Comments (10)

Jan 11, 2009
Jan 11, 2009
consultant09:

http://docs.google.com/TeamPresent?docid=ddp4zq7n_...

The first was about 6 months back when I knew very little of the crisis, or the specifics of it anyway. It's very endearing though that now it makes much more sense and isn't a bad outline of the events that transpired.

Jan 11, 2009

HILARIOUS!!!!!!!!!

Jan 11, 2009

wow.... someone is screwed on superday

Jan 11, 2009
mrsmiley:

Can someone please describe the credit crisis chronologically and how it's affected deal flow? Thanks

In the beginning there was Alan Greenspan...

Just my 2c.

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Jan 11, 2009

Seen it about a year ago, must have been around October of 07. , but it's pretty accurate about the crisis. Funny stuff.

Jan 11, 2009

please give a serious account? Thanks I really appreciate it.

Jan 11, 2009
mrsmiley:

please give a serious account? Thanks I really appreciate it.

Sorry for the long post, I though I'd make it as 'indepth' as possible. You could google the below events for more information, otherwise if I were to post everything it would be longer than a dictionary;

HSBC shock announcement begins the pre-panic phase
2007 02 08 HSBC to Boost Loan-Loss Provisions on Bad Mortgages
2007 02 08 Subprime Mortgage Bond Risks Surge, Index Suggests
2007 02 22 HSBC announces departure of two top executives at U.S. business
2007 03 04 U.S. triggers $11bn HSBC fall-out
2007 03 05 New Century Leads Drop in Shares of Mortgage Lenders
2007 03 12 DR Horton warns of huge losses
2007 03 12 New Century shares are suspended
2007 03 21 `Short Sellers' Who Predicted Subprime Rout See More Declines
2007 04 02 New Century Financial in chapter 11 move
2007 04 05 NovaStar Cuts Off Credit Lines for Mortgage Bankers
2007 05 30 Kensington agrees to PS283m buyout

Prelude to panic starts with Bear Stearns hedge fund losses
2007 06 23 $3.2 Billion Move By Bear Stearns To Rescue Fund
2007 07 30 IKB Cuts Profit Forecast Amid Rout in U.S. Mortgages
2007 07 31 American Home Can't Fund Mortgages, Shares Plummet
2007 08 02 Accredited May Face Bankruptcy, Merger in Doubt
2007 08 06 American Home files for bankruptcy
2007 08 08 Fund of German Bank WestLB Stops Payouts, Citing Mortgage Market Unease

Panic of 2007
2007 08 09 BNP Paribas Freezes Funds as Loan Losses Roil Markets
2007 08 14 Goldman and Investors to Put $3 Billion Into Fund
2007 08 15 Countrywide Financial 'risks bankruptcy'
2007 08 17 Fed Cuts Discount Rate to 5.75% to Ease Credit Crunch
2007 08 21 SachsenLB Has EU3 Billion in Subprime, Person Says
2007 08 22 H&R Block Taps Credit Line, Cites `Unstable' Markets
2007 08 22 Lehman, Accredited, HSBC Shut Offices; Crisis Spreads
2007 08 23 Fed lends $2 billion to banks to ease credit woes
2007 08 29 Basis Yield Files Bankruptcy Over Subprime Defaults
2007 09 06 ECB injects 250 Billion euros into markets
2007 09 14 Northern Rock Gets Emergency Bank of England Funding
2007 09 17 Government guarantees Northern Rock deposits
2007 09 17 NovaStar Can't Pay Dividend, Forfeits REIT Status
2007 09 18 Stocks Surge on Big Fed Rate Cut

