The U.S. Gross Domestic Product (GDP) returned to pre-recession levels, marking a significant recovery milestone. This economic growth was driven by increased consumer spending, business investments, and a recovering housing market, although the recovery was uneven across different sectors and regions.

The U.S. unemployment rate fell below 8% for the first time since the onset of the Great Recession, signaling a slow but steady recovery in the labor market. This milestone was seen as a positive indicator of economic recovery, although challenges remained in achieving full employment.

The Occupy Wall Street movement began in New York City's Zuccotti Park, protesting against economic inequality, corporate greed, and the influence of money in politics. The movement gained international attention and sparked similar protests worldwide, highlighting public discontent with the economic conditions post-recession.

The Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law, representing the most significant financial regulatory reform since the Great Depression. The act aimed to prevent future financial crises by increasing transparency, reducing risks in the financial system, and protecting consumers.

General Motors, once the world's largest automaker, filed for Chapter 11 bankruptcy protection. The restructuring of GM was part of a broader effort to stabilize the U.S. auto industry, which had been severely impacted by the recession. The U.S. government provided financial support to aid in GM's recovery.

President Barack Obama signed the American Recovery and Reinvestment Act into law, a $787 billion stimulus package designed to spur economic growth and create jobs. The act included tax cuts, expansion of unemployment benefits, and funding for infrastructure projects to combat the effects of the recession.

Barack Obama was elected as the 44th President of the United States, amidst the backdrop of the Great Recession. His election brought hope for economic recovery and reform, as he promised to implement policies aimed at reviving the economy and addressing the financial crisis.

The U.S. government enacted the Emergency Economic Stabilization Act, which authorized the Treasury to purchase up to $700 billion in troubled assets. This legislation aimed to stabilize the financial system by addressing the liquidity crisis and restoring confidence in the banking sector.

Lehman Brothers, a global financial services firm, filed for bankruptcy, marking the largest bankruptcy filing in U.S. history. With over $600 billion in assets, Lehman's collapse sent shockwaves through the global financial system, exacerbating the financial crisis and leading to a severe downturn in global markets.

The subprime mortgage crisis began to unfold as New Century Financial Corporation, a major subprime lender, filed for Chapter 11 bankruptcy. This event marked the beginning of a series of financial failures that would lead to the Great Recession. The collapse of New Century highlighted the risks associated with subprime mortgages and the broader housing market.