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Early 2007: After a period of two years between 2004 and 2006, when U.S. raising interest rates from 1 to 5.35 , the U.S. housing markets begin to suffer, with falling prices and an increase in owners who can not reimburse their mortgages. The proportion of subprime loans that are paid for – high-risk loans to customers with poor or no credit history – increased to record levels.
February: The flaws in the payment of the loans “subprime (mortgage credit to borrowers weak) increase in the U.S. and cause the first specialized bank failures. FED estimated losses at 50Mds.
February 8: HSBC launches a profit warning, announcing that it has lost 10 billion dollars due Children’s Hospital to high-risk home loans outstanding.
April: The credit losses associated with sub-prime are quite significant. Some estimates from the estimated 50bn and 100bn.
April 2: New Century Financial, which specializes in high-risk mortgages, is Chapter 11 bankruptcy protection in the U.S. and cuts half its workforce. The fall of the subprime market is beginning to have an impact at banks around the world.
July: The crisis unfolds. The bags are hesitant. The Chairman Ben Bernanke the Fed warned that the crisis of the deletes could cost up to U.S. 100bn ( 50bn). Failed due to speculation in the U.S. housing market, a number of German banks as Mittelstandsbank IKB, Sachsen LB, WestLB and BayernLB are in crisis.
July 18: The investment bank Bear Stearns announces it will not receive University of Southern California money from their investments in two of its hedge funds after the other banks refused to help.
July 18: European stock markets fall, Asset Management the CAC40 lost 1.69 and back under 6,000 points. In London, the Footsie index lost 1.38 at 6567 points.
July 19: In New York, the Dow Jones breaks a record in more than 14 000 points in the middle of stock market euphoria.
July 26: Wall Street lost 2.26 , London 3.15 2.39 Frankfurt, Ernst Paris and Tokyo lost 2.78 to 2.36 next day.
August 1: European stock markets lost 2 . In Australia, Macquarie Bank expects losses of up to 258 million for two of its funds.
August 1: In the U.S., American Home Mortgage, mortgage financing agency, not in a position to pay 300 million.
August 6: American Home Mortgage Bankruptcy, and Home Bank, and First Magnus Financial.
August 7: The Fed left its rate unchanged, saying that the credit problems and the depression of housing increasing risks posed hospital to the U.S. economy href “http://www.cnbc.com/id/19206666/site/14081545/” lang “en”> Warren Buffett Watch – CNBC.com – Translate
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Some of the philanthropy ideas of Warren Buffet to invest are: No … (a chain like the ABC television or newspapers like The Washington Post) …