One of the thousands of homes in the United States put on auction by the subprime crisis.
150 million was injected by the leading banks in order to save the U.S. economy. The bags were able to recover from the falls suffered in January.
February 7: The leader of the EDF Ben Bernanke expressed concern for insurers. The ECB maintained rates at 4 and the IMF applauded the decision. Later, the Bank of England cut interest rates by quarter point to 5.25 . The U.S. Congress passed a bill on economic incentives and the White House said that President Bush signed to approve it.
February 10: Leaders of the G7 group of industrialized nations around the world announced that the losses resulting from the fall of the U.S. mortgage market cost could reach 400,000 million dollars. The G-7 heralded a bleaker economic outlook for 2008, with a global slowdown and persistent tensions stock and announced its readiness to act to stabilize global stock markets.
February 11: Bank of America bought Countrywide, the leading U.S. mortgage AIG announced new problems and recovered its earlier losses suffered in December 2007 but, despite all his stock fell.
February 12: The “Project Lifeline” was announced by the Bush administration. Supposedly, it was intended to cover people with all types of mortgages, not just subprime loans. Later, the Fed auctioned another 30,000 billion dollars to commercial banks. The Dow Jones rises by 1 after the announcement that Warren Buffet is to rescue the bond insurers. 148
February 14: The chairman of the U.S. Federal Reserve Ben Bernanke said that economic prospects of their country “have deteriorated” and he added that “there is the possibility of a greater decline than expected.” UBS confirms it has lost 12,451 million Swiss francs in 2007. On April 1, announces further losses.
February 17: The British Government decided to nationalize an indeterminate period of time the bank Northern Rock, which was a few months earlier of an emergency loan to the Bank of England to escape bankruptcy.
February 19: The entity Swiss Credit Suisse and Barclays confirmed the British lost.
February 25: House prices in the U.S. fell 8.9 percent in the fourth quarter of 2007, the largest drop recorded in the last 20 years, reports Standard Poor’s.
February 26: The Royal Bank of Scotland announced that it lost 1,500 million pounds by the credit crisis.
February 29: The supervisory agency of the German stock market value losses caused by the subprime crisis to a total of 430,000 million dollars.
- The New Reverse Mortgage Formula: How to Convert Home Equity into Tax-Free Income by Tom Kelly (Paperback – Mar 1, 2005)
- The Complete Idiot’s Guide to Success as a Mortgage Broker by Daniel S. Kahn and Marian Edelman Borden (Paperback – Jun 6, 2006)
- Mortgage Free!, Second Edition: Innovative Strategies for Debt-Free Home Ownership by Robert L. Roy (Paperback – Nov 15, 2008)