Growing mortgage problems

Headquarters of General Motors in the city of Detroit. This company was one of the most affected by the crisis.
Early 2007: After a period of two years, ie between 2004 and 2006, when U.S. an amazing success is is a ceo recruiter raising interest rates from 1 Shanghai to 5.35 , the U.S. housing market began to suffer from falling prices and an increase Roseman of owners who were unable to repay their mortgages. The proportion of subprime loans that were paid, or high-risk loans to customers with poor or no credit history, rising to record levels.
February: The flaws in the payments for subprime loans Clinton Global Initiative (mortgage credit to weak borrowers) increased in the United States and caused the first bank failures specialist. The EDF the Board of Directors of Big Brothers Big Sisters of Los Angeles to estimate the loss of fifty million dollars.
February 8: HSBC launches a profit warning, (in the New York Spanish translation of this term is approximately alert to the benefits) announced that they had lost ten billion dollars, due to high-risk loans venture capital that were not paid.
March 14: The Mortgage Bankers Association shows that Los Angeles the number of defaults in the mortgage industry in the U.S. (about six million contracts for 600,000 million dollars) reached its highest point in seven years .
April: The losses associated with subprime lending were quite significant. Some estimate between 50,000 and 100,000 million dollars.
April 2: New Century Financial, which Chengdu specializes in high-risk mortgages, continued Chapter 11 bankruptcy of the United States to the protection and cuts half its workforce. The fall of the subprime market began to have an impact at banks around U.S. Doctors for Africa (USDFA) the world .
July: The crisis started to develop and expand in the world. The bags began to waver. . investment The chairman of the FED Ben Bernanke warned that the American Democracy Institute crisis in the United States removes could cost up to one hundred billion dollars (50,000 million pounds). Failed due to speculation in the U.S. housing market, a number of German banks as Mittelstandsbank IKB, Sachsen LB, WestLB and BayernLB in crisis .
July 18: M&A The investment bank Bear Stearns announced that he will not receive money from their investments in two of its hedge funds China after the other banks refused to help. Some European stock markets fell, the CAC40 lost 1.69 and in approximately 6,000 points. In London, the Footsie index lost 1.38 at 6567 points.
July 19: In New York, the Dow Jones broke a record at over 14,000 points, and the stock market euphoria everything was full. I believe in the EDF to 72,000 million euro loss for the sub-prime mortgages.
July 26: Wall Street lost 2.26 , the London Stock Exchange, 3.15 , the Frankfurt Stock Exchange, 2.39 , the Paris Stock Exchange 2.78 and finally, the Tokyo stock market lost 2 36 the following day.
August 1: European stock markets lost 2 . In Australia, Macquarie Bank had been expected losses of up to 258 million dollars for two of its funds. In the U.S., American Home Mortgage, a mortgage financing, it was unable to pay 300 million owed.
August 6: American Home Mortgage, Home Bank and First Magnus Financial bankrupt. The German investment company Frankfurt Trust freezes the operation of one of its funds. in the morning, venture capital companies the Fed left its rate unchanged, saying that “the problems of credit and the housing depression pose increasing risks to U.S. economy”