November 4 – 2008 United States presidential election: Democratic U.S. Senator Barack Obama defeats Republican candidate John McCain and is elected the 44th President of the United States, making him the first African-American to be elected to the office.
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What big events happened in 2008?
Barack Obama became the first Black American elected president in 2008, a year that also brought the release of “Iron Man,” the first film in the Marvel Cinematic Universe.
What happened to the world in 2008?
The 2008 financial crisis began with cheap credit and lax lending standards that fueled a housing price bubble. The low-quality loans were packaged and resold to financial institutions as investments. When the bubble burst, the institutions were left holding trillions of dollars of worthless mortgages.
Why is 2008 important?
The 2008-09 financial crisis sent the world into the Great Recession, the most significant economic downturn since the Great Depression. New legislation aimed to regulate financial activities, while also bailing out important industry sectors.
What did the 2008 crisis cause?
Millions of people lost their jobs as the major advanced economies experienced their deepest recessions since the Great Depression in the 1930s. Recovery from the crisis was also much slower than past recessions that were not associated with a financial crisis.
Historical Events in 2008 ˇ Redskins Coach Retires Again ˇ Clooney Messenger of Peace ˇ "Breaking Bad" Premieres ˇ Super Bowl XLII ˇ 50th Grammy Awards ˇ Laureus ...
From peak to trough, US gross domestic product fell by 4.3 percent, making this the deepest recession since World War II. It was also the longest, lasting ...
The Great Recession was a sharp decline in economic activity from 2007 to 2009 and was the largest economic downturn since the Great Depression.
Sep 14, 2018 ˇ The 2008 financial crisis had its origins in the housing market, for generations the symbolic cornerstone of American prosperity.
February 5 – February 6: Super Tuesday tornado outbreak ; November 4: Barack Obama is elected U.S. president ; December 18: George W. Bush ducks one of al-Zaidi's ...
Sep 4, 2023 ˇ Then, in September 2008, US bank Lehman Brothers filed for bankruptcy and the global financial system went into meltdown. The standard ...
January 2, 2008 Crude oil prices briefly rise above $100 a barrel before closing at $99.62 a barrel. The new record high is close to the inflation-adjusted ...
By the fall of 2008, borrowers were defaulting on subprime mortgages in high numbers; the collapse of the financial markets and the global Great Recession ...
The financial crisis of 2007–08 was a severe contraction of liquidity in global financial markets that originated in the United States as a result of the ...
