The conversation between human and AI assistant.
In layman’s terms, what caused the 2008 financial crisis?
Were there any long-term effects of the 2008 financial crisis?
Yes, the effects of the crisis were felt for years afterwards. It led to a global recession and high levels of unemployment, and many people lost their homes and savings. It also led to increased government regulation of the financial industry in an effort to prevent similar crises from happening in the future.