Losses show in earnest after Q3
2007 10 05 Merrill in $5.5bn sub-prime loss
2007 10 24 Merrill Lynch Reports Loss on $8.4 Billion Writedown
2007 10 31 Fed Lowers Rate by a Quarter Point to 4.5 Percent
2007 11 08 Morgan Stanley takes $3.7bn hit
2007 11 27 Citigroup to Sell $7.5 Billion Stake to Abu Dhabi
2007 12 06 Black Humor Pervades Norway as Subprime Losses Extend to Arctic
2007 12 10 UBS posts fresh $10bn writedown
2007 12 10 MBIA Gets $1 Billion From Warburg Pincus, Sees Losses
2007 12 10 Bank of America to Liquidate $12 Billion Cash Fund
2007 12 11 U.S. rates reduced for third time
2007 12 12 Florida Fund Reduced By $1.9 Billion After SIV Losses
2007 12 13 World central banks agree to inject at least $100bn into inter-bank markets
2007 12 14 Citigroup Rescues SIVs With $58 Billion Debt Bailout
2007 12 17 $20bn from Fed to ease credit woe
2007 12 18 The ECB lends over $500 billion for Christmas
2007 12 19 Ambac, MBIA Outlook Lowered by S&P, ACA Cut to CCC
2007 12 24 Merrill Lynch to Get $6.2 Billion From Temasek, Davis

Losses after Q4 rising
2008 01 15 Citi Writes Down $18 Billion; Merrill Gets Infusion
2008 01 22 As markets implode, Fed panics and cuts 75bps
2008 01 28 Scandal stings not just bank, but French pride, too
2008 01 30 The Federal Reserve cuts again, 50 basis points
2008 02 14 UBS confirms sub-prime $18.4 billion loss
2008 03 03 HSBC in $17bn credit crisis loss
2008 03 06 Peloton Capital hedge fund collapses
2008 03 07 Ambac Gets $1.5 Billion in Capital to Keep AAA Grade
2008 03 11 Carlyle Fund Tries to Halt Liquidation

Bear Stearns collapses
2008 03 11 Central Banks inject $200 billion of liquidity into markets
2008 03 14 JPMorgan and Fed Move to Bail Out Bear Stearns
2008 03 25 Seeking Fast Deal, JPMorgan Quintuples Bear Stearns Bid
2008 03 31 U.S. Treasury Backs Regulatory Overhaul, Broader Fed Role

Losses still rising in 1st Quarter 2008
2008 04 01 UBS writes down another $19 billion
2008 04 01 Deutsche Bank to write down $4B
2008 04 04 MBIA Loses AAA Insurer Rating From Fitch Over Capital
2008 04 08 Washington Mutual Raising $7 Billion
2008 04 14 Wachovia's Loss a Grim Sign for Banks
2008 04 18 Citigroup Reports Loss on $15 Billion of Credit Costs
2008 04 21 Funds to invest up to $8bn in National City bank
2008 04 22 Merrill Raises $9.55 Billion in Sales of Debt, Preferred Shares
2008 04 22 RBS aims to raise $24B in new capital
2008 04 29 Citigroup Sells $3 Billion of Stock to Boost Capital
2008 04 29 HBOS Plans to Raise 4 Billion Pounds in Share Sale
2008 04 30 Citigroup Increases Stock Offering to $4.5 Billion
2008 05 06 Fannie Mae to raise $6bn new capital
2008 05 07 Town of Vallejo, California goes bankrupt
2008 05 09 Citigroup to wind down $400bn of assets
2008 05 19 Banks Keep $35 Billion Markdown Off Income Statements

Renewed Concerns over losses as Q2 progresses
2008 05 26 UBS Falls After Saying More Mortgage Losses Possible
2008 06 02 Morgan Stanley, Merrill, Lehman Ratings Cut by S&P
2008 06 02 Bradford & Bingley shares plunge as lender warns on profits
2008 06 05 MBIA, Ambac, $1 Trillion of Debt, Lose S&P AAA Rating

Second leg in write-off: more loans, fewer derivative securities
2008 06 09 Lehman Brothers to post $3 bln loss; sets $6 bln stock sale
2008 06 09 Lehman to post $2.8 billion quarterly loss
2008 06 09 Lehman Cuts $130 Billion of Assets to End Bear Stigma
2008 06 12 KeyCorp to raise $1.5 billion, cut dividend 50%
2008 06 18 Fifth Third Falls on Plan to Raise $2 Billion, Cut Dividend
2008 06 25 Countrywide Sued by California Over Mortgage Loans
2008 06 25 Countrywide Financial Faces Illinois Suit Over Mortgage Loans
2008 06 30 Florida Sues Countrywide
2008 07 07 Freddie Mac, Fannie Mae Plunge on Capital Concerns
2008 07 10 U.S. Mulls Future of Fannie, Freddie

