The developments of the past few weeks are likely to change our financial markets as much as any short period in most of our lifetimes. Here's a rundown and description of recent key events.
August. 23: Lehman Brothers loses 3.9$ billion due to subprime mortgage crisis. Lehman announces a loss of $3.9 billion and their intent to sell off a majority stake in their investment-management business, According to this fact many other banks also lost money due to the sub prime mortgage crisis.
Sept. 7: Government Seizes Fannie Mae, Freddie Mac
Government takes control of the mortgage giants. This has happened because as the greatest problem for every bank is having all its costumers asking for their money, by nationalizing the two greatest mortgage giants “Fannie Mae and Freddie Mac” the people are more confident with there money and therefore dont ask for it.
Sept. 11: Lehman Brothers Says it’s Actively Looking to be Sold
Lehmans......

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Title: Jumping
Approximate Word Count: 550
Approximate Pages: 3 (250 words per double-spaced page)

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