June 20, 2007: After receiving margin calls, Bear Stearns bailed out two of its hedge funds with $20 billion of exposure to collateralized debt obligations including subprime mortgages.
Bear Stearns said that "the problem was contained".
May 2nd, 2023:JPMorgan CEO Jamie Dimon: 'This part of the crisis is over' after First Republic takeover.
Dimon said theres a chance another smaller bank fails, but this pretty much resolves them all.
I think the banking system is very stable, he said. While there are still concerns over rising interest rates and the potential for a recession, everyone should just take a deep breath.
Dimons comments echo earlier statements made last month, when he told CNN I think were getting near the end of this particular crisis.
This is not the 'all clear'...this is just the beginning.