Credit Crisis Timeline

There have been tremendous economic dislocations during the present banking crisis. Initially written off as a sub-prime crisis, leading policy makers said the crisis was contained. It has since spilled over into Jumbo mortgage rates, Collateralized Debt Obligations (CDOs), all asset backed securities, High Yield bonds, SIVs, the inter-bank market, commercial paper, money market funds, the auction rate market, hedge fund losses, and a massive housing bust and the real economy. Banks and financial institutions from around the world are writing down billions of dollars of losses. Housing markets are falling in the US, the UK, Spain and Ireland. This crisis is truly global.

I decided to take a look to get a comprehensive view of what this is doing to our financial system. Below is my list of major announcements of asset writedowns, bank failures, CEO dismissals, trading losses, capital raising and job losses at major global lending institutions as a direct result of the credit crisis of 2007-2009.

In addition, I have included a number of pre-crisis merger announcements that served as prelude to an increased risk taking after the deals closed and leading up to the crisis. This is not just a chronological listing of events and news in the housing bubble and credit crisis but also

* a timeline of major crisis events and writedowns by financial institution. I believe it to be the most comprehensive data set on writedown statistics on the web.
* a running tally of credit writedowns by global banks (now over $1 trillion)
* a look back at the increasing amounts of capital raised by global financial institutions

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