The story began with a surge in high-risk mortgage loans in the United States, where loans were granted to borrowers with weak creditworthiness amid excessive liquidity and low interest rates. Today, more than fifteen years later, anxiety returns in a different form. Those loans were packaged into structured financial instruments like Collateralized Debt Obligations (CDOs) and sold to investors worldwide with high credit ratings. In 2008, the world entered the most severe financial crisis since the Great Depression. As default rates rose, confidence in the financial system collapsed, credit markets froze, and major institutions like 'Lehman Brothers' fell. This turned a real estate market disruption into a comprehensive global financial crisis.
