Resource of the Week: The Financial Crisis Timeline
By Shirl Kennedy, Senior Editor

As is painfully obvious by now, the current financial crisis is complex and multifaceted, affecting virtually every sector of the economy. The Financial Crisis Timeline, from the Federal Reserve Bank of St. Louis, is a valiant attempt to help us make sense of it all.

Says James Bullard, president of the St. Louis Fed:

The Federal Reserve and other agencies have taken many steps to contain the ongoing financial crisis and limit its impact on the broader economy. It is critically important that we clearly communicate our actions to better ensure their success. This web site was created to provide the public with useful information about major financial events and policy actions, both over the past months and going forward.

A quick look at the site is enough to tell you there is much more here than a timeline. You’ll find relevant articles and papers; an FAQ that tackles such issues as causes of the current crisis and how it compares to the Great Depression; a large collection of data, including financial data, national and international economic trends, and yields on various treasury securities; links to other government agencies offering relevant information and reports; and a glossary of financial terms.

Other links and resources you can find here:

• The FDIC Failed Banks List
• A Foreclosure Resource Center
• Dynamic Maps of Nonprime Mortgage Conditions in the United States
• SEC Actions During Turmoil in Credit Markets
• International Monetary Fund: The Financial Crisis
• OECD: Tackling the financial and economic crisis
• World Bank: Financial Crisis

Oh, by the way…the timeline itself is in the center of the home page. There’s a link to download it in PDF (153 KB). The earliest entry is:

February 27, 2007 | Freddie Mac Press Release
The Federal Home Loan Mortgage Corporation (Freddie Mac) announces that it will no longer buy the most risky subprime mortgages and mortgage-related securities.

But since this timeline is continually updated, you may want to opt for the RSS feed.

This entry was posted on Monday, March 2nd, 2009 and is filed under Business and Economics, Resource of the Week, Source File. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.