Could u expain about this?

Question 1: The great recession which began in 2007 has had a great effect on individuals. Can you explain what factors contributed to the crisis? Please be as specific as possible and site any cases of fraud or bankruptcy that occurred. Address the issues of the housing market and explain how things could have gotten so out of control. What lax Bank practices came into play and what institutions and financial instruments contributed to the erosion of sound credit? What were the effects on the banking system and on individuals? What new laws or regulations have been put in place to control the situation? What are some of the effects of these New Regulations on the banking system, and how are you and I effected by it still today?- Question 1: The great recession which began in 2007 has had a great effect on individuals. Can you explain what factors contributed to the crisis? Please be as specific as possible and site any cases of fraud or bankruptcy that occurred. Address the issues of the housing market and explain how things could have gotten so out of control. What lax Bank practices came into play and what institutions and financial instruments contributed to the erosion of sound credit? What were the effects on the banking system and on individuals? What new laws or regulations have been put in place to control the situation? What are some of the effects of these New Regulations on the banking system, and how are you and I effected by it still today