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In Q1/2007, S&P/Case-Shiller house price index records first year-over-year decline in nationwide house prices since 1991. [126] The subprime mortgage industry collapses, and a surge of foreclosure activity (twice as bad as 2006) [ 127 ] and rising interest rates threaten to depress prices further as problems in the subprime markets spread to ...
The TED spread, an indicator of perceived credit risk in the general economy, increased significantly during the financial crisis. It spiked up in July 2007, remained volatile for a year, then spiked even higher in September 2008, reaching a record 4.65% on October 10, 2008.
Congress has raised the debt ceiling 14 times from 2001 to 2016. The debt ceiling was raised a total of 7 times (total increase of $5365bil) during Pres. Bush's eight-year term and it was raised 11 times (as of 03/2015 a total increase of $6498bil) during Pres. Obama's eight years in office.
Timeline: 2015: Levee Breaks is established and starts selling promissory notes for $10,000 each. The notes promised to return 10%, paid in monthly installments, with a one-year term.
The budget airline filed for Chapter 11 bankruptcy protection in November, facing over $1 billion in looming debt payments and accumulating more than $2.5 billion in losses since 2020. Spirit ...
The history of bankruptcy law in the United States refers primarily to a series of acts of Congress regarding the nature of bankruptcy.As the legal regime for bankruptcy in the United States developed, it moved from a system which viewed bankruptcy as a quasi-criminal act, to one focused on solving and repaying debts for people and businesses suffering heavy losses.
Originally, bankruptcy in the United States, as nearly all matters directly concerning individual citizens, was a subject of state law. However, there were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...
It used to be that when people got into more financial trouble than they could manage on their own, they would declare personal bankruptcy. Then, in 2005, U.S. bankruptcy laws became more ...
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