Economic Disasters in the United States - 2007-2009 Recession in the United States, 2010 Flash Crash, Baring Crisis, Black Friday (1869), Black Monday (Paperback)

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 75. Chapters: 2007-2009 recession in the United States, 2010 Flash Crash, Baring crisis, Black Friday (1869), Black Monday (1987), Dot-com bubble, Economic effects arising from the September 11 attacks, Friday the 13th mini-crash, Global financial crisis in November 2008, Global financial crisis in October 2008, List of recessions in the United States, October 27, 1997 mini-crash, Panic of 1792, Panic of 1796-1797, Panic of 1819, Panic of 1825, Panic of 1826, Panic of 1837, Panic of 1857, Panic of 1866, Panic of 1873, Panic of 1884, Panic of 1893, Panic of 1896, Panic of 1901, Panic of 1907, Panic of 1910-1911, Recession of 1937-1938, Recession of 1958, Savings and loan crisis, Silver Thursday, Stock market downturn of 2002, Toxic security, United States bear market of 2007-2009, United States policy responses to the late-2000s recession, VPIN. Excerpt: The policy response to the subprime crisis started in earnest after Lehman's failure in mid September 2008, accelerated after February 2009, and has become very large by September 2009. Governments have relied on a portfolio of intervention tools, but the biggest commitments and outlays have been in the form of debt and asset guarantees, while purchases of bad assets have been very limited. Announcements directed at the banking system as a whole (general) and at specific banks (specific) were priced by the markets. General announcements tend to be associated with positive returns and specific announcements with negative ones. Moreover, general announcements exert cross-country spillovers but are perceived by the home-country banks as subsidies boosting the competitive advantage of foreign banks. Specific announcements exert spillovers on other banks. The United States Senate's version of the $700 billion bailout plan, HR1424, modified to expand bank deposit guarantees...