The collap of the U.S. housing bubble, whibsp;peaked in 2006, caud the values of curities tied to U.S. real estate prig to plummet, damaging financial institutions globally. Questions regarding bank solvenbsp;dees in credit availability and damaged ior fidenbsp;had an impabsp;on global stobsp;markets, where curities suffered large loss during 2008 and early 2009. Eies worldwide slowed during this period, as credit tightened and iional trade deed. Critibsp;argued that credit rating agencies and iors failed to accurately pribsp;the risk involved with me-related financial products, and that govers did not adjust their regulatory practibsp;to address 21st-tury financial markets. Govers aral banks responded with unpreted fiscal stimulus, moary policy expansion and institutional bailouts.
The repeal of the Glass–Steagall Act《格拉斯-斯蒂格爾法案》of 1933 effectively removed the paration that previously existed between Wall Street（華爾街）iment banks and depository banks. There is some debate as to what role the repeal of Glass–Steagall had oe 2000s financial crisis.
The collap of the U.S. housing bubble, whibsp;peaked in 2006, caud the values of curities tied to U.S. real estate prig to plummet, damaging financial institutions globally. Questions regarding bank solvenbsp;dees in credit availability and damaged ior fidenbsp;had an impabsp;on global stobsp;markets, where curities suffered large loss during 2008 and early 2009. Eies worldwide slowed during this period, as credit tightened and iional trade deed. Critibsp;argued that credit rating agencies and iors failed to accurately pribsp;the risk involved with me-related financial products, and that govers did not adjust their regulatory practibsp;to address 21st-tury financial markets. Govers aral banks responded with unpreted fiscal stimulus, moary policy expansion and institutional bailouts.
The repeal of the Glass–Steagall Act《格拉斯-斯蒂格爾法案》of 1933 effectively removed the paration that previously existed between Wall Street（華爾街）iment banks and depository banks. There is some debate as to what role the repeal of Glass–Steagall had oe 2000s financial crisis.
Although there have been aftershocks, the financial crisis itlf ended sometime between late 2008 and mid-2009. While many caus for the financial crisis have been suggested, with varying weight assigned by experts, the United States Senate issuing the Levin–Coburn Report（萊科伯恩報告）found “that the crisis was not a natural disaster, but the result of high risk, plex financial products; undisclod flibsp;of i; and the failure of regulators, the credit rating agencies, and the market itlf to rein in the excess of Wall Street.”