What Caused the 2008 Global Financial Crisis?

This video looks in depth at the causes and consequences of what has been referred to as the “worst economic crisis since the Great Depression.” Originally published in 2009, it breaks down the complex circumstances surrounding the downturn, such as the roles of credit rating institutions and U.S. government bailouts, and explains the policy implications for the world, including France, Russia, and emerging economies. It draws on insights from leading thinkers on economics and international affairs, including David Rubenstein, Sebastian Mallaby, and Benn Steil.

This video was a part of CFR.org’s Emmy award–winning multimedia Crisis Guide series, aimed at providing detailed, tailored resources for exploring some of the world’s most complex disputes.


The Council on Foreign Relations (CFR) is an independent, nonpartisan membership organization, think tank, and publisher.