We’ve seen a lot of things happen in 2009, some things were expected, some were not, some were shocking, and some were simply never seen or heard of before.
From the biggest Ponzi scheme ever seen in U.S. history, to the global financial credit crisis, to historic health care reform championed by the first black President of the United States.
A lot has happened in 2009, and we’ve compiled it all up for you with the top 8 topics of the entire year.
1. The Global Financial Crisis
With the near collapse of the global credit market, and unprecedented actions being taken by global leaders to stave off a global economic meltdown, the financial crisis was plastered in the media almost every day and even became a primary presidential voting issue, thereby making it the story of 2009. With billions provided in emergency bailout loans to financial intermediaries, Wall Street was still paying millions in bonuses with outstanding government loans, while millions of Americans faced forclosurer and high unemployment rates. The Obama administration later moved to block $165-million in AIG bonuses alone and later blocked bonuses from being paid while the financial intermediaries had outstanding government debt. Warren Buffet’s company Berkshire Hathaway even reported its biggest loss ever (only its second loss in its history). There were also opportunities for firms to act on, such as Disney who acquired Marvel Entertainment for $4B. Despite households losing significant amounts of money primairly from their positions in risky equity positions, some did profit (though not for too long)…Bearnie Madoff was sentenced to 150 years in prison following a conviction for operating the biggest Ponzi scheme ever seen in U.S. history that saw $50 billion defrauded from investors.
Add value by subscribing (
Tip Us