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Souk Al-Manakh stock market crash: Aug 1982 Kuwait: Black Monday: 19 Oct 1987 USA: Infamous stock market crash that represented the greatest one-day percentage decline in U.S. stock market history, culminating in a bear market after a more than 20% plunge in the S&P 500 and Dow Jones Industrial Average. Among the primary causes of the chaos ...
AIG's failure was possible because of the sweeping deregulation of over-the-counter (OTC) derivatives, including credit default swaps, which effectively eliminated federal and state regulation of these products, including capital and margin requirements that would have lessened the likelihood of AIG's failure.
Accounting fraud. An auditor was murdered, an adviser committed suicide. The largest collapse in Hong Kong history. Texaco: United States: 13 April 1987: Oil: After a legal battle with Pennzoil, whereby it was found to owe a debt of $10.5 bn, Texaco went into bankruptcy. It was later resurrected and taken over by Chevron. Qintex: Australia ...
The 1987 stock market crash, or Black Monday, is known for being the largest single-day percentage decline in U.S. stock market history. On Oct. 19, the Dow fell 22.6 percent, a shocking drop of ...
Morgan Stanley revealed it faces possible litigation brought by AIG - what does this mean for the shareholders of these two companies? In this segment of The Motley Fool's financials-focused show ...
AIG Financial Products Corporation (AIGFP) is a subsidiary of the American International Group, headquartered in New York, New York, with major operations in London. The collapse of AIG Financial Products, headquartered in Wilton, Connecticut , is considered to have played a pivotal role in the global financial crisis of 2008–2009 .
Starting with the Great Depression around 100 years ago, there have been 10 stock market crashes where the S&P 500 prices fell by 20% or more. That is around one every 10 years, although not in ...
September 17: The US Federal Reserve lends $85 billion to American International Group (AIG) to avoid bankruptcy. September 18: Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke meet with key legislators to propose a $700 billion emergency bailout through the purchase of toxic assets. Bernanke tells them: "If we don't do this, we ...