By now, anyone who even bothers with the financial markets would have read something about the subprime crisis. But it still remains interesting to track the development of the crisis to date.

Both Reuters and Wikipedia have done the hard work for us. I’ll just add a bit at the end on this month’s news.

• Reuters: Timeline – A crisis in credit. More visual than Wikipedia’s version, but not as detailed.
• Wikipedia: Subprime crisis impact timeline. Includes a breakdown by week for 2007, and a review of the crisis’ impact so far on major firms.

Okay, so what has happened since the articles above were written?

1. Nov 24: Small-town municipality in Norway suffers significant losses from credit-linked financial products.
2. Nov 23: CIFG becomes the first specialist insurer to need a bail out.
3. Nov 7: Morgan Stanley takes a USD3.7 billion hit due to its mortgage-related exposures, which could obviously still get worse.

None of the above seem terribly exciting, but then, that’s only in comparison with what has already happened thus far.

P.S.: A rather detailed .pdf timeline from December 2006 onwards by the US Joint Economic Committee might also be of interest.