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Big Short Timeline
Creado
Matthew Brtek
⟶ Actualizado 7 dic 2017 ⟶
List of edits
Comentarios
Eventos
First Mortgage Derivative Created
First CDO created by Drexel
Fannie Mae begins extending home ownership to sub-prime customers
Fannie discloses a $8.3 billion holding of "expanded approval" loans
Emergency Economic Stabilization Act of 2008
U.K. announces Bank Rescue Package
Glass-Steagall Act Repealed
Largest daily recorded loss in Stock Market history
S&P down 11.88%, Burry +55%
Dodd-Frank Act
Burry bought first CDS, buying $60m in insurance from Deutsche
Over half a trillion dollars in subprime mortgages
First corporate CDS by JP Morgan
Eisman and Lippmann meet
AIG gets involved
Lippmann joins party in credit default swaps
Standard & Poor's announces change to mortgage bond rating
'For Sale' signs increase
Early 2003, Cornwall Capital is formed
Cornwall tries to buy swaps on AA CDOs
Las Vegas Conference
DJIA closes above 14,000
2,200,000 foreclosures were filed in 2007, more than 1% of US homes
3,000,000 foreclosures by end of 2008
Almost 4,000,000 by 2009
Largest U.S. subprime lender, files for chapter 11 bankruptcy
Ben sold Cornwall's position 80:1
Burry began to unload his position
Frontpoint ended 2007 doubling their fund, to $1.5 billion
Lehman Brothers files bankruptcy
Merrill Lynch sold to Bank of America
First mortgage back CDO created by Credit Suisse
Períodos
Fannie Mae investigates CEO
Homeownership steady at 63%
Scion Capital operates under Michael Burry
25+ subprime lenders declare bankruptcy