The timeline below was gathered from multiple sources, relying heavily on online newspapers and ProPublica and the linked sites listed in their resources. These are just the highlights of the crimes. No doubt you will be able to add to this list.
May the punishment fit the crime.
May justice prevail.
March 2008
US Government offers $29 billion of credit in the form of guarantees for the toxic mortgage-backed debt held on the books of Bear Stearns. The credit was made available as part of a deal where JPMorgan Chase acquired its smaller rival. US Federal Reserve also extends the availability of cheap financing to investment banks as well as commercial banks
May 2008
Washington returns $168 billion to American taxpayers in an attempt to stimulate the US economy
July 11 2008
IndyMac, the US mortgage bank, seized by regulators after a run on the bank left it short of funds. The bank filed for bankruptcy protection three weeks later
July 21 2008
US financial regulators spend a week trying to secure a takeover of two collapsed banks, First National Bank of Nevada and First Heritage Bank in California. Between them, the mortgage lenders controlled assets of $3.6 billion
September 6 2008
The US Government takes control of mortgage companies Fannie Mae and Freddie Mac. Promises to inject up to $100billion into each
September 7 2008
Silver State becomes eleventh US bank to collapse. The lender had $1.7 billion of deposits
September 14 2008
Lehman Brothers files for bankruptcy protection. It controlled $600 billion of assets
September 16 2008
Washington nationalizes AIG. Lends the insurer $85 billion for two years, during which time it is expected to break itself up, raise new capital and pay back the American taxpayer
September 19 2008
US officials start working on a $700bn plan to help rid US banks of their bad debts in order to tackle the devastating global financial crisis. After a meeting with Congress members, US Treasury Secretary Henry Paulson says new laws are needed to deal with the "root" of the problem.
October 1 2008
US Senate approves a revised version of the rescue plan, including tax breaks for families and businesses, among other measures designed to win over sceptics. The original bill was criticized for pandering to the needs of Wall Street bankers at the expense of ordinary citizens.
October 3 2008
The US House of Representatives passes the government's rescue plan. The new version is adopted after the Senate added about $100bn in new tax breaks to win Republican votes.
October 6 2008
The US Federal Reserve announces plans to buy massive amounts of short-term debt from companies in an effort to unfreeze the money markets.
October 14, 2008
The US government taps into the $700bn available from the Emergency Economic Stabilization Act to announce a $250bn plan to purchase stakes in a wide variety of banks in an effort to restore confidence in the sector. Government deposit insurance is expanded to cover accounts used by small businesses.
November 5 2008
The United States government announces it will sell bonds worth $55bn in an effort to finance its bank rescue programme. The Treasury Department launches a new type of bond, which will reach maturity after three years.
November 9 2008
nsurance giant AIG gets fresh financial help from the US government, which brings the total aid package for the firm to about $150bn. The government will put $40bn into the firm by buying preference shares, which will give it an ownership stake in AIG. The $40bn comes from the $700bn bail-out package for the US financial system.
November 12 2008
US Treasury Secretary Henry Paulson says authorities have abandoned plans to use some of the $700bn to buy up banks' bad debts. Instead, the bail-out fund will continue to be used to buy shares in the lenders to help boost their balance sheets.
November 25 2008
The Federal Reserve says it is to inject another $800bn into the US economy in a further effort to stabilize the financial system. About $600bn will be used to buy up mortgage-backed securities while $200bn is being targeted at unfreezing the consumer credit market.
December 19 2008
The US government says it will provide $17.4bn in loans to help troubled car makers General Motors and Chrysler survive - though Ford says it hopes to cope without the aid. President George W Bush says allowing the US car industry to fail would not be "a responsible course of action".
January 15 2009
Democratic leaders in the House of Representatives unveil a $825bn recovery package aimed at turning around the US economy. The mix of tax cuts and spending - developed with President-elect Barack Obama - aims to create millions of jobs as it attempts to halt the recession.
January 15 2009
the US Treasury announces that Bank of America will receive $20bn in fresh government aid and $118bn worth of guarantees against bad assets. This is in addition to the $25bn it received last October.
January 20, 2009
Inauguration of President Barack Obama
January 24 2009
President Obama pledges that his economic recovery package will be at the centrepiece of his administration and says he hopes that the $825bn plan will pass Congress by mid-February. The House of Representative has already begun deliberations on the plan, which includes tax cuts, aid to states, and a boost to spending on infrastructure.
Mr Obama says that 80% of the spending will take place within 18 months.
February 17 2009
President Barack Obama signs his $787bn economic stimulus plan into law, calling it "the most sweeping recovery package in our history".
March 2 2009
Insurance giant AIG reports the largest quarterly loss in US corporate history of $61.7bn in the final three months of 2008. The firm is also to receive an extra $30bn from the US government as part of a revamped rescue package.
March 16 2009
The US government has announced wide ranging measures to help domestic small businesses cope with the ravages of the global economic downturn. The package will use up to $15bn to increase liquidity to encourage lending to small companies.
March 19 2009
Car parts suppliers in the United States are to receive $5bn in financing from the government. The money will be made available from the government's bank bail-out fund.
March 23 2009
The US Treasury unveils details of a plan, worth up to a possible $1 trillion, designed to encourage investors to buy up toxic assets.
April 30 2009
Chrysler files for federal bankruptcy protection with a plan to allow the United Auto Workers (UAW) to take control. Automaker Fiat and the US would be junior partners.
June 1 2009
GM files for bankruptcy with $172 billion in debt, the second largest filing in corporate history
June 10 2009
As part of bankruptcy restructuring, an alliance forms between Chrysler and Fiat. The deal established a new company, Chrysler Group LLC, which is 55% owned by the United Auto Workers (UAW), 20%-35% owned by Fiat, and 8% and 2% owned by the US and Canadian governments respectively.
July 2009
Committed $75 billion to the Making Home Affordable Program to modify existing mortgages to help prevent foreclosures.
July 10 2009
GM emerges from bankruptcy with U.S. assistance of 60% ownership in newly created company to take over GM's smaller holdings
July-August 2009
$3 billion Cash for Clunkers program provided up $4500 to people buying a new, more fuel efficient car than the one they were driving as a stimulus to the economy and to reduce pollution from older cars
September 2009
Early this year, the Administration included a $250 billion "placeholder" in the President’s budget in case additional funds were needed to achieve financial stability. But with the "stress test" of the nation’s major financial institutions successfully completed and major firms able again to raise private capital on their own, we removed it. At the height of the crisis, Treasury guaranteed over $3 trillion in assets to prevent a run on money market mutual funds. The program achieved its purpose, and Treasury terminated it in September. Not only did it not cost the taxpayers anything, it earned them $1.2 billion in fees.
November 2009
Treasury released report indicating that 500,000 homeowners had completed the mortgage modification program and avoided foreclosure.
Summary
The previous Administration provided $239 billion in support for banks. Since January, Treasury has provided $11 billion in almost 400 financial institutions, the vast majority of which are small and community banks. Meanwhile, banks that received assistance have repaid more than $70 billion. In addition, they have paid over $9 billion in dividends, interest and other income. For the 25 institutions in which Treasury’s investments have been fully repaid, Treasury has earned an annualized average return of roughly 17 percent.
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You grab the pitchforks. I'll get the torches.