We all know that in 2008, Markets across the world fell sharply almost to 50% of its then ongoing levels. There were about 85 different banks and financial institutions which went bankrupt and hence were either shut down or were acquired by other bigger institutions. I understand that all of this started because of Credit Default Swaps on real estate introduced by JP Morgan. What were the other major reason and factors behind the 2008 Financial Market crisis?

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As far as I remember it was primarily triggered by the collapse of the U.S. housing bubble and the subsequent subprime mortgage crisis.

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