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North America, Financial Timeline Saturday, October 11     Author
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Senate backs new bail-out bill  The Senate, 74 to 25, has approved a new version of a $700bn rescue plan for the troubled US financial system   Bush warning over bail-out delay   US President has warned the US economy is at a 'critical moment', and vowed to get his Wall Street rescue plan through Congress $700 billion bailout package failed
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G7 nations pledge to fight crisis  Finance ministers from leading industrialised nations have pledged action to tackle the crisis after a torrid week on stock markets Wall Street flat as Fed unveils new plan  The Federal Reserve announced plans earlier to buy-up short-term debt, a.k.a. commercial paper, directly from companies House backs $700bn bail-out plan

October 2008 ... more > Top ^

Oct. 10   Washington
Oct. 7   New York
Oct. 3   U.S. Congress
  The House of Representatives has passed by 263-171 vote a government plan to rescue the US financial sector
 The package is to buy the bad debts of failing financial institutions on Wall Street. The vote was the second in a week, following its shock rejection of an earlier version. Bush praised lawmakers for their spirit of co-operation before signing the bill into law

Oct. 1   U.S. Congress

September 2008 ... more > Top ^

Sep. 30   Washington
Sep. 29   U.S. Congress
  Democrats and Republicans immediately blamed each other for the failure of the bailout package in the House
 The package failed in the House by a vote of 228-20. It was unclear in what form the congressional leadership would bring the bill back to the floor. House Republican leaders blamed Nancy Pelosi for the bill's failure
  U.S. Congress Wall Street bail-out goes to vote   The House of Representatives is debating ahead of a vote on a $700bn plan to bail out Wall Street Sep. 28   U.S. Congress US lawmakers publish rescue deal  The move, backed by both Republicans and Democratics, allows the Treasury to spend up to $700bn buying bad debts from ailing banks   Washington   Obama and McCain back bail-out package  US presidential hopefuls have broadly welcomed an outline multi-billion dollar plan to help shore up the US financial system   U.S. Congress Buffett: Bail out or face meltdown Sep. 27   U.S. Congress 'Great progress' in US bail-out  Congressional leaders have reached the broad outline of a rescue plan for the US financial system; but details remain to be worked out   U.S. Congress US edges closer to bail-out deal Sep. 26   Washington Bailout talks implode   High-stakes negotiations over the $700 billion bailout of the financial system dissolved into bickering, begging and a battle between parties Sep. 25   Washington Wall St rescue plan 'needs work'   After several hours of talks with President Bush, members of congress said more work was needed Sep. 24   Washington   Bush: Bail-out 'vital to easing crisis'   US President: Americans must support a massive bail-out of financial markets to ease a 'serious financial crisis'   Washington Bernanke demands bail-out action Sep. 23   U.S. Congress Congress cool after bail-out plea  Lawmakers have expressed strong scepticism about a bail-out of the banking system, following a 5-hour Senate hearing on the rescue plan   U.S. Congress Paulson eyes rescue plan backing Sep. 21   New York US banks make shock status switch  Goldman Sachs and Morgan Stanley are to become bank holding companies, allowing them to take deposits from investors   Washington Paulson wants a speedy debt deal Sep. 20   U.S. Congress Crisis talks over 'toxic debt' rescue plan Sep. 19   Washington   Bush hails financial rescue plan
  President George W Bush : The US is set to take 'unprecedented measures' to tackle the crisis gripping US financial markets
Sep. 18   Washington US pledges financial rescue plan   US officials say they will hammer out a 'comprehensive' plan to ease what has become a global financial crisis Sep. 14   New York Lehman Bros files for bankruptcy
  The 4th-largest investment bank in the US will file for bankruptcy protection, amid a growing global financial crisis.    The move threatens to deal a further...
  New York Barclays quits Lehman sale talks  Barclays has pulled out of talks to buy most of troubled investment bank because it was unable to obtain guarantees Sep.7   Washington US takes over key mortgage firms
  US financial officials have outlined plans for the government to take over Freddie Mac and Fannie Mae, the largest bail-outs in US history

August 2008 ... more > Top ^

Aug.5   U.S. Congress Iraq's projected $80b surplus stirs anger  U.S. auditors: Iraq is raking in more money from oil exports than it is spending, amassing a projected 4-year budget surplus of up to $80 billion

July 2008 ... more > Top ^

Jul.16   Washington US inflation rate at 26-year high  The inflation accelerated by 1.1%, at the fastest rate in 26 years in June, fuelled higher by surging energy prices

April 2008 ... more > Top ^

Apr.18   USA Citigroup sees second giant loss

March 2008 ... more > Top ^

Mar.18   Washington Federal Reserve slashes rates by 0.75   The Federal Reserve has cut US interest rates to 2.25% to restore confidence to nervous financial markets and boost the ailing economy Mar.16   New York JPMorgan to acquire Bear Stearns

January 2008 ... more > Top ^


year 2007 Top ^

Dec.18   U.S. Congress Senate passes $70B in war funds Dec.12   Washington Central banks act on credit fears May.18   Florida Shipwreck yields record treasures

year 2005 Top ^

Nov.26   Canada $4.3bn deal to fight native poverty Sep.7   U.S. Congress Bush seeks $50bn hurricane relief

year 2004 Top ^

Dec.23   USA Battered dollar hits another low

year 2003 Top ^

Sep.7   Washington Bush to ask 87 billions more for Iraq Aug.27   Washington Bremer: Iraq effort to cost tens of billions

year 2002 Top ^

Jun.25   New York WorldCom in accounting trouble, cut jobs Jun.15   Texas Andersen guilty in Enron case

year 2001 Top ^

Oct.3   Washington Bush package to boost economy Sep.12   New York Insurers face claims up to $15bn



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