax Relief Act of 2008. [11] The tax part of the law has provisions that will have a net expenditure of $100 billion over 10 years.
The bankruptcy of Lehman Brothers, also known as the Crash of '08 and the Lehman Shock on September 15, 2008, was the climax of the subprime mortgage crisis. After the financial services firm was notified of a pending credit downgrade due to its heavy position in subprime mortgages, the Federal Reserve summoned several banks to negotiate ...
In September 2008, after two straight years of not being affected by a serious hurricane, Hurricane Gustav caused $18 billion in damage in Louisiana, and a few weeks later, the Galveston, Texas and Houston, Texas areas were devastated by Hurricane Ike with over $31 billion in damage, making Ike the third most destructive hurricane ever to hit ...
2008 was a leap year starting on Tuesday of the Gregorian calendar, the 2008th year of the Common Era (CE) and Anno Domini (AD) designations, the 8th year of the 3rd millennium and the 21st century, and the 9th year of the 2000s decade.