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On Monday, September 15, 2008, the Dow Jones Industrial Average fell more than 500 points, the largest single-day point drop since the 9/11 terrorist attacks. These drops would be exceeded on September 29—the day that the House of Representatives initially voted against the $700 billion Troubled Asset Relief Program (TARP) proposal to provide extraordinary support to financial markets and firms—when the Dow Jones fell 7% and financial stocks fell 16%. For the month, the S&P 500 would lose $889 billion of its value. And specific institutions would take direct hits...
eBook details
- Title: The Financial Crisis Inquiry Report: Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States
- Author : Financial Crisis Inquiry Commission
- Release Date : *
- Genre: Books,Science & Math,Biological Sciences
- Pages : * pages
- Size : * KB
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