Crisis 2008

The 2008 economic crisis sparked due to the downturn in the US real estate market when the Lehman Brothers declared bankruptcy. The real estate bubble resulted in mistrust and lack of confidence across the global financial system. The unsustainable debt levels amid the lack of credit quality and other financial imbalances caused the world financial system to collapse. It impacted the lives of the people and jolted the world economy in entirety.

Difference 101