What was the 2008 financial crisis?

The 2008 financial crisis was a global economic downturn that started with the collapse of the housing market in the United States. Banks had invested heavily in subprime mortgages, or loans to high-risk borrowers, and when these borrowers began defaulting on their mortgages, banks faced a wave of losses that ultimately triggered a wider crisis in the financial sector. The crisis led to a steep drop in stock prices, widespread bank failures, and a global recession that lasted for several years. The fallout from the crisis was felt across a range of industries and regions, and prompted widespread legislative and regulatory reforms to try to prevent a similar crisis from happening again in the future.

This mind map was published on 25 May 2023 and has been viewed 101 times.