Extremely simplified:

The financial crisis of 2008 was a big problem that affected many people around the world. It happened because some banks and financial companies took on too much risk and made bad decisions. This caused them to lose a lot of money and some of them even went bankrupt.

As a result of the crisis, governments and financial regulators around the world have taken steps to prevent another one from happening. These steps include:

  1. Putting in place rules to make banks and financial companies hold more money in reserve, so they are less likely to fail.

  2. Creating new agencies to oversee the financial system and ensure that companies are following the rules.

  3. Making it easier for people to understand the financial products they are buying, so they can make better decisions.

  4. Encouraging companies to be more transparent about their financial activities, so investors and regulators can keep a closer eye on them.

Overall, the financial crisis of 2008 taught us that it's important to be careful when investing our money and to make sure that the companies we invest in are making sound decisions. By taking steps to prevent another crisis, we can help ensure that our economy remains stable and strong.