AOL 2008 Year End Hot Searches

In a truly historical election, Barack Obama defeated John McCain to become the first African-American President of the United States.

Olympics

For two weeks in August, the world’s eyes were on Beijing, site of the 2008 Summer Games. The elaborate opening ceremony set the stage for great things to come, including Michael Phelps’ record eight gold medals. After the games, the Olympic Committee investigated the eligibility of the gold medal-winning Chinese women’s gymnastics team and determined that all athletes were old enough to participate in the games.
Bailout

The first rumblings of trouble came in March when investment bank Bear Sterns collapsed, but it wasn’t until the government takeover of Fannie and Freddie in September that we began to see the full impact of the sub-prime mortgage crisis. As the financial system tanked, the government stepped in to throw banks a life line. Congress approved the $700 billion bailout bill in October in an effort to stave off an economic depression.
Hurricane Ike

Hurricane Ike hit in September, but it will still be months before damaged areas are restored back to normal. The storm slammed the Gulf of Mexico and destroyed over 50 oil and gas platforms. In Ike’s wake, gas prices sky rocketed amid fuel shortages, and some parts of the country saw prices reach $5 per gallon.
Unemployment

As companies struggle to stay afloat, Americans fight to hold on to their jobs. Large-scale layoffs left job seekers competing in a depleted market, and unemployment rates reached their highest point in 14 years.
Stock market

The stock market was a roller coaster ride in 2008. Extreme fluctuations set new records, but not in a good way. In October, the New York Stock Exchange saw both the worst drop in history and the biggest one-day gain since 1933. The trouble quickly spread to global markets, too.

Bigfoot

Two hunters caused quite a stir in August when they claimed to have discovered a Bigfoot corpse in the woods of Georgia. Sasquatch believers waited to see if this was the real thing and news sources crowded to get photos. However, when the frozen ‘body’ started to thaw, it was revealed to be nothing more than a hoax.
Stimulus checks

In 2008, personal bailouts from Uncle Sam were one of the few good things to come from the economic downturn. Taxpayers were eligible for payments meant to stimulate the economy, but many recipients used them for necessities like gas and groceries instead.
High gas prices

One word sums up prices at the pump in 2008: painful. This year, gas prices soared to new all-time highs, and just when it seemed that it couldn’t get any worse, Hurricane Ike caused another price spike. Much to our wallet’s delight, prices began to significantly drop by the end of the year.
Eliot Spitzer scandal

What do you get when you put a crime-fighting governor and a high-priced call girl together? A huge scandal! Despite his reputation for cracking down on vice, New York’s Eliot Spitzer found himself facing impeachment after a federal investigation linked him to the now-infamous Emperors Club. He resigned in March with his wife at his side.

Olympics

Bailout

Hurricane Ike

Unemployment

Stock market

Bigfoot

Stimulus checks

High gas prices

Eliot Spitzer scandal

Newsmakers

Natural Disasters

Financial Faux Pas

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