Prelude to 2nd panic begins with IndyMac failure
2008 07 11 IndyMac Seized by U.S. Regulators Amid Cash Crunch
2008 07 18 Barclays and HBOS cash calls shunned
2007 07 25 National Australia Bank tumbles on new $830m provision
2008 07 28 Merrill Has $5.7 Billion of Writedowns, Sells Shares
2008 08 08 Auction-Rate Buybacks: The Bottom Line
2008 08 20 Fannie Mae and Freddie Mac shares fall on fears of size of potential losses
2008 08 20 Lehman's secret talks to sell 50% stake stall

Panic of 2008
2008 09 07 Paulson Engineers U.S. Takeover of Fannie, Freddie
2008 09 15 Lehman Files Biggest Bankruptcy After Suitors Balk
2008 09 15 Lehman Bankruptcy Summons Drexel Ghost 18 Years Later
2008 09 15 Bank of America to Acquire Merrill as Crisis Deepens
2008 09 15 Fed Widens Collateral, Banks Set Up $70 Billion Fund
2008 09 16 Fed to lend $85 billion to AIG, take 80 percent stake
2008 09 18 Lloyds TSB seals PS12.2bn HBOS deal
2008 09 25 WaMu Seized by U.S., Assets Sold to JPMorgan in Record Failure

Government intervention to end panic
2008 09 29 B&B nationalisation is confirmed
2008 09 29 Iceland nationalises Glitnir bank
2008 10 03 Dutch part of Fortis is nationalised
2008 10 06 Hypo Real Gets EU50 Billion Government-Led Bailout
2008 10 07 UK makes massive rescue plan for banks
2008 10 08 Fed Will Lend Directly to Corporations
2008 10 12 Australia to guarantee bank deposits for three years: PM
2008 10 13 RBS, HBOS and Lloyds to get $64 billion from U.K.
2008 10 13 Fed Says ECB, Others to Offer Unlimited Dollar Funds
2008 10 13 EU Nations Commit 1.3 Trillion Euros to Bank Bailouts
2008 10 13 Germany Pledges EU500 Billion in Bank Rescue Plan
2008 10 15 European central banks pump $250bn liquidity
2008 10 15 EU backs emergency accounting changes
2008 10 16 ECB Widens Collateral Rules, Slashes Required Ratings
2008 10 16 ECB gives Hungary EU5bn credit line
2008 10 16 Swiss banks raise emergency funds to fight crisis
2008 10 22 Wachovia reports 23.9 billion loss

Q4 after the panic
2008 11 10 Wells Sells $11 Billion in Stock for Wachovia Deal
2008 11 13 Ranieri's Franklin Bank files Chapter 7 bankruptcy
2008 11 19 Citigroup to Buy $17.4 Billion in SIV Assets
2008 11 20 GMAC Latest to Seek Bank Status, Access to Treasury Funds
2008 11 24 Citigroup Gets U.S. Rescue From Losses, Cash Infusion
2008 11 25 Downey Financial files for Chapter 7 bankruptcy
2008 11 26 Iceland's Glitnir seeks protection from U.S. creditors
2008 12 15 AIG sells $39.3 billion in assets to NY Fed's fund
2008 12 18 Citigroup's Debt Lowered Two Grades to A2 by Moody's
2008 12 20 Latvia Secures 7.5 Billion Euros in IMF, EU Loans
2008 12 23 American Express Will Get $3.39 Billion in TARP Funds
2008 12 30 IndyMac Is Set to Be Sold to Private Investors

Just my 2c.

Jan 11, 2009

OMG SO AMAZINGLY FUNNY!!!!!!!

Here is another one for you thats also got humor mixed in:
http://www.youtube.com/watch?v=UC31Oudc5Bg

Jan 11, 2009
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