Major Headlines: June 2008—January 2009
Via Bespoke Group:
Label Date WSJ Lead Headline
1 6/3 Obama Clinches Nomination.
2 6/7 Markets Slammed by Oil, Crude Leaps Nearly $11.
3 6/10 Big Loss At Lehman Intensifies Crisis Jitters.
4 6/11 Inflation’s Bite Worsens Around World.
5 6/21 Ford Reels as Truck Sales Plunge.
6 6/28 Dow Hits Bear-Market Territory.
7 7/12 Crisis Deepens as Big Bank Fails: IndyMac Seized In Largest Bust In Two Decades.
8 7/14 Treasury and Fed Pledge Aid For Ailing Mortgage Giants.
9 7/16 SEC Moves to Curb Short Selling.
10 8/11 Russia Widens Attacks on Georgia.
11 9/8 US Seizes Mortgage Giants FNM and FRE.
12 9/15 Crisis on Wall Street as Lehman Totters, Merrill Is Sold, AIG Seeks to Raise Cash.
13 9/17 US To Take Over AIG in $85 Billion Bailout; Central Banks Inject Cash as Credit Dries Up.
14 9/20 US Bailout Plan Calms Markets, But Struggle Looms Over Details.
15 9/22 Goldman, Morgan Scrap Wall Street Model, Become Banks in Bid to Ride Out Crisis.
16 9/26 WaMu Is Seized, Sold Off to JP Morgan, In Largest Failure in US Banking History.
17 9/30 Bailout Plan Rejected, Markets Plunge, Forcing New Scramble to Solve Crisis.
18 10/4 Historic Bailout Passes As Economy Slips Further.
19 10/14 US to Buy Stakes in Nation’s Largest Banks.
20 10/23 Markets Fall as Fears of Slump Span World.
21 10/28 Crisis Deals New Blow to Japan: Stocks at ’82 Levels.
22 11/5 Obama Sweeps to Historic Victory.
23 11/19 Big Three Plead For Aid.
24 11/24 US Agrees to Rescue Struggling Citigroup.
25 12/12 Top Broker Accused of $50 Billion Fraud.
26 12/17 Fed Cuts Rates Near Zero to Battle Slump.
27 12/29 Israel Pounds Gaza Again, Signals More on the Way.
28 1/3 Manufacturing Tumbles Globally.
29 1/8 Corporate Scandal Shakes India.
30 1/10 Citigroup Takes First Step Toward Breakup.
31 1/15 Bank of America to Get Billions in US Aid.
32 1/21 President Barack Obama.
33 1/23 Thain Ousted in Clash at Bank of America.
Tweet
Facebook
Reddit
Digg this!
February 11th, 2009 at 2:36 pm
#34. Barry puts in another toe?
February 11th, 2009 at 2:40 pm
lets hope that the slope of the index looks different from when Obama became president than it did when he locked up the democratic nomination.
February 11th, 2009 at 2:50 pm
3 of the most positive direct correlations here (13, 24, and 33) would seem to indicate the US should terminate every CEO (and their golden parachutes) and take over every failed company.
February 11th, 2009 at 2:55 pm
This video from today’s congressional bank hearing fits in with this chart of events as the congressman tearing them a new one is expressing pent up frustration as illustrated on this timeline.
http://jessescrossroadscafe.blogspot.com/2009/02/todays-congressional-hearing-on-banks.html
February 11th, 2009 at 3:07 pm
This is bogus: nowhere is there anything about Brittany Spears using steriods to give birth to octuplets.
February 11th, 2009 at 3:15 pm
pandit taking $1 salary.
Ken Lewis? lol
Dimon?
February 11th, 2009 at 3:21 pm
stuart,
Nice link, though I don’t agree it was ONLY the banks that created this. Many hands had a role but that video made my day.
February 11th, 2009 at 3:25 pm
Nice one Stuart, thanks.
#35. Bailout Nation dropped by McGraw-Hill.
from Paul Kedrosky: “I’m sure Barry will get another publisher. The timing is good for the book, so it won’t likely lie there for long. In the interim, this will be raw meat for Barry. (I can already imagine the new cover blurb, “The book S&P didn’t want you to see!!”) He is is ravenous when it comes to this sort of thing, and McGraw Hill has just handed him a delicious set of ingredients with which to make public relations stew. The dumb bastards.”
#36. Bailout Nation picked up by new publisher, Ritholtz doubles royalties AND sues McGraw-Hill AND gets TV time to slag off McGraw-Hill and S & P.
Dumb bastards indeed. Fetch, Barry…
February 11th, 2009 at 3:40 pm
@Stuart: I had the privelege of listening to that live a short time ago. One for the archives.
February 11th, 2009 at 4:30 pm
@ stuart 2.55
That was nice entertainment. He probably didn’t receive enough contribution from the bankers. Someone should ask him how does he feel about congress repealing the Glass Steagall Act, which is one of the major causes of this mess. The congress cannot exonerate itself that easily.
Here is Paul Farrell’s sarcasm.
10 dirty tricks to jump-start a new bull, fast!
February 11th, 2009 at 5:59 pm
@Stuart:
He’s my new hero. I would bear his children. Too bad it won’t have any effect, but it felt good for a moment.
February 11th, 2009 at 6:21 pm
According to a post at CR, Bloomberg reports the inane tax credit provision has gone from the stimulus bill. Slowly but surely, I think members of Congress are realizing that stabilizing higher housing prices is the problem, not the solution.
Anyway, you think we have problems? Try going back from being an urban industrial worker to rural medieval peasant engaged in subsistence farming, in about a week. Some thoughts on China from Angry Bear:
“The Chinese government says that 20 million migrant workers have “recently lost their jobs,” according to state media. This follows an official statement that 2009 would be “possibly the toughest year” for economic development in China since the turn of the century.
Some 15.3 per cent of China’s 130 migrant workers are now jobless, the Ministry of Agriculture said in a statement.”
February 11th, 2009 at 6:37 pm
@leftback: Me-thinks dropping that inane housing tax credit from the bill was at least partly Dems’ revenge on Joe Lieberman, who was a big proponent of it.
February 11th, 2009 at 6:56 pm
Just based on the length of time before the last step down, isn’t it about time for another one?
Unless you believe that the passage of the porkulus “stimulus” bill is going to turn things around and make everything all peachy-keen …
February 11th, 2009 at 7:38 pm
I like the concept of the chart. Of course, what the WSJ chooses to lead with is subjective in many cases. There were other shaping events that aren’t mentioned.
I’ll say this though, those Bespoke guys know how to stay busy.
February 11th, 2009 at 10:12 pm
Trading and technical analysis done on Cisco Systems, Exxon Mobil and the S&P, along with possible moves on NVDIA. Take a look and monitor my daily trades and strategies.
http://blackvaultcm.blogspot.com
February 12th, 2009 at 12:24 am
“The Chinese government says that 20 million migrant workers have “recently lost their jobs,” according to state media. This follows an official statement that 2009 would be “possibly the toughest year” for economic development in China since the turn of the century.
Now that is a bit of irony. This bit of news and Prieur du Plessis reporting that 5 hour lines are forming in Irish unemployment offices tell me that America has not only exported jobs during the boom times but soup lines during the downturn.
February 12th, 2009 at 11:34 am
Did I miss the Madoff headline (Crime of the Century)? Guess that wasn’t major enough to make the WSJ lead headline. How soon we forget.