2008 financial crisis from "summary" of Too Big to Fail by Andrew Ross Sorkin
The financial crisis of 2008 was a calamity of epic proportions that shook the very foundations of the global economy. It was a perfect storm of greed, recklessness, and incompetence that culminated in the near-collapse of the world's financial system. At the heart of the crisis were the big banks and financial institutions that had become "too big to fail." These institutions had taken on enormous risks in pursuit of ever greater profits, and when the bubble finally burst, they were left teetering on the brink of insolvency. As the crisis unfolded, panic spread like wildfire through the markets. Banks stopped lending to each other, credit dried up, and businesses and individuals alike found themselves unable to access the funds they needed to survive. The government was forced to step in with massive bailouts to prevent a complete meltdown of the financial system. These bailouts were controversial, to say the least, with many people questioning whether it was right to use taxpa...
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