The financial crash of 2008 is due to the consequences of very complex banking products whose risks were not seen by the bankers. The managers who were responsible for the staff all saw the potential profit factor, but as the products made by the quants were so complex they did not understand what the risks involved.
Until today, these products still have very complicated systems to cover, for example, home market loans. Every day, we live with our current financial system at the edge of the abyss because, if a complex product collapses and makes huge losses, this can have disastrous consequences for a bank.
When there is a large bank, we get a domino effect like in 2008 when Lehman Brothers overturned.
Solution: CRYPTOCURRENY
The problem is that our current financial system is managed by banks and not by the people. A decentralized system such as bitcoin can solve this problem and still (through smart contracts) provide loans and others (simple) financial products.
