Episode Details

In this episode of pplpod, we dive into the causes and consequences of the 2008 financial crisis, widely considered the worst economic disaster since the Great Depression. We break down how the bursting of the U.S. housing bubble and the subprime mortgage crisis triggered a global liquidity freeze that brought the financial system to its knees.

Join us as we explore:

• The Triggers: How predatory lending, excessive speculation, and the "shadow banking system" fueled an unsustainable housing boom.

• The Collapse: The timeline of the crash, climaxing with the historic bankruptcy of Lehman Brothers in September 2008.

• The Fallout: The devastating impact on the global economy, including the loss of nearly 9 million jobs in the U.S. and the evaporation of trillions in household wealth.

• The Response: How governments reacted with massive bailouts, such as the Troubled Asset Relief Program (TARP), and major regulatory overhauls like the Dodd–Frank Act.