September 14th 2008
Investment banker Lehman Brothers files for bankruptcy protection.
Rival Merrill Lynch agrees to be taken over by Bank of America

September 16th 2008
The Federal Reserve Bank of New York will lend USD 85 billion to AIG to save the company from disorderly failure. US government to receive 79.9% equity in the insurer

September 18th 2008
British bank Lloyd TBS buys rival HBOS, scooping up Britain’s’ largest home loan lender in all share deal, which values HBOS at over GBP 12 billion

September 19th 2008
US Treasury Secretary Mr Henry Paulson calls for the government to spend hundreds of billion dollars to take toxic mortgage assets of the books of financial firms to restore stability. The news rallies shares in America and Britain

September 20th 2008
Bush administration asks congress for USD 700 billion to bail out firms burdened with bad mortgaged debts.
Berclay Bank buys the core of Leman Brothers on the same day

September 21st 2008
Goldman Sachs and Morgan Stanley are granted approval to become bank regulated companies by Fed, effectively killing off the investment banking model

September 22nd 2008
Japan’s Nomura Holding buys the Asian operations of Lehman. It later also acquires its European investment banking operations

September 24th 2008
Warren Buffetts’s Berkshire Hathway Inc invests USD 5 billion in Goldman Sachs Group Inc.

September 26th 2008
Washington Mutual is closed by the government, in by far the largest failure of a US bank and its banking assets are sold to JP Morgan for USD 1.9 billion

September 28th 2008
Congressional leaders from both parties say that they have a tentative agreement on the USD 700 billion fund to buy toxic debts

September 29th 2008
The House of Representatives reject USD 700 billion bail out plan, sending global markets sliding

October 3rd 2008
The House of Representatives passes revised bail out plan two days after the Senate.
Wells Fargo says that it has agreed to buy Wachovia for about USD 16 billion, thwarting a planned Citigroup deal

October 5th 2008
European leaders commit to ensure the soundness and stability of banking and financial systems
Germany struggles to rescue lender Hypo Real Estate

October 6th 2008
Dow sinks below 10,000 for the first time in last 4 years on fear of global recession

October 7th 2008
Iceland id forced to prop up its currency, takes over Landsbanki, its second largest bank and asks Russia for a loan of EUR 4 billion to avoid national bankruptcy

October 8th 2008
Central banks around the world cut interest rates in a joint response to the crisis

October 10th 2008
Stock still dives, at almost all the exchanges across the world

The drop in stock on Friday in some of the place sis as under
Tokyo – 10%
London - 9%
Brazil - 10%
Australia – 8%
Frankfurt - 7.01%
Paris - 7.73%
Zurich - 7.79%
Milan - 6.54%
Tokyo - 9.6%
Hong Kong - 7.2%
Melbourne – 8%
Johannesburg – 3.09%

October 12th 2008
Kuwait Stock Exchange – 3 %
United Arab Emirates - 4.5%
Muscat – 3%

It would be very interesting to watch the movement of stocks today