The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted to prevent future financial crises. It introduced significant financial regulation, including the creation of the Consumer Financial Protection Bureau and measures to increase transparency and accountability.

President Barack Obama signed the American Recovery and Reinvestment Act into law, providing $787 billion in stimulus to revive the U.S. economy. The act aimed to create jobs, spur economic activity, and invest in long-term growth through infrastructure projects.

Leaders from the G20 nations met in Washington, D.C., to discuss responses to the financial crisis. The summit focused on reforming financial markets and institutions to prevent future crises, marking a significant moment in international economic cooperation.

The U.S. Congress passed the Emergency Economic Stabilization Act, which established the $700 billion Troubled Asset Relief Program (TARP) to purchase toxic assets from financial institutions. This was a critical step in stabilizing the financial system.

The U.S. government provided an $85 billion bailout to American International Group (AIG) to prevent its collapse. AIG was heavily involved in insuring mortgage-backed securities, and its failure would have had devastating effects on the global financial system.

Lehman Brothers, a global financial services firm, filed for bankruptcy, marking the largest bankruptcy filing in U.S. history. The collapse of Lehman Brothers sent shockwaves through the global financial system, exacerbating the financial crisis.

The U.S. government placed Fannie Mae and Freddie Mac into conservatorship to prevent their collapse. These government-sponsored enterprises held or guaranteed trillions of dollars in mortgage debt, and their failure would have had catastrophic effects on the housing market.

Bear Stearns, a major investment bank, collapsed and was acquired by JPMorgan Chase at a fire-sale price with the backing of the Federal Reserve. This event highlighted the severity of the financial crisis and the vulnerability of major financial institutions.

BNP Paribas, a French bank, froze three of its funds due to subprime mortgage exposure, citing an inability to value assets. This event signaled the beginning of a liquidity crisis in the global financial markets, as banks became wary of lending to each other.

The subprime mortgage crisis began to unfold as New Century Financial Corporation, a major subprime lender, filed for bankruptcy. This marked the start of widespread defaults on subprime mortgages, leading to significant financial instability in the housing market.