The Financial Mirage: Lessons from the 2008 Crisis

This chapter examines the evolution of financial systems and the reckless behaviors leading up to the 2008 crisis, where banks issued unsustainable mortgages. It highlights the psychological dynamics behind financial contracts and the rise of risky derivatives that contributed to market instability. By analyzing personal anecdotes and macroeconomic events, the chapter underscores the need for responsible financial practices amidst speculative allure.