Straight Talk — First Anniversary

This issue marks the first anniversary of the economic crisis. You remember September 2008? Federal regulators took over Fannie Mae and Freddie Mac on Sept. 7; Lehman Brothers filed for bankruptcy Sept. 15, the same day Bank of America bought Merrill Lynch; Treasury set up a money market guarantee program on Sept. 19; the Fed approved Goldman Sachs and Morgan Stanley for bank holding company charters on Sept. 21, and the OTS closed Washington Mutual on Sept. 25. Many other developments, such as the introduction of TARP, the increase in deposit insurance coverage and the rapid escalation of bank . . .

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