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After the near-collapse of the US investment bank Bear Stearns in March In July and July, the second largest bankruptcy of IndyMac in the United States will break down in the United States. An institute, Lehman Brothers, imposes more and more. The global economic outlook is also deteriorating rapidly.
1. August
US bank Lehman Brothers is negotiating the sale of $ 30 billion worth of mortgage-backed securities (currently: $ 26 billion).
The Bavarian automaker BMW shocked with a billion warnings. Plans for the new SUV X7 are buried.
In 2008, seven financial institutions in the United States have already collapsed.
2. August
US authorities close First Priority Bank.
3. August
Auto sales in the United States fall to their lowest level since 1992.
4. August
The British Royal Bank of Scotland (RBS) lost billions. It's the biggest loss that a British bank has ever suffered in a semester
Billions of write-downs make HSBC bank the most difficult to manage in Europe
Unemployment in Spain reaches its highest high level for ten years. One of the oldest US retailers declared bankruptcy in the department store chain Boscov – founded in 1911.
The quarterly profit of the Swiss reinsurer Swiss Re, which operates worldwide, is halved.
5. August
The credit crisis is "an event that occurs once or twice a century," said former Fed chief Alan Greenspan . It may be that a number of banks and financial institutions on the brink of insolvency are being rescued by governments. Some governments may try to regain their access to the economy. "If it turns out to be, globalization could be pushed back – with a horrible price."
The UK mortgage bank Northern Rock led in the first half a loss of just under 590 million pounds (currently: 661 million euros). ] The US Federal Reserve maintains interest rates unchanged at 2%.
6. August
The European real estate financier Eurohypo slips into the red
The US investment bank Morgan Stanley stops the payment of regular mortgage loans to thousands of customers
The American giant of insurance AIG recorded a quarterly loss of $ 5.4 billion
7. August
Barclays, Dresdner Bank and the Dutch insurance company Aegon report losses and losses
The European Central Bank (ECB) leaves its interest rate at 4.25%.
8. August
Tens of thousands of American savers suffering from a credit crunch would have received billions of dollars in unprecedented compensation from the judiciary.
Fannie Mae, one of the largest mortgage lenders in the United States, suffered for the fourth time unexpected losses. 19659013]. August 9
The British Financial Services Authority (FSA) swears major financial institutions in other difficult times
Even strong US cooperative banks write off billions.
11. August
German economists expect a contraction of the economy. Even the word ugly recession falls
12. August
The Swiss bank UBS realizes a quarterly loss of 221 million euros
US banks tighten the criteria for granting loans
The US bank JP Morgan Chase is still doing radiation write-offs Billion dollars.
13. August
The ECB provides banks and savings banks with more than 50 billion euros in cash.
BayernLB sees the acute crisis overcame.
14. August
US housing market prices will stabilize in the first half of 2009, according to Greenspan.
15. August
The US financial investor and billionaire George Soros increases his stake in the troubled Lehman Brothers Bank from 9.5 million shares to 1.4 percent.
16. August
The US economy will not recover in the second half, according to the highest officials of the US Federal Reserve.
17. August
Lehman Brothers Negotiates $ 40 Billion Sale of Securities and Commercial Assets
Morgan Stanley believes the financial crisis will last well beyond this year. Probably it will be finished "between next year and 2010".
18. August
The German Bundesbank does not expect a rapid recovery of the German economy.
19. August
The American construction giant Home Depot is suffering terribly from the real estate crisis.
21. August
Lehman Brothers conducts unsuccessful sales negotiations in Asia
The US economic barometer fell more sharply than expected.
22. August
The Korea Development Bank plans to join Lehman Brothers
"The crisis is expected to last until the beginning of 2010 – at least, and global losses far exceed $ 1 trillion (currently : about 580 billion euros), says the American Nobel Prize winner Joseph Stiglitz
For the first time in 16 years, the British economy is no longer developing.
23. August
The ninth bank collapsed in the United States since the beginning of the year
26. August
In Austrian banks, depreciations of structured credit products accumulated since the summer 2007 rise to 2 billion euros
According to the ifo survey, the German economy loses confidence in the recovery
according to the member of the ECB Council Jürgen Stark recovers only slowly, horror scenes are displaced
] August 27
Lehman Brothers is pleased with the offers for their badet management.
According to the French president Nicolas Sarkozy the global financial crisis has now reached the "heart of capitalism".
28. August
The world's major central banks are planning major changes to their rules to prevent the money market from drying up in future crises. They want to greatly facilitate access to liquidity in case of emergency.
French banks are falling more and more into the maelstrom of the international financial crisis
The US economy is growing surprisingly strong.
29. August
BAWAG announces a net loss of 41 million euros for the first half of the year
Housing prices fall in the luxurious district of the British capital London for the first time since 2003
30.
Britain threatens finance minister Alistair Darling the worst economic crisis in 60 years
Japan's second largest bank, Mizuho, does not face an early end of the financial crisis in sight.
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