Bruises fresh, banks return to risky investing

Sept. 15, 2008 Lehman Brothers declares it will file for bankruptcy after government and industry efforts to save it collapse.

Sept. 16 U.S. officials agree to bail out American International Group.

Sept. 22 The Federal Reserve approves emergency bank holding company applications for Goldman Sachs and Morgan Stanley.

Sept. 25 Washington Mutual fails; largest bank failure in U.S. history.

Sept. 29 FDIC agrees to help Citigroup acquire Wachovia, and House of Representatives defeats initial bank bailout proposal. Citigroup/Wachovia deal unravels several days later.

Oct. 3 President Bush signs into law $700 billion financial market bailout package.

Oct. 13 U.S. officials tell top bankers that government wants to buy stakes in their firms.

Nov. 4 Barack Obama is elected president.

Nov. 23 U.S. officials agree to buy more stock in Citigroup and insures large chunk of assets.

Dec. 24 The Federal Reserve approves GMAC's bank holding company application.

Jan. 16, 2009 U.S. agrees to bolster Bank of America with more bailout funds and guarantee assets.

Jan. 20 President Obama sworn in.

March 22 Treasury Secretary Geithner details plans for a public/private investment structure to rid banks of bad assets.

March 28 White House tells General Motors Chief Executive Richard Wagoner that he should step down.

May 7 Bank regulators release results of stress tests on 19 largest banks.

June 17 Obama proposes overhaul of financial market rules.

July 15 U.S. rejects deal to save CIT Group.

Aug. 25 Obama nominates Ben Bernanke to another four-year term as Fed chairman.

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