_Chronology_Primary_Dealers

Primary Brokers and Dealers

2007, Oct 24 : Merrill Lynch reports 3rd quarter earnings that contains $7.9bn losses on CDOs. A week later ML CEO, Stanley ONeal, resigned.<?xml:namespace prefix = o />

2007, Nov 4 : Citigroup CEO, Charles Prince, resigned due to imminent 4 quarter firm losses caused by CDOs exposures.

2008, Mar 14 : Bear Stearns collapses, the Government backs the JP Morgan purchase.

2008, Sep 6/7 : Fannie Mae and Freddie Mac are rescued by Government.

2008, Sep 14 : Lehman Brothers files for bankruptcy; some of its unit are then acquired by Barclays and Nomura.

2008, Sep 15 : Bank of America agrees to merge the ailing Merrill Lynch.

2008, Sep 16 : US Government takes control of AIG that receives an $85bn loan.

Barclays to buy Lehman Bros. north america investment banking platform.

Warren Buffet steps into Goldman Sachs capital.

2008, Sep 17 : Lloyds agrees to acquire HBOS for 12.2bn circa.

2008, Sep 21 : Goldman Sachs and Morgan Stanley announce plans to become bank holding companies.

2008, Sep 22 : Mitsubishi Group injects $9bn of capital in Morgan Stanley and acquires a 20% stake.

Nomura buys Lehman operations in Asia.

2008, Sep 25 : Washington Mutual calls for default and is acquired by JP Morgan for $1.9bn.

2008, Oct 6 : Unicredit announces capital increase for 6.6bn.

BNP to buy Fortis french and belgian assets for 14.5bn.

2008, Oct 9 : Wells Fargo offers $11.7bn for ailing rival Wachovia.

2009, Feb 10 : UBS reports a 4th quarter loss of Chf8.1bn.