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4 charts show how bad the Great Recession was 10 years ago

This month marks 10 years since Lehman Bros. became the largest bankruptcy case in U.S. history. Today, we look back at the Great Recession.
U.S. GDP by quarter
Here is the nation’s gross domestic product, the broadest measure of economic activity, by quarter, from 2004 to today:

Historical perspective
The 18-month-long contraction of gross domestic product known as The Great Recession was the longest since the Great Depression, 43 months, from 1929 to late 1933.

U.S. unemployment percentage
Nearly 8.7 million jobs were lost from late 2007 through mid-2009.

Foreclosure fallout
A RealtyTrac map shows foreclosures in 2012. The darker red indicates a higher rate. During the peak of the Great Recession, nearly 4 million homes were foreclosed each year and 2.5 million businesses were shuttered.

The bailout
Propublica has been tracking every dollar and recipient of bailout money from the Great Recession. Here’s who got what.

Downward spiral
Oct. 9, 2007: The U.S. stock market hits an all-time high as the Dow Jones Industrial Average reaches 14,164 points.
March 2008: The failure of Bear Stearns Cos. signals the collapse of the subprime mortgage crisis. It was the first time the Fed had intervened with a non-commercial bank since the Great Depression.
Sept. 15, 2008: The nation’s fourth-largest brokerage firm, Lehman Bros., declares bankruptcy. It’s the largest bankruptcy case in U.S. history, involving $619 billion in debts.
Sept. 16, 2008: The U.S. government announces plans to bail out insurance company AIG, paying $85 billion for 80 percent of the company’s assets.
Oct. 6-10, 2008: The Dow suffers its largest weekly loss: 1,874 points. The value of U.S. stocks plunges, causing many Americans to lose savings invested in financial markets.
November 2008: The government essentially purchases $45 billion worth of Citigroup preferred and common stock, which is sold a few years later at a net gain of $12 billion.
December 2008: Struggling automakers General Motors and Chrysler receive a combined $80.7 billion in TARP funds to remain afloat.
Dec. 16, 2008: The Federal Reserve reduces short-term interest rates to 0 percent for the first time in American history.
Feb. 18, 2009: Recently elected President Barack Obama approves a $787 billion stimulus package, which includes tax cuts ($400 for individuals and $800 for couples).
March 9, 2009: The Dow falls to its Great Recession low of 6,547 points, a drop of more than 50 percent from its all-time high set in October 2007.
June 2009: The NBER officially declares the Great Recession over in the United States. The effects of the downturn are still being felt at home and abroad.
July 21, 2010: President Obama signs into law the Dodd–Frank Wall Street Reform and Consumer Protection Act.
Aug. 5, 2010: Bond rating firm Standard and Poor’s lowers the U.S. government’s credit rating from AAA to AA+ for the first time in history.
Sources: Rich, Robert, “The Great Recession.” Federalreservehistory.com

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