REI WEALTH MONTHLY issue 40 | Page 19

THE CREDIT CRISIS : 10 YEARS AND COUNTING RICK TOBIN

The Credit Crisis : 10 Years and Counting

By Rick Tobin

W e are now 10 years into our ongoing Credit Crisis here in 2017 that has directly or indirectly impacted a high percentage of Americans and others around the world dating back to when it officially began in 2007 . Most Americans became aware of how fragile the financial markets were in September 2008 due to a series of horrific financial events such as the still all­time record low Dow Jones index point day of a negative 777 point loss on September 29th , 2008 during a week when the global financial markets almost collapsed as even said by then Federal Reserve Chairman Ben Bernanke when testifying in a Congressional hearing several months later . Yet , the figurative financial market dominoes began falling in early 2007 almost 19 months earlier .