History: September 29 (#3)

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Arts & Culture Contemporary Politics & Power

September 29, 2008 The stock market crashes with the Dow Jones dropping a then record 778 points after the United States House of Representatives vote on the Emergency Economic Stabilization Act fails during the beginning stages of the Great Recession.

Commentary

Source: Wikipedia (CC BY-SA)

On September 29, in the year 2008: The stock market crashes with the Dow Jones dropping a then record 778 po ints after the United States House of Representatives vote on the Emergency Economic Stabilization Act fails during the beginning stages of the Great Recession. The Emergency Economic Stabilization Act of 2008, also known as the "bank bailout of 2008" or the "Wall Street bailout", was a United States federal law enacted during the Great Recession, which created federal programs to "bail out" failing financial institutions and banks.

Commentary

Source: Internal

Why September 29, 2008 matters: The stock market crashes with the Dow Jones droppin g a then record 778 points after the United States House of Representatives vote on the Emergency Economic Stabilization Act fails during the beginning stages of the Great Recession. What began on this day left a lasting mark on history. The effects were felt immediately and continued to shape events, ideas, and lives long afterwards.

Commentary

Source: Internal

Historical context: September 29, 2008 The 21st century has already seen profound shifts: the digital revolution has connected billio ns while reshaping politics and culture; climate change has emerged as a defining crisis; and new powers have risen to challenge the world order that followed the Cold War. The event on this day: The stock market crashes with the Dow Jones dropping a then record 778 points after the United States House of Representatives vote on the Emergency Economic Stabilization Act fails during the beginning stages of the Great Recession. Source: https://en.wikipedia.org/wiki/Emergency_Economic_Stabilization_Act_of_2008 (Wikipedia, CC BY-SA)