June 1, 2009 -- General Motors Corp., the top U.S.
automaker and once the world's largest corporation, filed for bankruptcy
protection on Monday. >>>
May 1 -- Chrysler LLC officially announced on Thursday that the once auto
giant will file for Chapter 11 bankruptcy shortly after U.S. President Barack
Obama made a midday speech, in which he indicated that the troubled automaker
will form an alliance with the Italian carmaker Fiat Group SpA. >>>
March 30, 2009 -- U.S. automaker General Motors on early Monday
confirmed the resignation of Rick Wagoner as chairman and chief executive
officer of the company, and named Fritz Henderson, its current president and
chief operating officer, as its new CEO. >>>
March 30, 2009 -- U.S. President Barack Obama announced Monday a plan to
help the nation's struggling auto industry restructure for the future,
preventing its "sudden collapse." >>>
March 26, 2009 -- The U.S. economy shrank at an annual rate of 6.3 percent in
the final quarter of 2008, with economists predicting an 5-6 percent annualized
drop for the current quarter, the Commerce Department reported Thursday. >>>
March 24, 2009 -- The Ministry of Finance (MOF) will issue 3 billion
yuan (441.2 million U.S. dollars) in local government bonds on behalf of the
Xinjiang Uyghur Autonomous Region on March 30, the first such issue in China,
the ministry said Tuesday. >>>
March 23, 2009 -- Fifteen of 20 top employees who received some of the
biggest bonuses from American International Group (AIG) have agreed to return
them back in full, which is more than 30 million dollars, New York Attorney
General Andrew Cuomo said on Monday. >>>
March 23, 2009 -- The Obama administration on Monday unveiled details of
a toxic asset rescue plan, taking a bold step to cleanse from bank balance
sheets bad assets that have frozen up lending and fueled the recession. >>>
March 19, 2009 -- The U.S. House of Representatives passed a bill on
Thursday to impose a 90-percent tax on bonuses paid out to executives by firms
receiving government bailout money like insurance giant American International
Group (AIG). >>>
March 18, 2009 - U.S. Federal Reserve announced it will buy up to an
additional 750 billion dollars of agency mortgage-backed securities, 300 billion
for long-term Treasury bonds, and 1 billion for debt issued by Fannie and
Freddie. >>>
March 14, 2009 - The G20 Finance Ministers and Central Bank Governors Meeting
issued a communiqué calling for further action to restore global economy. >>>
March 11, 2009 - U.S. President Barack Obama signed a 410-billion-dollar
spending bill to keep the government operating until fiscal year 2010 begins on
Oct. 1. >>>
March 5, 2009 - The European Central Bank (ECB) cut its key interest
rate by a half percentage point to 1.50 percent to counter the economic slowdown
in the euro zone. >>>
February 2009 - China unveiled stimulus package for 10 sectors. >>>
Feb. 22, 2009 - Major European Union countries agreed on a plan to
inject new momentum into efforts to overhaul the global financial system with
the help of international organizations ahead of an April summit of the Group of
20 nations in London. >>>
Feb. 18, 2009 - U.S. President Barack Obama revealed a mortgage relief
plan in an effort to prevent more Americans from losing their homes. >>>
Feb. 10, 2009 - U.S. Senate approved President Barack Obama's massive
stimulus package. >>>
Feb. 5, 2009 - Britain's central bank cut its benchmark interest rate to
a record low of 1 percent. >>>
Feb. 4, 2009 - The Obama administration imposed a pay cap of 500,000
U.S. dollars for top executives at companies that receive the government bailout
money to weather the current financial crisis. >>>
Jan. 30, 2009 - The U.S. economy shrank at an annual rate of 3.8 percent
in the fourth quarter of last year, the weakest quarterly showing since the
first quarter of 1982. >>>
Jan. 19, 2009 - The British government unveiled a 300-billion-pound
(about 438 billion U.S. dollars) rescue package in an attempt to make the banks
resume normal lending. >>>
Jan. 13, 2009 - Citigroup and Morgan Stanley agreed to merge their
brokerage units. >>>
Jan. 8, 2009 - U.S. President-elect Barack Obama unveiled his economic
stimulus plan, designed to help lift the economy out of a deepening recession.
>>>
Special Report:
Global Financial Crisis
Major financial crises in
history
