The Great Recession of 2007 to 2009 marked a huge disruption in the global financial system, rivaled only by the Great Depression in scale and severity. Rooted in excessive risk-taking, lax financial regulations, and the collapse of the US housing market, the crisis triggered widespread economic turmoil, massive job losses, and a deep cut in global GDP.
Though recovery eventually followed, the crisis reshaped economic policy, financial regulation, and global markets for years to come.
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