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On February 13, 2007, New Century Financial Company of the United States issued a profit warning for the fourth quarter of 2006. HSBC Holdings increased its bad debt reserve by $654.388+0.8 billion for its subprime mortgage business in the United States. The subprime mortgage crisis in the United States began to appear.
On August 3, 2007, Bear Stearns said that the American credit market was in the worst state in 20 years, and the European and American stock markets plummeted across the board.
On June 24, 2007, influenced by the subprime mortgage crisis, Merrill Lynch, the world's top brokerage company, announced a loss of $7.9 billion in the third quarter of 2007. The day before, Nomura Securities, Japan's largest brokerage, also announced a loss of $6.2 billion in the quarter.
On February 4, 2007, Buffett, an investment giant, began to buy junk bonds issued by TXU, a Texas public utility company, totaling $26,543.8 billion.
June 5438+February 65438+February 2007, the five central banks of the United States, Canada, Europe, Britain and Switzerland announced a joint rescue, including short-term auctions and foreign exchange swaps.
On October 22nd, 2008165438, the Federal Reserve cut interest rates by 75 basis points to 3.50%, which was the biggest rate cut by the Federal Reserve since 1960s.
On February 12, 2008, the six major mortgage banks in the United States announced the "lifeline" plan to prevent foreclosure, and Buffett was willing to provide reinsurance for 80 billion US dollars of US municipal bonds.
On April 8, 2008, the International Monetary Fund (IMF) said that the global subprime mortgage losses were 1 trillion dollars.
July 2008 12, the largest automobile manufacturer in the United States. ...