Global Financial Crisis 2008 Causes and Lessons

The 2008 Global Financial Crisis began with risky subprime mortgage lending in the U.S. but quickly spread through global financial systems. Major banks failed, and markets crashed, triggering the worst recession since the Great Depression. Governments intervened with bailouts and stimulus programs to stabilize economies. The crisis exposed systemic flaws in deregulated finance and led to major reforms such as stricter capital requirements and consumer protection laws. It reshaped global attitudes toward risk, inequality, and economic oversight.