The Financial Crisis Inquiry Report

On Monday, September 15, 2008, the Dow Jones Industrial Average fell more than 500 points, the largest single-day point drop since the 9/11 terrorist attacks. These drops would be exceeded on September 29-the day that the House of Representatives initially voted against the $700 billion Troubled Asset Relief Program (TARP) proposal to provide extraordinary support to financial markets and firms-when the Dow Jones fell 7% and financial stocks fell 16%. For the month, the S&P 500 would lose $889 billion of its value. And specific institutions would take direct hits...