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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 country had a positive growth of 1.5% in 2008 compared to a 3.3% in 2007, by 2009 the economy had shrunk by 6.5%, a percentage bigger than that of the 1994-1995 crisis [18] and the largest in almost eight decades and registering an inflation of 3.57% [19]
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.
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 ...
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By January 2008, the delinquency rate had risen to 21% [117] and by May 2008 it was 25%. [ 118 ] According to RealtyTrac , the value of all outstanding residential mortgages, owed by U.S. households to purchase residences housing at most four families, was US$9.9 trillion as of year-end 2006, and US$10.6 trillion as of midyear 2008. [ 119 ]