The Kennebunkport Collection™🎁

关于此套币: The year 2008 was an economic disaster. Property prices fell on both sides of the Atlantic in Europe and America causing hardship to many homeowners, and problems for the financial institutions.

Bank of America took over the country's biggest mortgage lender, Countrywide Financial which was rumored to be close to bankruptcy in a $4bn (£2.04bn) deal. Citigroup, the nation’s largest bank, joins a number of other high profile financial institutions and reported a fourth-quarter loss of $9.83 billion caused by the sub prime mortgage problems. And, the Federal Reserve announced a series of interest rate cuts with federal funds target rate falling to 2.25%.

President Bush and House leaders agree to a $150 billion stimulus package, including rebates for most tax filers of up to $600 for individuals, $1,200 for couples and, for families, an additional $300 a child.