crash AIG

Tells a partial story of how financial products emerged

Collapse of Financial Capital Wall Street America

The Last 6 months of 2008, were the worst, that lead to fall of investment banking era, with the downfall or evaporation of firms like
Wachovia,
Lehmen Bros,
Merill Lynch,
AIG,
Forced Goldman Sacs and Morgan Stanley to obtain bank status from pure investment firms,
Washington Mutual,
Rescue of Citigroup by Fed, indirect pumping of lifeline to almost every Bank with TARP.

If TARP concept was used from the beginning, Couldn't we have rescued the downfall of financial firms ?
It took nearly 1 year to officially declare a recession which was sometime 2008 Oct.

CEOs of Merill O Neal, Thain and Lewis of BAC

Thain Failure to Rescue Merrill Shareholders Messes Mr. Fixit