A decade ago, the 2008 financial crisis wreaked havoc on global markets as well as the world. The financial crisis has sunk some banks and paralyzed markets, resulting in staggering losses for many people out there. It is also considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.
How did it all happen?
After 10 years, the causes and repercussions remain tricky to comprehend. What exactly set it into motion involves a whole series of complex questions with a number of interlocking answers.
Here is a quick infographic attempting to detail what caused the 2008 Financial Crisis:
It all began with the use of securitization. Securitization simply means the pooling of debt and then issuing assets based upon that debt.