The crisis revealed the flaws in the system from "summary" of The Big Short by Michael Lewis
The financial crisis of 2008 was a wake-up call for many who had blindly trusted in the stability of the system. It showed that there were deep-rooted issues that had been overlooked, ignored, or simply not understood by those in charge. The collapse of the housing market was not just a random event - it was the result of a flawed system that had been operating unchecked for too long. Many people, including investors, bankers, and regulators, had put their faith in a system that was built on shaky foundations. The crisis revealed how toxic mortgages had been bundled together and sold as if they were safe investments. It exposed the lack of oversight and regulation that allowed these risky practices to go unchecked. It showed how greed and short-sightedness had fueled the boom and ultimately led to the bus...
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