It is the year 2008, and the global financial crisis is shaking the entire planet and the world market. The 2008 crisis was clearly quite different from other crises, as large private banks had a significant opportunity to prevent it. So what happened… It all began years earlier, when the U.S. Federal Reserve kept interest rates at historically low levels and the housing market was in the midst of a wild boom. Banks and financial institutions loosened their lending criteria to the extreme, gr...

It is the year 2008, and the global financial crisis is shaking the entire planet and the world market. The 2008 crisis was clearly quite different from other crises, as large private banks had a significant opportunity to prevent it. So what happened… It all began years earlier, when the U.S. Federal Reserve kept interest rates at historically low levels and the housing market was in the midst of a wild boom. Banks and financial institutions loosened their lending criteria to the extreme, gr...