September 21, 2008: Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS), the last two of the major investment banks still standing, convert from investment banks to bank holding companies in order to gain more flexibility for obtaining bailout funding.
September 25, 2008: After a 10-day bank run, the Federal Deposit Insurance Corporation (FDIC) seizes Washington Mutual, then the nation's largest savings and loan, which had been heavily exposed to subprime mortgage debt. Its assets are transferred to JPMorgan Chase (NYSE:JPM).
September 28, 2008: The TARP bailout plan stalls in Congress.
September 29, 2008: The Dow declines 774 points (6.98%), the largest point drop in history. Also, Citigroup (NYSE:C) acquires Wachovia, then the fourth-largest U.S. bank.
Read more: The Fall Of The Market In The Fall Of 2008 http://www.investopedia.com/articles/economics/09/subprime-market-2008.asp#ixzz3nqT6TFtX
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