Subprime crisis impact timeline

It includes United States enactment of government laws and regulations, as well as public and private actions which affected the housing industry and related banking and investment activity.

It also notes details of important incidents in the United States, such as bankruptcies and takeovers, and information and statistics about relevant trends.

[128] Lehman Brothers leaders Dick Fuld and Joe Gregory double down; in 2007 they fire their internal critics and spend billions of dollars on real estate investments that will, within a year, become worthless, including Archstone-Smith and McAllister Ranch.

If they don't have a AAA rating, then their main line of business (municipal bond insurance for city infrastructure projects) becomes impossible for them to perform.

Former NY Governor Eliot Spitzer says that if the Attorney General cannot bring a case against Goldman Sachs, after the revelations of the Levin-Coburn report, then he should resign.