https://www.latimes.com/business/la-fi-financial-crisis-timeline-20180909-htmlstory.html

March 16, 2008 | Billions in worthless securities

J.P. Morgan Chase agrees to buy Bear Stearns Co. for a stunningly low $2 a share in a deal backed by emergency Federal Reserve funding to prevent the failure of the 85-year-old investment bank, which was dragged down by billions of dollars of mortgage-backed securities that went bad.

Sept. 7, 2008 | Uncle Sam takes over mortgage giants

The federal government bails out and takes control of Fannie Mae and Freddie Mac, government-chartered but privately owned firms that reported billions of dollars of losses on some $5 trillion worth of mortgage debt they own or guarantee.

​​​​​​Sept. 15, 2008 | Wall Street giants derailed

Lehman Bros., an aggressive underwriter of mortgage-backed securities, files for bankruptcy protection, and Merrill Lynch agrees to a $50-billion takeover by Bank of America — sending the Dow down 504 points the following Monday, the most since the September 2001 terrorist attacks.

​​​​​​Oct. 3, 2008 | Banks get a big handout

Despite strong opposition, the House of Representatives approves a $700-billion fund to save Wall Street firms and other banks, setting in motion the biggest government intervention in the financial system since the Great Depression.