A few days earlier, the American mortgage bank Washington Mutual went under and again a few days later, bank Wachovia was saved from collapse by a takeover by Wells Fargo. This could not prevent a debacle in all cases; British mortgage bank Northern Rock was confronted in September 2007 with a "run on the bank", the phenomenon of account holders withdrawing their assets en masse. Following negotiations between the US government and Congress, an outline agreement was reached on September 28. During the weekend of September 13 and 14, negotiations between the US government and a number of major banks failed to reach agreement on a rescue plan for the major securities firm Lehman Brothers, which filed for bankruptcy ("Chapter 11") the following day. On September 7, 2008, the financial position of mortgage banks Freddie Mac and Fannie Mae prompted the US government to place both institutions in "conservatorship", whereby control was transferred to the government. From September 2008, the problems escalated: several large banks ran into problems, the banking system threatened to come to a standstill due to a large freeze in the interbank money market. Central banks became increasingly involved in the negative consequences of the activities of banking institutions, in the form of increasing advances to banks.
The amounts involved in these advances were very considerable. However, the problems identified were reason for the providers of those loans to be very cautious about continuing to provide them. In the following days, another such additional facility was used, but for lower amounts: on August 10, €61 billion, and on August 13, €7.7 billion. € 95 billion was allocated to this. Although such advances are intended to be provided for short periods (consecutive if necessary), this increasingly took on a more or less structural form. It is true, however, that mezzanine CDOs, and to a greater extent equity tranche CDOs, were of more than average interest to hedge funds due to their risk profile. In this context, it is noted that a policy whereby central banks (as is always expected) to come to the aid of financial institutions in trouble can lead to reckless behaviour: in case of problems, people will be helped. The ECB announced a one-day liquidity support, america jerseys whereby European banks could borrow unlimited money at 4.00% (but against sufficient collateral). With 1 out of 6 and one match to play against Brazil, qualification for the eighth finals seemed far away. Other central banks also provided such short-term facilities, but for smaller amounts.
However, these mortgage banks were largely financed with short-term loans. Confidence in the correct fulfillment of obligations is of course essential for the smooth functioning of this market. The roof was made of straw before the emergence of the tiled roof in the second half of the 7th century BC. These tiles were heavy: from 11 to 15 kg for a flat roof tile of about 62 × 48 × 2.5 cm. The movement that organized these expressions became known as "Occupy", usually referring to the name of the location in question. In the autumn of 2011, a new wave of dissatisfaction arose, partly prompted by the extent to which the banking crisis had turned into a general debt crisis: people started occupying locations associated with capitalism. The wishes expressed were diverse in nature, but usually had the common element that the banks should be held more responsible for the damage caused, instead of passing it on to society and remaining unaffected themselves. These facilities always replaced the earlier facility; the amounts cannot be added together.