Housing bubble: The crash was triggered by the bursting of the housing bubble, with oversupply and inflated housing prices.
Financial leverage and overexposure: Many institutions had high levels of leverage and significant exposure to risky assets, amplifying their losses.
Collapse of Lehman Brothers: The bankruptcy of Lehman Brothers in September 2008 intensified the crisis and caused panic in the financial markets.
Regulatory failures: There were regulatory oversights and failures, allowing risky practices and inadequate risk management to go unchecked.
Global recession and government interventions: The crisis resulted in a global recession, job losses, and required significant government interventions to stabilize the financial system.
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