Spring/Summer 2007 - Cracks appear
A foreclosure sign sits in front of a home in Miami, Fla., March 27, 2007.
April 2 - New Century Financial, the nation's largest subprime mortgage lender, files for bankruptcy.
July 17 - Investors are told two Bear Stearns hedge funds, heavy into mortgage-backed securities, are now worth nothing.
Aug. 10 - The Federal Reserve injects $38 billion into the banking system as fears of a freeze-up in the credit markets mount.
Aug. 22 - Countrywide Financial, a big mortgage lender, sells $2 billion in stock to Bank of America to raise cash as borrowers default on subprime mortgages.
Candidates focus on Iraq, healthcare, and taxes in campaign speeches.
A CNN poll shows voters see the war in Iraq as Issue #1 (31%), followed by the economy (23%), healthcare (17%) and terrorism (10%).
NEXT: Summer/Fall 2007 - The deluge begins
Last updated November 03 2008: 2:44 PM ET
RSS
