Great pair of charts from the NY Fed on the various policy responses to the financial crises

Financial Turmoil Timeline

shrader_fig1

International Responses to the Crisis Timeline
shrader_fig2

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Hat Tip: VoxEU via Mike Panzner

Category: Bailouts

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

17 Responses to “Global Crisis Timelines”

  1. philipat says:

    It’s good to know that even if they don’t know what they’re doing, they know what they’ve done?!!

    Timmy can use these in his cv when applying for his next job at Goldman?

  2. call me ahab says:

    staggering amount of initiatives- Sep to Nov was especially busy- and I realize without them we wouldn’t have the vibrant economy we have now- sure am glad they know what they’re doing

  3. franklin411 says:

    Great stuff. I’m going to use this in my lecture on the credit crunch to prove that, unlike 1929, we have a vibrant Fed that isn’t full of dim-witted Harding/Coolidge cronies sleeping their way through turning the Great Crash from a bad recession into the Great Depression.

    @Ahab
    Some well informed person needs to write a “what if” book speculating on what might have happened had the Fed done nothing, as some advocated at the time. I remember September and October. It was odd, because usually when I go to the gym all the TVs are set to ESPN. For those entire two months, though, the TVs were all on CNBC.

    When jocks want to watch business news over sports, you know people are afraid.

  4. VennData says:

    Don’t call them jocks … they’re scrotully-constrained.

  5. cvienne says:

    I’m trying to figure out which ones who regularly visit TBP were the ones who frequently had jock straps placed over their heads (by the varsity team members) in high school, and then tossed into the hallway…

    Hmmm….

  6. Simon says:

    I can help with that survey cvienne. They are the ones who concluded that when the school bus turned up it was time to go home even though it was only lunch time. Couldn’t understand why the bus was empty.

  7. Thor says:

    Cvienne – that would be me, to a point. My nick name in high school was Ducky (ala Pretty in Pink). I do love running into guys I went to high school with now though, generally the dicks and jocks are mostly fat and bald now.

  8. Mannwich says:

    @Thor: I think that’s called “peaking too soon”. It’s a beautiful thing, isn’t it? ;-)

  9. Thor says:

    Manny – yes, it’s wonderful! I was definitely a late bloomer.

  10. cvienne says:

    @Thor

    I was thinking more along the lines of the friends of the Anthony Michael Hall character in Sixteen Candles…

    But your reference will do :-)…

  11. constantnormal says:

    @F411 — just a suggestion — DO go back and research the actions of the “dim-witted” Fed and gummint of the 1930′s — I think you will find that they flailed around as much as we have, and were equally ineffective. Unemployment marched ever higher, the economy continued to slow (out in the real world), but the programs and fixits kept right on a-coming.

    It is not the multitude or magnitude of the actions taken than matters — it’s how effective they are. In that, Obama is proving to be a very good match for Hoover.

  12. cvienne says:

    @Thor

    “Manny – yes, it’s wonderful! I was definitely a late bloomer.”

    Actually, THOR, I have yet another story along those lines and on the same subject…I swear I’m not making this stuff up…Life is WEIRD…

    OK here goes…

    Remember the guy Randy Pausch (who made headlines a few years back due to his battle with pancreatic cancer and his positive approach)?

    Well, I don’t want to make it out that we were BEST FRIENDS or anything like that, but we spent a great deal of time together as pre-teenagers…

    It was your classic (or unusual) jock meets nerd scenario…He was a nerd (who liked to do jock things) – and I was a jock (who liked to do nerd things)…We basically became friends one summer between 7th & 8th grade where we were both enrolled in an advanced placement math summerschool class (so that in 8th grade we’d be able to move onto analytic geometry instead of being stuck in basic algebra)…We’d both scored in the 600-700′s(as 7th graders) in an ad hoc math SAT that they conducted at Johns Hopkins…

    Anyway, we both went to the class during the summer and before class we’d play some tennis, then go PUTT with our tennis rackets at a local miniature golf course near the school…

    Randy even took over my old paper route, and when his family was on vacation (since I knew the route), I’d sub for him, and go over and feed their family cats…They had a pool table in the basement so it was cool…

    We ended up drifting apart as friends because he was in the nerd crowd and I was in the jock crowd…He was ALWAYS competitive in sports (mentally) but his body just couldn’t hack it physically because he was the scrawny type…

    One OTHER thing we used to do was PLAY CHESS all the time…He usually whooped me there, but I took him down a time or two…He played 2nd board on the chess team behing a guy named David Stebbene (who everybody in our school thought would eventually become a US Senator or something)…For some reason, I hacked along and played alternate to the 7th board (although I was a jock who earned 13 varsity letters – NO KIDDING – 4 varsity football – 4 baseball – 4 indoor track – 1 outdoor track during baseball season)…

    Anyway – it was strange for me to hear his name again in the national media…It was about the time I came back to the US from Italy…

    Randy was a good guy…Competitive as all hell even at a young age…It was a nice story…

    Anyway – the “jockstraps on heads” idea came to mind…And NOTE…From my personal story, I wasn’t the NERD who got tossed out by the jocks…Instead, I was a FRESHMAN who made the varsity team (who ended up getting the same treatment)…and they tossed me out there NAKED to boot!

  13. Thor says:

    Cvienne – VERY Cool story! Interesting that someone you knew as a child found his way back into your life (if only via the national media).

    Also interesting you mentioned The Breakfast Club. I could totally relate to that movie, it was exactly like the High School I went to at the time (I was a freshman when the movie came out) The only difference is that I went to a high school know for it’s academic programs rather than sports so it was the smart rich kids who were popular rather than the jocks. I was more of the Alley Sheedy character – kind of funky, a little weird. I tended to hang out with the nerds though but I wasn’t very good in school. I dressed exactly like John Cryers character in Pretty in Pink though – hats, rolled up sleeves, bolo ties, that sort of thing. I wouldn’t say I was ever picked on much, but I was most definitely not part of the “in” crowd. Glad I made it through though, high school was not a fun time for me.

  14. aitrader says:

    Apropos Global Crisis Timelines – it’s certainly a work in progress. Lot’s more to add methinks in the coming weeks.

  15. jc says:

    NYT article on banks mortgage profits. I confess I really don’t understand a lot of it – it sounds like a witches brew of (more) gov bailouts and accounting gimmicks for the banks. Fundamentally it’s hard to reconcile these super profits while the banks are saddled with hundreds of thousands of foreclosed homes (how many “shadow” properties do they have) and home resales and new home construction are totally dormant. Commercial loans and credit cards are two more sucking chest wounds for the banks.

    http://www.nytimes.com/2009/07/15/business/15bank.html?th&emc=th

  16. winstongator says:

    When did the Bear Stearns hedge funds fail – wasn’t it March 07? The timeline should at least go back to there.

  17. FromLori says:

    President Harding was the greatest depression fighter of all so I will assume that was sarc franklin that used to be taught in American classrooms before many of the teachers turned into communists.

    http://www.lewrockwell.com/orig4/powell-jim4.html