16 Jun 2008: Latest Writedowns News

The following are the links regarding the global credit crunch that have been recently added to the Credit Crisis Timeline. The full timeline is accessible here

2008 06 05 MBIA, Ambac, $1 Trillion of Debt, Lose S&P AAA Rating
2008 06 05 MGIC, PMI Downgraded by Fitch on Poor Underwriting
2008 06 05 Frank-Dodd Rescue Prolongs Housing Crisis by Deferring Defaults
2008 06 06 National City Is Under U.S. Scrutiny
2008 06 06 SEC reportedly probing AIG’s swaps
2008 06 09 Lehman Brothers to post $3 bln loss; sets $6 bln stock sale
2008 06 09 Lehman to post $2.8 billion quarterly loss
2008 06 09 Lehman Cuts $130 Billion of Assets to End Bear Stigma
2008 06 09 Citigroup, Merrill, UBS Face Further Writedowns, Whitney Says
2008 06 09 Washington Mutual Falls on $22 Billion Loss Estimate
2008 06 11 Banks face $10bn monolines charges
2008 06 12 KeyCorp to raise $1.5 billion, cut dividend 50%
2008 06 13 Fifth Third plunges 11% on analyst cut
2006 06 16 AIG Ousts Sullivan, Taps Willumstad As Losses Mount

accountingbankscrisistimeline